The No-Gold Central Banks

Herman Matthijs and Mark Scholliers

Review of European Studies, 2022, vol. 14, issue 3, 43

Abstract: This article examines the central banks of three countries with no membership of the eurozone or the us-dollar zone- the ‘Bank of England’, the ’Norges Bank’ and the ‘Bank of Canada / Banque du Canada.’ It uses a descriptive, factual analysis including a short history, their structure and administrative bodies, and some key financial figures. While there are a number of similarities between the three banks e.g. on the level of administration, they differ considerably with respect to external controls and financial solidity. The ’Norges Bank’ and the ‘Bank of Canada / Banque du Canada‘ have sold all of their gold reserves, while the ‘Bank of England’ only holds a small amount compared to the size of its other assets. Hence, the no-gold banks.

Date: 2022
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