Who gets the seigniorage?

Lorenzo Bini Smaghi and Daniel Gros
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Lorenzo Bini Smaghi: Italian Treasury

Chapter 4 in Open Issues in European Central Banking, 2000, pp 94-117 from Palgrave Macmillan

Abstract: Abstract The net income of central banks, called seigniorage, is the difference between the return received on assets and the sum paid on liabilities. The latter is generally small since a large part of liabilities comprises banknotes in circulation that bear no return. After operating costs have been deducted and provisions for reserves made, seigniorage is usually transferred to the government and constitutes an additional source of budgetary revenue.

Keywords: Interest Rate; Central Bank; Euro Area; Balance Sheet; European Central Banking (search for similar items in EconPapers)
Date: 2000
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DOI: 10.1057/9780333981887_5

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