central banks should lend early and freely (ie without limit to solvent firms, against good collateral, and at 'high rates'. No goods or services are exchanged as part of these contracts and banks rarely assume any Commercial Risk. There are however certain differences: The scale of QE is much larger. The IMF's Financial Services Action Plan (fsap) review self-assessment, for example, includes a number of questions about central bank independence in the transparency section. Some are styled "national" banks, such as the Swiss National Bank, National Bank of Poland and National Bank of Ukraine, although the term national bank is also used for private commercial banks in some countries such as National Bank of Pakistan. 41 In return to their independence, central bank are usually accountable at some level to government officials, either to the finance ministry or to parliament.
"Iran and imfinternational Monetary Fund". And UN financial sanctions on Iran, the use of hawala by Iranians has reportedly increased. 111-151; Werner, Richard (2001). Central banks also act as a " lender of last resort " to the banking sector during times of financial crisis. Doi :.1007/.