The Implications of the Central Bank Reserves

Advocates of modern monetary theory would disagree and say that the commercial banks reserves at the Central Bank are not in fact a loan. But we are going to talk about the implications of that and address that idea. I thought maybe because you have sort of a unique insight into the plumbing of the banking system, having been governor of the IBA for a decade. What does that actually look like? And when you were during your time at the bank, what does the flow of funds look like? You see the money coming in, the money going out? Did you used to write it on bits of paper? How is it done? Well, it's all done at computer streams now,