National Bank of Soundland
As the central bank of the Republic of Soundland, the National Bank of Soundland, or NBS, plays a crucial role in promoting economic growth and stability. The primary function of the NBS is to formulate and implement monetary policy to achieve its objectives of meeting inflation targets, supporting sustainable economic growth, and maintaining financial stability. The NBS achieves these goals by regulating the supply of money in the economy, setting interest rates, and investing in low-risk securities.
As the issuer of Soundland's currency, the NBS plays a critical role in ensuring that the Cascadian Dollar remains stable and trusted by the public. The NBS prints and regulates the supply of Cascadian dollars, which are pegged at 0.02 grams of gold, and it is responsible for ensuring that the currency remains stable in the face of economic fluctuations and that inflation is controlled.
The NBS is run by the Executive Director, who is appointed by the president for a three-year term. The Executive Director is part of a three-person board of directors of the NBS, who are also appointed for two year terms that are adjusted to be staggered. The board of directors approves all proposed monetary policies. Along with the board, the Executive Director oversees the day-to-day operations of the NBS.
The NBS plays an essential role in Soundland's economy. It is the only agency dedicated to growing and safeguarding Soundland's economy, it controls the design and production of the Cascadian Dollar and is a vital source of trustworthy financial data for both businesses and consumers in Soundland.
The current Executive Director is Marshall B, having served since 2020.