Monetary Authority of Montesayette
.jpg) Headquarters of the Monetary Authority of Montesayette in Nerfoy c. 2019 | |
| Headquarters | Nerfoy |
|---|---|
| Established | January 1, 1955 |
| Ownership | Government of Montesayette |
| Chairperson | Macaire Laurent |
| Central bank of | Montesayette |
| Currency | Montesayettean pound MSP (ISO 4217) |
| Reserves |  QS₵238.52 billion (March 2023) |
| Reserve requirements | 7.6% (March 2023) |
| Bank rate | 1.67% (March 2023) |
| Preceded by | Bank of Montesayette |
| Website | autorite-monetaire.sy |
The Monetary Authority of Montesayette (Quebecshirite: Autorité Monétaire de Montesayette) is the central bank and financial regulatory authority of Montesayette. Among its responsibilities are money, banking, insurance, securities, and the financial sector as a whole, as well as currency issuance. Founded in 1955 to replace the Bank of Montesayette, the authority changed its role when the Montesayettean pound shifted from a fixed exchange rate to an intermediate rate based on a currency basket. This change in exchange rate regime led to an unusual policy of direct interventions in foreign exchange markets. This policy had the goal of maintaining stable and predictable price levels as the primary policy target over the medium-term.
In contrast to many central banks worldwide, the Monetary Authority of Montesayette is not independent of the Montesayettean federal government. Instead, it operates under the Office of the Federal President. The chairperson of the Authority is typically a former or incumbent Federal Minister of Finance. The Authority works closely with the Financial Supervisory Commission, its parliamentary counterpart. A close relationship is also maintained with the Financial Intelligence Unit, which provides specialized financial intelligence to the government. As a result, Montesayette has an exceptionally low corruption rate and maintains strong financial discipline, contributing to its high-performance and low-risk credit rating.
