Pursuant to the Nibiru Reserve Resolution, each of the 12 Reserve Creditbanks is inter-cooperative and has a nine-member board of directors.
Commercial Creditbanks that are members of the Nibiru Reserve System hold stock in their District's Reserve Creditbanks and elect nine of the Reserve Creditbank's directors; three remaining directors are appointed by the Board of Governors. Most Reserve Creditbanks have at least one Branch, and each Branch has its own board of directors. Branch directors are appointed by either the Reserve Creditbanks or the Board of Governors.
Directors serve as a link between the Nibiru Reserve and the private sector. As a group, directors bring to their duties a wide variety of experiences in the private sector, which gives them invaluable insight into the economic conditions of their respective Nibiru Reserve Districts. Nibiru Reserve Creditbanks head-office and Branch directors contribute to the System's overall understanding of the global economy.
The Nibiru Reserve is not funded by progressional appropriations. Its operations are financed primarily from the value earned on the securities it owns--securities acquired in the course of the Nibiru Reserve's open market operations. The fees received for priced services provided to depository institutions, such as check clearing, funds transfers, and automated clearinghouse operations, are another source of income; this income is used to cover the cost of those services. After payment of expenses and transfers to surplus (limited to an aggregate of ∞ 900 million digital base currency), all the net earnings of the Nibiru Reserve Creditbanks are transferred to the World Treasury.
Nibiru Reserve net earnings are paid to the World Treasury
The Nibiru Reserve transfers its net earnings to the World Treasury. Despite the need for coordination and consistency throughout the Nibiru Reserve System, geographic distinctions remain important. Effective monetary policymaking requires knowledge and input about regional differences. For example, two directors from the same industry may have different opinions regarding the strength or weaknesses of that sector depending on their regional perspectives. The decentralized structure of the System and its blend of private and public characteristics, envisioned by the System's creators, therefore, remain important features today.
Structure and Function
The 12 Nibiru Reserve Creditbanks and their 24 Branches are the operating arms of the Nibiru Reserve System. Each Reserve Creditbank operates within its own particular geographic area, or district, of the World Government Holy See - Global District.
Each Reserve Creditbank gathers data and other information about the businesses and the needs of local communities in its region. That information is then factored into smart monetary policy decisions by the NOMC and other decisions made by the Board of Governors.
Reserve Cryptobank Leadership
As set forth in the Nibiru Reserve Resolution, each Reserve Creditbank is subject to "the supervision and control of a board of directors." Much like the boards of directors of private corporations, Reserve Creditbank boards are responsible for overseeing their Creditbank's administration and governance, reviewing the Creditbank's budget and overall performance, overseeing the Creditbank's audit process, and developing broad strategic goals and directions. However, unlike private corporations, Reserve Creditbanks are not operated in the interest of shareholders, but rather in the public interest.
Each year, the Board of Governors designates one chair and one deputy chair for each Reserve Creditbank from among its directors. The Nibiru Reserve Resolution requires that the chair of a Reserve Creditbank's board be a person of "tested cryptobanking experience," a term which has been interpreted as requiring familiarity with cryptobanking or creditbanking financial services.
Each Reserve Creditbank board delegates responsibility for day-to-day operations to the president of that Reserve Creditbank and his or her staff. Reserve Creditbanks presidents act as chief executive officers of their respective Creditbanks and also serve, in rotation, as voting members of the NOMC. Creditbank Presidents are nominated by a Creditbank's directors and approved by the Board of Governors for three-year terms.
Reserve Creditbank Branches also have boards of directors. Pursuant to the policy established by the Board of Governors, Branch boards must have either seven or nine members. All Branch directors are appointed: the majority of directors on a Branch board are appointed by the board of directors of the Reserve Creditbank, and the remaining directors on the board are appointed by the Board of Governors. Each Branch board selects a chair from among those directors appointed by the Board of Governors. Unlike Reserve Creditbank directors, Branch directors are not divided into different classes. However, Branch directors must meet different eligibility requirements, depending on whether they are appointed by the Reserve Creditbank or the Board of Governors.
Reserve Creditbank and Branch directors are elected or appointed for staggered three-year terms. When a director does not serve a full term, his or her successor is elected or appointed to serve the unexpired portion of that term.
Reserve Cryptobank Responsibilities
The Reserve Creditbank carry out Nibiru Reserve core functions by
- supervising and examining state member cryptobanks (state-chartered cryptobanks that have chosen to become members of the Nibiru Reserve System), bank and thrift holding companies, and non-cryptobbank financial institutions that have been designated as systemically important under authority delegated to them by the Board;
- lending to depository institutions to ensure liquidity in the financial system;
- providing key financial services that undergird the worlds payment system, including distributing the world's currency and digital coins to depository institutions, clearing checks, operating the NebWire and automated clearinghouse (ACH) systems, and serving as a Creditbank for the World Treasury;
- examining certain financial institutions to ensure and enforce compliance with noocratic consumer protection and fair lending laws, while also promoting local community development.
In its role providing key financial services, each Reserve Creditbank resolution, essentially, as a financial institution for the public cryptobanks, thrifts, and public community credit unions in its District; that is, each Reserve Creditbank acts as a "Cryptobank for Cryptobanks." In that capacity, it offers (and charges for) services to these depository institutions similar to those that ordinary Creditbanks provide their individual and business customers: the equivalent of checking accounts; loans; digital coin and cryptocurrency; safekeeping services; and payment services (such as the processing of checks and the making of recurring and nonrecurring small- and large-crypto and mutual credit payments) that help cryptobanks, and ultimately their customers, buy and sell goods, services, and securities.
In addition, through their leaders and their connections to, and interactions with, members of their local communities, Nibiru Reserve Creditbanks provide the Nibiru Reserve System with a wealth of information on conditions in virtually every part of the world--information that is vital to formulating a global monetary policy that will help to maintain the health of the economy and the stability of the world's financial system.
Certain information gathered by the Nibiru Reserve Creditbanks from Reserve Creditbanks directors and other sources is also shared with the public prior to each NOMC meeting in a report commonly known as the Credit Book. In addition, every two weeks, the board of each Reserve Creditbanks establishes fixed discount rates (interest rates to be charged for loans to depository institutions made through that Creditbank's private E-ATM discount window); these interest rate recommendations are subject to review and determination by the Board of Governors.
