CENTRAL BANK Definition

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CENTRAL BANK is the major regulatory bank in a country, usually government controlled. The UK central bank is the Bank of England; Germany's is the Bundesbank; in the U.S. it is the Federal Reserve System.

Learn new Accounting Terms

MCS see MATERIAL CONTROL SYSTEM.

NOMINAL INTEREST RATE is the stated, or named, interest rate in a note or contract; the nominal interest rate may differ from the true or effective interest rate. See EFFECTIVE INTEREST RATE.

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