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But there is, as yet, no clear policy on ownership of either the reserves or the oil industry.
Argentina's inflexible currency-board scheme not only pegs the peso at par to the dollar but limits the money supply to the level of hard-currency reserves, in effect turning monetary policy over to the United States' Federal Reserve.
Beyond the sufficiency of existing natural gas reserves, several factors support a public policy designed to encourage export.
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Last year, the Centre on Budget and Policy Priorities found that only three states had enough reserves to maintain spending through a three-year recession without tax rises: Iowa, Maine and North Dakota.
Given banker fears and uncertainty, particularly over the adequacy of their capital, bankers would likely regard the loss of those reserves as a significant tightening of monetary policy rather than a mere technical adjustment.
Current industry leaders have been complaining for months that uncertainty regarding healthcare costs, financial regulation, and economic policy have made them hesitant to deploy their enormous cash reserves.
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Some bond investors are fretting that the overhang of bank reserves created by the central bank's policy over the past couple of years could in due course result in a sharp jump in inflation.
The EU debt situation shared the spotlight with China Monday as Chinese monetary authorities loosened monetary policy over the weekend by reducing reserve requirement ratios on domestic bank reserves.
The EU debt situation is also sharing the spotlight with China Monday as its monetary authorities loosened monetary policy over the weekend by reducing reserve requirement ratios on domestic bank reserves.
Those statements would include disclosures of litigation exposure on a global basis, reserves and sources of reserves to cover existing and highly probably litigation, and governance policy to describe funding mechanisms of member firms to cover litigation against member firms in any part of the world not covered by sufficient insurance coverage or capital.
His policy of expanding "power money"--cash in circulation plus bank reserves--will feed inflation, which is currently at 5.2%.
The obvious policy response is intervention to cap the sterling rate, build up foreign-exchange reserves, and offset the monetary effects by issuing sterling debt.
Any rise in the unemployment rate moves farther away from the level at which the Federal Reserves says it will begin to increase interest rates and ease its accommodative monetary policy.
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Foreign government accumulation of dollar reserves provides some measure of assurance against the ill effects of U.S. policy.
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If that gap persists, the problem can be addressed by supplementing payment of interest on reserves with steps to reduce reserves and drain excess liquidity from markets the second means of tightening monetary policy.
Far from being a time-honoured tool for controlling interest rates, the Fed only began paying interest on reserves in 2008 and had little difficulty controlling interest rates prior to the introduction of this policy.
Term deposits are be one of several tools that the Federal Reserve employs to drain reserves when policymakers judge that it is appropriate to begin moving to a less accommodative stance of monetary policy.
Even if our balance sheet stays large for a while, we have two broad means of tightening monetary policy at the appropriate time: paying interest on reserve balances and taking various actions that reduce the stock of reserves.
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