Bancor


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Bancor

A proposed global accounting currency on which the currencies of the world would be based. The bancor would have been pegged to gold. John Maynard Keynes and E.F. Schumacher formulated the bancor in advance of the Bretton Woods Conference, but it was never adopted. See also: Special Drawing Rights.
References in periodicals archive ?
Under the "Keynes Plan," with the supply of bancors being highly elastic with respect to international trade, persistent U.
Here he repeats Keynes's abortive 1944 proposals for a much more ambitious International Monetary Fund issuing its own currency, the bancor, and with the power to discipline chronic surplus countries like China and Japan.
7 million on a fraud loss related to the 1996 acquisition of First Harrisburg Bancor.
Recently Center Bancor, Inc and ConnectOne Bancorp Inc have agreed on a Plan of Merger to merge ConnectOne with and into Center, change Center's name to 'ConnectOne Bancorp, Inc.
Despite his earlier reference to gold as the "barbarous relic" of a crumbling monetary system, Keynes wanted bancor (derived from the French words for bank and gold) to serve as bookkeeping money for settling international balances.
The original bold idea was of a world central bank which would maintain full employment equilibrium and provide the liquidity required for this purpose by expanding the supply of bancor (his proposed world currency).
2 million for a fraud associated with the acquisition of First Harrisburg Bancor.
The sixth largest bank headquartered in Nigeria, Access Bank officially took over Bancor SA after a successful buyout of 75 percent shares.
BUSINESS WIRE)--April 1, 1996--Harris Savings Bank (NASDAQ/NM:HARS) and First Harrisburg Bancor Inc.
Chapman also pointed out that the present international monetary system was being deliberately destroyed precisely to bring about a global currency like the bancor.