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 ?
The integration of the Bancor Protocol will give holders of the Swytch token the ability to convert Swytch to any token on the Bancor Network.
We are really excited to integrate the Bancor Protocol which will make it effortless for our users to convert their tokens, providing them with continuous liquidity.
Otra cosa que hay que subrayar es que White tambien se opuso a la creacion del Bancor, peticion que le fue concedida en la conferencia, debido principalmente al hecho de que la devastada Gran Bretana no tuvo mas remedio que pedir ayuda, y es asi que el dolar de los Estados Unidos paso a ser la divisa de reserva.
The bancor was an international currency, independent of the US dollar.
As in the case of Bancor, if some surplus countries that currently peg to a national currency (e.
Keynes advocated the creation of a global reserve currency called BANCOR which should not be susceptible to the vicissitudes of any single economy.
A su vez, los estados asociados convendrian entre si el valor inicial de sus monedas en bancor (8).
Alternatively, John Maynard Keynes' bancor scheme could be implemented, as it does not require a reserve currency country.
The clincher, however, was that penalties would apply symmetrically to surplus countries, with any country accumulating positive bancor balances likewise subject to interest charges and, in the event of an excess balance running 50 percent over quota, mandatory revaluation.
Both sides of the imbalance would be pressured to balance their current accounts by financial penalties, and if need be by exchange rate adjustments relative to the clearing account unit, called the bancor by Keynes.
TABLA 4 EL CONTROL DE LOS BANCOS EN EL SALVADOR ANTES Y DESPUES DEL MODELO DE AJUSTE ESTRUCTURAL BANCOS DUENO ANTES DE 1980 DUENO DESPUES DE 1989 Salvadoreno Guirola Siman Agricola Escalante-Sol Millet Baldochi Cuscatlan Roberto Hill Samayoa-Cristiani Comercio Regalado Duenas Bellismelis Garcia Prieto Desarrollo Salaverria Bancor Roberto Hill Bancasa Zablah Credisa Dutiriz Credomatic Murray Meza-Pellas Ahorromet Poma Fuente:Albiac, 1999: 850.