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A central bank is a financial institution established by a national government for the purpose of regulating the monetary policies of that country. Responsibilities of central banks include: holding the reserves of commercial banks, controlling a country's monetary reserves, regulating a country's money supply, check collection, establishing interest rates, issuing legal tender, holding foreign currency reserves and monitoring exchange rates, and regulating governmental credit policies and government loans and borrowing. A central bank is often referred to as a "banker's bank" or the "lender of last resort" because most central banks are restricted to dealing solely with other banks or government agencies. The central bank of France is a notable exception and often conducts business directly with private citizens and companies. By the 1990s virtually every country had...