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Citizens of Wintreath, this is the Banking Bill that is just now currently before the UH

Regional Banking Bill

I. Regional Treasury - The control over the regional treasury is given directly to the monarch of the region.  The monarch is in control of appointing a Jarl and Thane of the department.

II. Banking staff
   A. Office of the President - The president shall be in charge of overseeing all of the daily functions of the regional bank. The president shall, also, work in unison with the Wintreath Treasury on setting the interest rates for savings accounts and keep watch on the printing of regional currency, the Krone.

  B.  Office of the Vice President - The vice president shall help facilitate the duties of the president, in addition to monthy audits of the banks accounts and transactions.  This also includes investigating and discrepencies.

  C.  Other staff - Other staff is under the direction of the president.  There can be bankers and loan officers.  Bankers will be responsible for general maintence of the accounts. Loan officers shall be in charge of servicing and collecting on loans that are made through the bank.

II.  Operations
  A. Savings Accounts - Savings accounts shall be serviced and maintained monthly. The interest rate shall be set by the president of the bank and the Wintreath treasury.  This shall be added to the accounts quarterly. 

  B. Loans - Loans and their requirements shall be governed by the officers of the bank.  These requirements and interest on the loans shall be available for public knowledge.

  C.  The bank name - The name of the bank shall be decided by public nomination and vote.

This is a banking bill only, authored by Beautifulthing and introduced by Beautifulthing and Lord Belmont.  There is a bill coming for governing the commerce of the region.  The commerce will outline the buying and selling of goods and services that one may wish to provide.

The introduction of the Commerce Bill is dependent on the passing of the Banking Bill.  Thank you all for your valuable input.

Are we to assume that the Regional Treasury is capable of printing and destroying currency?  And are we creating a national bank here?

I really object to national banks.  Additionally I believe that we should give the UH and the Monarch the power to coin money, assuming each has the consent of the other to create it.  Secondly, I believe that we should make it "Jarl and Thane of the Exchequer."

Also, we need the capacity for persons to create their own independent banks to compete with what appears to be a monopoly on the regional banking system.  (That does not mean competing currencies, but it does mean independent banks.)

Additionally, Section II of the bill is labeled twice.  I'm assuming you mean "Section III: Operations"

Are we to assume that the Regional Treasury is capable of printing and destroying currency?  And are we creating a national bank here?

I really object to national banks.  Additionally I believe that we should give the UH and the Monarch the power to coin money, assuming each has the consent of the other to create it.  Secondly, I believe that we should make it "Jarl and Thane of the Exchequer."

Also, we need the capacity for persons to create their own independent banks to compete with what appears to be a monopoly on the regional banking system.  (That does not mean competing currencies, but it does mean independent banks.)

Additionally, Section II of the bill is labeled twice.  I'm assuming you mean "Section III: Operations"

Separate Independent banks seems like a needless complication when our user base is not that high; what would the disadvantage(s) of a national bank with a monopoly be?

Are we to assume that the Regional Treasury is capable of printing and destroying currency?  And are we creating a national bank here?

I really object to national banks.  Additionally I believe that we should give the UH and the Monarch the power to coin money, assuming each has the consent of the other to create it.  Secondly, I believe that we should make it "Jarl and Thane of the Exchequer."

Also, we need the capacity for persons to create their own independent banks to compete with what appears to be a monopoly on the regional banking system.  (That does not mean competing currencies, but it does mean independent banks.)

Additionally, Section II of the bill is labeled twice.  I'm assuming you mean "Section III: Operations"

I don't know how entirely realistic that would be outside of RP to "create" and "Destroy" money.  If anything, this is a setup for overseeing the forum-instituted bank if such a thing was created (which would be a good thing if our currency was implemented)...in which people can deposit, withdraw, get money transferred to them, garner interest (if such a system is implemented), or pay a period fee (echoing the previous thing).

While I do fully support bringing in a banking system, I'd more support them now purely as a way to slowly build interest...and at the moment there's really no incentive to have it in there and build that interest until we have a reason to even have the currency in the first place.

And I do echo Hannah that independent banks aren't the best idea at the moment since our active users are in short supply.

If anything though, and I don't mean this as a harsh criticism or anything of the sort since I'm glad to see you're getting the ball rolling on this...but perhaps it'd be best to get the Commerce bill up first before jumping into a Banking bill.  That way we're getting an idea of what you're wanting with the currency as well as what will be done with it before discussing a system for something that's currently non-existent. 

And I'm done editing, so you can read the post without worry of it changing an upteenth time. 

If anything though, and I don't mean this as a harsh criticism or anything of the sort since I'm glad to see you're getting the ball rolling on this...but perhaps it'd be best to get the Commerce bill up first before jumping into a Banking bill.  That way we're getting an idea of what you're wanting with the currency as well as what will be done with it before discussing a system for something that's currently non-existent. 

I agree with Pengu, but I'll expand and say that it's doubtful that anyone is going to support the banking system without at least seeing the commerce bill first. Otherwise if the commerce bill is no good we could end up in the unfortunate position of passing a banking bill that's effectively useless and needs repealed...
@beautifulthing @Lord Belmont

I think that's a main fear of mine.  We'd have a completely new system set up, but it'd be completely useless and just sitting there until the commerce bill appears.  If there's issues with that bill or it's decided to not go through entirely, then that system becomes even more useless since it has no purpose until a proper commerce bill is agreed upon.

However, I do agree with @Wintermoot that you wouldn't be able to require him to add anything to the site, and that includes requiring that he create a position in his cabinet to accommodate the banking system.  That's entirely up to him if he wants to introduce the Krone on here, and if he chooses to add a position in the cabinet.  Likewise, if the President and Vice President are just the alternate names of the Jarl and Thane...then this bill is actually illegal since it's Wintermoot/the Monarch/Administration alone that dictates what the Jarls and Thanes of each Ministry do.

If the Regional Treasury is its own entity away from the cabinet, that's a different story...but that's an entirely different monster on its own which would jump into other issues.

In the end though, the Commerce Bill alone would be reduced to being a bill of Guidelines or a set of rules for when/after the Krone is introduced...since, as Wintermoot said, you can't require him to even add the currency in the first place should he decide he doesn't want to introduce it yet.

That's not to say that I wouldn't support a currency system on the website...it really just depends on the specifics. As you might know, we discussed a currency system a year or so ago, and the obstacle to implementing it was a lack of 'gold sink' ideas. If we were to implement a currency system on the website, it would need to be one where people could use their Krone to do cool and meaningful things, either in terms of new features or new things to do or things that enhance their regional character or nation (linked to the upcoming RP updates). I don't really want to waste my time with a system if I don't think people are going to get any use out of it. Also, any administration-supported system would likely gift Krone to donators as a perk of donating to the website...donator perks are also something I'm beginning to give some thought to, especially now that I'm putting together a Patreon.

So I'm kind of where you guys are...without the commerce portion, which I assume will answer what Krone will be used for, I can't really say how much I support this particular system, both as the root admin and as a member of the Overhusen.

I agree with what Pengu and Hannah have said, but would like to add that I wish to see what could come of this idea. I just don't think the UH is the ideal place to take it further. I would advise you to take it straight to Wintermoot, and if it's something he likes, arrangements can be made to give it a test run, similar to how the guilds were launched.

I think what needs to happen is for Erik and Lord Belmont to fully explain their ideas out in layman's terms. It doesn't have to be a bill at this point...just an overview of what the entire system will do. From there, we can figure out where it needs to go in government and how the actual bill would work.

I think what needs to happen is for Erik and Lord Belmont to fully explain their ideas out in layman's terms. It doesn't have to be a bill at this point...just an overview of what the entire system will do. From there, we can figure out where it needs to go in government and how the actual bill would work.

I agree, we don't know who or what or how this  should be handled, it's something without it's full details... basically there's nothing to debate right now until we get the whole idea...

Agreed.  We don't want to put the cart before the horse and get the ball rolling on something we don't know the specifics to just yet.  It'd be a wonderful idea to get a list/guideline/outline of what the entire system would do, what we could expect to be using the currency for, and what can be done to insure that it won't become a bloated system like other messageboards have had happen to them (to where they've completely removed the system).

As I said, I fully and completely support the implementation of currency as I've seen how it can do well for a region...but it has to be done just right.

In any case, this has at least generated a lot more discussion in such a short time than the Storting has seen in quite awhile.

While I am with everyone on this, I also have issues regarding the styling, namely that it violates the traditional/standard way of laying out a bill. Here's a version that actually follows the general standard we use (it changes some wording too):

Spoiler

Title
1. This shall be titled the Regional Treasury and Bank Creation Act

Bank and TreasuryCreation
2. A regional Treasury shall be formed and shall have control over the creation and maintenance of the banking system. The Treasury shall watch over any banks formed by the Monarch.

3. The Monarch shall have the authority to run the Treasury and create a bank. Upon the Passing of this act the Monarch must appoint a Jarl and Thane to run the bank.

Banking staff
4. The Jarl of the Ministry of Banking shall be given the task over overseeing the daily functions of any bank formed. The president shall also work with the President shall also work with the Treasury to set interest rates for accounts and manage the printing of the Krone. The Jarl of the Ministry of Banking shall have the title President of the Bank

5. The Thane of the Ministry of Banking shall be responsible for helping to facilitate the duties of the President and shall also perform monthly audits of all bank accounts and transactions. Any discrepancies found shall be investigated by the Thane. The Thane shall be given the title of Vice President of the Bank

6. The President of the Bank may hire people as employees of the bank. Such employees shall either be bankers or loan officers.
6.1 Bankers shall be responsible for the general maintenance of all accounts with the bank.
6.2 Loan Officers shall be responsible for servicing and collection on loans made through the bank.

Bank Operations
7. The bank shall be allowed to manage, create, and close savings accounts and the bank shall be allowed to issue Loans to Wintreath Citizens.
7.1 Savings Accounts shall be serviced and maintained monthly. The interest rate shall be set by the President of the Bank and the Wintreath Treasury. All interest to any given account shall be compounded quarterly. Requirements to open, maintain, and close an account shall be set by the bank.
7.2 Loans shall be issued by Officers of the bank with the authority to issue Loans. Loan requirements and interest on the loans shall be publicly available. Requirements to get a loan shall be set by the Officers of the Bank with the authority to set Requirements on Loans.

Bank Name
8. The name of the bank shall be decided by public nomination and vote. The voting procedure shall follow that found within the Fundamental Laws for Underhusen Elections. The President may request for the Monarch to allow new elections for a new name every six (6) months.

  Likewise, if the President and Vice President are just the alternate names of the Jarl and Thane...then this bill is actually illegal since it's Wintermoot/the Monarch/Administration alone that dictates what the Jarls and Thanes of each Ministry do.

I do wish to note that this IS technically false. According to the Fundamental Laws, while the Monarch may do everything he does with Ministries (Article II, Sections 2 and 6), it does not explicitly forbid the Storting from creating them or mandating the creation of them, as such due to that the Storting could, technically, create one due to the Necessary and Proper Clause (Article I, Section 10). However notice that I said technically. In reality an attempt would fail at the OH level and I doubt an attempt would pass an override.

Also the mandating to make any changes to the site is indeed illegal.

ALSO CAN YOU GUYS PLEASE STOP RESPONDING SO QUICKLY AND MAYBE WAIT A FEW MINUTES! JESUS!

Go home, Chanku. You're drunk.