View allAll Photos Tagged Guideline,
rules are there to make us more disciplined..... or is it?...... for some, its nothing more than a guideline to be undisciplined..... they're only meant to be broken..... if the rule-makers don't deserve respect, their rules would also face the same fate......
Taken at Mohammadpur, Dhaka, Bangladesh; 11 December 2009
Some background:
The VF-1 was developed by Stonewell/Bellcom/Shinnakasu for the U.N. Spacy by using alien Overtechnology obtained from the SDF-1 Macross alien spaceship. It was preceded into production by an aerodynamic proving version of its airframe, the VF-X. Unlike all later VF vehicles, the VF-X was strictly a jet aircraft, built to demonstrate that a jet fighter with the features necessary to convert to Battroid mode was aerodynamically feasible.
After the VF-X's testing was finished, an advanced concept atmospheric-only prototype, the VF-0 Phoenix, was flight-tested from 2005 to 2007 and briefly served as an active-duty fighter from 2007 to the VF-1's rollout in late 2008, while the bugs were being worked out of the full-up VF-1 prototype (VF-X-1).
The space-capable VF-1's combat debut was on February 7, 2009, during the Battle of South Ataria Island - the first battle of Space War I, and was the mainstay fighter of the U.N. Spacy for the entire conflict. Introduced in 2008, the VF-1 would be out of frontline service just five years later.
The VF-1 proved to be an extremely capable craft, successfully combating a variety of Zentraedi mecha even in most sorties, which saw UN Spacy forces significantly outnumbered. The versatility of the Valkyrie design enabled the variable fighter to act as both large-scale infantry and as air/space superiority fighter. The signature skills of U.N. Spacy ace pilot Maximilian Jenius exemplified the effectiveness of the variable systems as he near-constantly transformed the Valkyrie in battle to seize advantages of each mode as combat conditions changed from moment to moment.
The basic VF-1 was deployed in four minor variants (designated A, D, J, and S) with constant updates and several sub-variants during its long and successful career. Its success was increased by the GBP-1S "Armored" Valkyrie and FAST Pack "Super" Valkyrie weapon systems, the latter enabling the fighter to operate in space.
After the end of Space War I, the VF-1A continued to be manufactured both in the Sol system (notably on the Lunar facility Apollo Base) and throughout the UNG space colonies. Although the VF-1 would eventually be replaced as the primary VF of the UN Spacy by the more capable, but also much bigger, VF-4 Lightning III in 2020, a long service record and continued production after the war proved the lasting worth of the design.
One notable operator of the VF-1 was the U.N. Spacy's Zentraedi Fleet, namely SVF-789, which was founded in 2012 as a cultural integration and training squadron with two flights of VF-1 at Tefé in Brazil. This mixed all-Zentraedi/Meltraedi unit was the first in the UN Spacy’s Zentraedi Fleet to be completely equipped with the 1st generation Valkyrie (other units, like SVF-122, which was made up exclusively from Zentraedi loyalists, kept a mixed lot of vehicles).
SVF-789’s flight leaders and some of its instructors were all former Quadrono Battalion aces (under the command of the famous Milia Fallyna, later married with aforementioned Maximilian Jenius), e. g. the Meltraedi pilot Taqisha T’saqeel. Almost all future Zentraedi and Meltradi pilots for the U.N. Spacy received their training at Tefé, and the squadron was soon expanded to a total of five flights. During this early phase of the squadron's long career the VF-1s carried a characteristic dark-green wrap-around scheme, frequently decorated with colorful trim, reflecting the unit’s Zentraedi/Meltraedi heritage (the squadron’s motto and title “Dar es Carrack” meant “Victory is everywhere”) and boldly representing the individual flights.
In late 2013 the unit embarked upon Breetai Kridanik’s Nupetiet-Vergnitzs-Class Fleet Command Battleship, and the machines received a standard all-grey livery, even though some typical decoration (e. g. the squadron code in Zentraedi symbols) remained.
When the UN Spacy eventually mothballed the majority of its legacy Zentraedi ships, the unit was re-assigned to the Tokugawa-class Super Dimensional Carrier UES Xerxes. In 2022, SVF-789 left the Sol System as part of the Pioneer Mission. By this time it had been made part of the Expeditionary Marine Corps and re-equipped with VAF-6 Alphas.
The VF-1 was without doubt the most recognizable variable fighter of Space War I and was seen as a vibrant symbol of the U.N. Spacy even into the first year of the New Era 0001 in 2013. At the end of 2015 the final rollout of the VF-1 was celebrated at a special ceremony, commemorating this most famous of variable fighters.
The VF-1 Valkryie was built from 2006 to 2013 with a total production of 5,459 VF-1 variable fighters with several variants (VF-1A = 5,093, VF-1D = 85, VF-1J = 49, VF-1S = 30, VF-1G = 12, VE-1 = 122, VT-1 = 68)
However, the fighter remained active in many second line units and continued to show its worthiness years later, e. g. through Milia Jenius who would use her old VF-1 fighter in defense of the colonization fleet - 35 years after the type's service introduction!
General characteristics:
Equipment Type: all-environment variable fighter and tactical combat battroid
Government: U.N. Spacy, U.N. Navy, U.N. Space Air Force
Accommodation: pilot only in Marty & Beck Mk-7 zero/zero ejection seat
Dimensions:
Fighter Mode:
Length 14.23 meters
Wingspan 14.78 meters (fully extended)
Height 3.84 meters
Battroid Mode:
Height 12.68 meters
Width 7.3 meters
Length 4.0 meters
Empty weight: 13.25 metric tons;
Standard T-O mass: 18.5 metric tons;
MTOW: 37.0 metric tons
Powerplant:
2x Shinnakasu Heavy Industry/P&W/Roice FF-2001 thermonuclear reaction turbine engines, output 650 MW each, rated at 11,500 kg in standard or in overboost (225.63 kN x 2)
4 x Shinnakasu Heavy Industry NBS-1 high-thrust vernier thrusters (1 x counter reverse vernier thruster nozzle mounted on the side of each leg nacelle/air intake, 1 x wing thruster roll control system on each wingtip);
18 x P&W LHP04 low-thrust vernier thrusters beneath multipurpose hook/handles
Performance:
Battroid Mode: maximum walking speed 160 km/h
Fighter Mode: at 10,000 m Mach 2.71; at 30,000+ m Mach 3.87
g limit: in space +7
Thrust-to-weight ratio: empty 3.47; standard T-O 2.49; maximum T-O 1.24
Design features:
3-mode variable transformation; variable geometry wing; vertical take-off and landing; control-configurable vehicle; single-axis thrust vectoring; three "magic hand" manipulators for maintenance use; retractable canopy shield for Battroid mode and atmospheric reentry; option of GBP-1S system, atmospheric-escape booster, or FAST Pack system
Transformation:
Standard time from Fighter to Battroid (automated): under 5 sec.
Minimum time from Fighter to Battroid (manual): 0.9 sec.
Armament:
1 x internal Mauler RÖV-20 anti-aircraft laser cannon, firing 6,000 pulses per minute
1 x Howard GU-11 55 mm three-barrel Gatling gun pod with 200 rds fired at 1,200 rds/min
4 x underwing hard points for a wide variety of ordnance, including
- 12x AMM-1 hybrid guided multipurpose missiles (3/point), or
- 12x MK-82 LDGB conventional bombs (3/point), or
- 6x RMS-1 large anti-ship reaction missiles (2/outboard point, 1/inboard point), or
- 4x UUM-7 micro-missile pods (1/point), each carrying 15x Bifors HMM-01 micro-missiles,
or a combination of above load-outs
Optional Armament:
Shinnakasu Heavy Industry GBP-1S ground-combat protector weapon system, or
Shinnakasu Heavy Industry FAST Pack augmentative space weapon system
The kit and its assembly:
Another vintage 1:100 ARII VF-1, but part of a model series around the canonical SVF-789 squadron. This one was inspired by a profile of such a machine in the “Macross Variable Fighter Master File: VF-1 Valkyrie Part 1” Art Book – true robot porn and full of valuable detail and background material for anyone who’d consider building a VF-1.
The SVF-789 machine shown in the book is a simple VF-1A, but with Zentraedi language markings and in a rather unusual livery in all dark green, yellow and black trim and grey low-viz roundels. While this does IMHO not really look sexy, I found the idea of a squadron, manned by former (alien) enemies very interesting. And so I took up the idea and started fleshing it out – including the idea of SVF-789’s initial base deep in the Amazonian jungle (justifying somehow the all-green livery!?).
The small VF-1A kit was built OOB, with the landing gear tucked up and the usual additions of some blade antennae, a pilot figure and a custom display stand in/under the ventral cannon pod. Even the ordnance of a dozen AMM-1 missiles on the four underwing pylons is OOB. Nothing fancy.
Painting and markings:
I used the profile from the book as a guideline, but did not want to copy it – also because of technical problems I just took the overall style and created something that would just be a machine from another flight.
The overall concept of an all-green livery with a white nose tip was kept, together with the yellow trim on wings, fins and the stabilizer fins on the Valkyrie’s legs. Zentraedi vehicles tend to be rather colorful, so the tones I chose for painting were rather bright. For instance, the initial idea for the green was FS 34079, a tone which also comes close to the printed profile in the book. But it looked IMHO too militaristic, or too little anime-esque, so I eventually settled for something brighter and used Humbrol 195 (Dark Satin Green, actually RAL 6020, Chromoxyd Grün, a color used on German railway wagons during and after WWII), later shaded with black ink for the engravings and Humbrol 76 (Uniform Green) for highlights.
The nose became pure white, the leading edge trim was painted with Revell 310 (Lufthansa Gelb, RAL 1028), a deep and rich tone that stands out well from the murky green.
Anyway, I found the original black trim on the green basis to be a bit dull, lacking contrast to the murky green. So I replaced it with a Zentraedi-esque pale blue (RLM 65/FS35414) and added more of this color e. g. to the fin tips, the VF-1’s head, the shoulder covers and as stripes along the legs, the cockpit flanks and a chevron on the breastplate. Instead of masking and painting these trim lines by hand, I used blank decal sheet and painted the thinned enamel onto it, so that the stripes are actually self-made, cut-out decals. Experimental, yes, but it works.
The cockpit interior was, according to Macross references, painted in Dark Gull Grey. The seat received brown cushions and the pilot figure was turned into a micronized Zentraedi with a colorful jumpsuit in violet and white, a white and red helmet – and bright green skin! As another weirdo idea, the gun pod became dark blue (in fact new Humbrol 112, Field Blue), and the AAM-1 missiles received a pale grey basis instead of harsh white.
In order to add some more color contrast the U.N. Spacy roundels were applied in standard full color versions, the squadron emblem/symbol on the fin was painted with a brush. Since I can not print white letters onto clear decal sheet at home, the aircraft’s tactical code ‘415’ was created with letters from the human alphabet. A simplification and deviation from the original concept, but I found the only alternative of painting tiny and delicate Zentraedi codes by brush and hand just to be too risky.
Finally the small kit was sealed with a sheen acrylic varnish – with the many, contrasting colors a pure matt finish somehow did not appear right.
Building was simple, but the blue trim took some time to create and apply. This Zentraedi-style VF-1 looks very different, though - if not odd. And there’s more in the creative pipeline from SVF-789 – including another VF-1, this time a flight leader’s mount (with even more bright and exotic colors!) and a large scale character figure, a converted resin garage kit.
Get our gorgeous designer suits for women from mensusa which are the current trend of 2013… To get tips on how to look gorgeous in your suit visit mensusa-suits-guideline.blogspot.com/2013/06/tips-to-look....
A Scania K360 EB6/Irizar PB C49Ft.
At one time this coach sported an England 'Three Lions' vinyl and its registration also has an England football theme.
Location; M6, Cheshire
15 - 036
05/2012 - new to Guideline; Battersea (LN)
??/???? - passed to Avacab; Leyland (LA)
06/2019 - passed to Gardiners NMC; Morpeth (ND).
GL12 LON
Mercedes-Benz O816D / Unvi
Guideline Coaches of Battersea
National Motor Museum, Beaulieu, Hampshire, 23rd May 2013.
New to Guideline of Battersea. Acted as English FA team coach when with this operator. Then with Harlequin Coaches of Livingston.
Today’s Daily Shoot assignment is:
The rule of thirds is a time-honored composition guideline. Put it to use today in a photo.
Haven't seen one of these beach morning glories for awhile - likely due to the recent cold weather. This one popped out from under the kayaks and what a beautiful sight on a cloudy day! 3rd Ave N & Gulf of Mexico, Naples, FL
Germany, Hamburg, on the left.....
“Marco Polo Tower” build in 2009 at the Hamburg new harbour city is 16 storeys & 55 m high.
The so called “Design Ready” concept by the “Behnisch Architects” from Stuttgart signifies, you pay money for the basic m2 space, all inside walls, electric wiring, water installations etc you build at your own plans, taste, needs & additional cost.
The basic “Design Ready” concept square meter price currently varies between 3.500 € & 11.500 €, it is currently the most expensive apartment building in Hamburg, some apartments are still available.
On the right.....
“Unilever” head quarter for Germany, Austria & Switzerland opened in 2009 & nominated as the best office building world wide, awarded at the World Architecture Festival Award 2009 in Barcelona, also received several other awards like BEX-Award* etc.
The guideline for the building was an innovational ecology concept, it is world wide the first building with almost exclusively LED lamps, construction components for an active cooling systems, as wall as a head-recycling system on the roof & ecological building materials, a glass roof covers the six floors high, with light flooded, atrium.
“Behnisch Architects” in Stuttgart designed the project.
...Danke, Xièxie 谢谢, Thanks, Gracias, Merci, Grazie, Obrigado, Arigatô, Dhanyavad, Chokrane to you for over
2,5 million visits in my photostream with countless motivating comments
======================================================
The Noble Eightfold Path describes the way to the end of suffering, as it was laid out by Siddhartha Gautama. It is a practical guideline to ethical and mental development with the goal of freeing the individual from attachments and delusions; and it finally leads to understanding the truth about all things. Together with the Four Noble Truths it constitutes the gist of Buddhism. Great emphasis is put on the practical aspect, because it is only through practice that one can attain a higher level of existence and finally reach Nirvana. The eight aspects of the path are not to be understood as a sequence of single steps, instead they are highly interdependent principles that have to be seen in relationship with each other.
1. Right View
Right view is the beginning and the end of the path, it simply means to see and to understand things as they really are and to realise the Four Noble Truths. As such, right view is the cognitive aspect of wisdom. It means to see things through, to grasp the impermanent and imperfect nature of worldly objects and ideas, and to understand the law of karma and karmic conditioning. Right view is not necessarily an intellectual capacity, just as wisdom is not just a matter of intelligence. Instead, right view is attained, sustained, and enhanced through all capacities of mind. It begins with the intuitive insight that all beings are subject to suffering and it ends with complete understanding of the true nature of all things. Since our view of the world forms our thoughts and our actions, right view yields right thoughts and right actions.
2. Right Intention
While right view refers to the cognitive aspect of wisdom, right intention refers to the volitional aspect, i.e. the kind of mental energy that controls our actions. Right intention can be described best as commitment to ethical and mental self-improvement. Buddha distinguishes three types of right intentions: 1. the intention of renunciation, which means resistance to the pull of desire, 2. the intention of good will, meaning resistance to feelings of anger and aversion, and 3. the intention of harmlessness, meaning not to think or act cruelly, violently, or aggressively, and to develop compassion.
3. Right Speech
Right speech is the first principle of ethical conduct in the eightfold path. Ethical conduct is viewed as a guideline to moral discipline, which supports the other principles of the path. This aspect is not self-sufficient, however, essential, because mental purification can only be achieved through the cultivation of ethical conduct. The importance of speech in the context of Buddhist ethics is obvious: words can break or save lives, make enemies or friends, start war or create peace. Buddha explained right speech as follows: 1. to abstain from false speech, especially not to tell deliberate lies and not to speak deceitfully, 2. to abstain from slanderous speech and not to use words maliciously against others, 3. to abstain from harsh words that offend or hurt others, and 4. to abstain from idle chatter that lacks purpose or depth. Positively phrased, this means to tell the truth, to speak friendly, warm, and gently and to talk only when necessary.
4. Right Action
The second ethical principle, right action, involves the body as natural means of expression, as it refers to deeds that involve bodily actions. Unwholesome actions lead to unsound states of mind, while wholesome actions lead to sound states of mind. Again, the principle is explained in terms of abstinence: right action means 1. to abstain from harming sentient beings, especially to abstain from taking life (including suicide) and doing harm intentionally or delinquently, 2. to abstain from taking what is not given, which includes stealing, robbery, fraud, deceitfulness, and dishonesty, and 3. to abstain from sexual misconduct. Positively formulated, right action means to act kindly and compassionately, to be honest, to respect the belongings of others, and to keep sexual relationships harmless to others. Further details regarding the concrete meaning of right action can be found in the Precepts.
5. Right Livelihood
Right livelihood means that one should earn one's living in a righteous way and that wealth should be gained legally and peacefully. The Buddha mentions four specific activities that harm other beings and that one should avoid for this reason: 1. dealing in weapons, 2. dealing in living beings (including raising animals for slaughter as well as slave trade and prostitution), 3. working in meat production and butchery, and 4. selling intoxicants and poisons, such as alcohol and drugs. Furthermore any other occupation that would violate the principles of right speech and right action should be avoided.
6. Right Effort
Right effort can be seen as a prerequisite for the other principles of the path. Without effort, which is in itself an act of will, nothing can be achieved, whereas misguided effort distracts the mind from its task, and confusion will be the consequence. Mental energy is the force behind right effort; it can occur in either wholesome or unwholesome states. The same type of energy that fuels desire, envy, aggression, and violence can on the other side fuel self-discipline, honesty, benevolence, and kindness. Right effort is detailed in four types of endeavours that rank in ascending order of perfection: 1. to prevent the arising of unarisen unwholesome states, 2. to abandon unwholesome states that have already arisen, 3. to arouse wholesome states that have not yet arisen, and 4. to maintain and perfect wholesome states already arisen.
7. Right Mindfulness
Right mindfulness is the controlled and perfected faculty of cognition. It is the mental ability to see things as they are, with clear consciousness. Usually, the cognitive process begins with an impression induced by perception, or by a thought, but then it does not stay with the mere impression. Instead, we almost always conceptualise sense impressions and thoughts immediately. We interpret them and set them in relation to other thoughts and experiences, which naturally go beyond the facticity of the original impression. The mind then posits concepts, joins concepts into constructs, and weaves those constructs into complex interpretative schemes. All this happens only half consciously, and as a result we often see things obscured. Right mindfulness is anchored in clear perception and it penetrates impressions without getting carried away. Right mindfulness enables us to be aware of the process of conceptualisation in a way that we actively observe and control the way our thoughts go. Buddha accounted for this as the four foundations of mindfulness: 1. contemplation of the body, 2. contemplation of feeling (repulsive, attractive, or neutral), 3. contemplation of the state of mind, and 4. contemplation of the phenomena.
8. Right Concentration
The eighth principle of the path, right concentration, refers to the development of a mental force that occurs in natural consciousness, although at a relatively low level of intensity, namely concentration. Concentration in this context is described as one-pointedness of mind, meaning a state where all mental faculties are unified and directed onto one particular object. Right concentration for the purpose of the eightfold path means wholesome concentration, i.e. concentration on wholesome thoughts and actions. The Buddhist method of choice to develop right concentration is through the practice of meditation. The meditating mind focuses on a selected object. It first directs itself onto it, then sustains concentration, and finally intensifies concentration step by step. Through this practice it becomes natural to apply elevated levels of concentration also in everyday situations.
Scania K400EB6 Irizar i6 C52FT
Acquired - 3/24
Ex - Guideline,Chelsfield
Ex - Harris Travel,Blackburn
Ex - Abbey Coaches,Blackburn
Location - Great Central Way,Neasden.
The kit and its assembly:
Another vintage 1:100 ARII VF-1, but part of a model series around the canonical SVF-789 squadron. This one was inspired by a profile of such a machine in the “Macross Variable Fighter Master File: VF-1 Valkyrie Part 1” Art Book – true robot porn and full of valuable detail and background material for anyone who’d consider building a VF-1.
The SVF-789 machine shown in the book is a simple VF-1A, but with Zentraedi language markings and in a rather unusual livery in all dark green, yellow and black trim and grey low-viz roundels. While this does IMHO not really look sexy, I found the idea of a squadron, manned by former (alien) enemies very interesting. And so I took up the idea and started fleshing it out – including the idea of SVF-789’s initial base deep in the Amazonian jungle (justifying somehow the all-green livery!?).
The small VF-1A kit was built OOB, with the landing gear tucked up and the usual additions of some blade antennae, a pilot figure and a custom display stand in/under the ventral cannon pod. Even the ordnance of a dozen AMM-1 missiles on the four underwing pylons is OOB. Nothing fancy.
Painting and markings:
I used the profile from the book as a guideline, but did not want to copy it – also because of technical problems I just took the overall style and created something that would just be a machine from another flight.
The overall concept of an all-green livery with a white nose tip was kept, together with the yellow trim on wings, fins and the stabilizer fins on the Valkyrie’s legs. Zentraedi vehicles tend to be rather colorful, so the tones I chose for painting were rather bright. For instance, the initial idea for the green was FS 34079, a tone which also comes close to the printed profile in the book. But it looked IMHO too militaristic, or too little anime-esque, so I eventually settled for something brighter and used Humbrol 195 (Dark Satin Green, actually RAL 6020, Chromoxyd Grün, a color used on German railway wagons during and after WWII), later shaded with black ink for the engravings and Humbrol 76 (Uniform Green) for highlights.
The nose became pure white, the leading edge trim was painted with Revell 310 (Lufthansa Gelb, RAL 1028), a deep and rich tone that stands out well from the murky green.
Anyway, I found the original black trim on the green basis to be a bit dull, lacking contrast to the murky green. So I replaced it with a Zentraedi-esque pale blue (RLM 65/FS35414) and added more of this color e. g. to the fin tips, the VF-1’s head, the shoulder covers and as stripes along the legs, the cockpit flanks and a chevron on the breastplate. Instead of masking and painting these trim lines by hand, I used blank decal sheet and painted the thinned enamel onto it, so that the stripes are actually self-made, cut-out decals. Experimental, yes, but it works.
The cockpit interior was, according to Macross references, painted in Dark Gull Grey. The seat received brown cushions and the pilot figure was turned into a micronized Zentraedi with a colorful jumpsuit in violet and white, a white and red helmet – and bright green skin! As another weirdo idea, the gun pod became dark blue (in fact new Humbrol 112, Field Blue), and the AAM-1 missiles received a pale grey basis instead of harsh white.
In order to add some more color contrast the U.N. Spacy roundels were applied in standard full color versions, the squadron emblem/symbol on the fin was painted with a brush. Since I can not print white letters onto clear decal sheet at home, the aircraft’s tactical code ‘415’ was created with letters from the human alphabet. A simplification and deviation from the original concept, but I found the only alternative of painting tiny and delicate Zentraedi codes by brush and hand just to be too risky.
Finally the small kit was sealed with a sheen acrylic varnish – with the many, contrasting colors a pure matt finish somehow did not appear right.
Following on the neo-trad/new urbanists use of a 'pattern book' is the idea here to create a material and tectonic vocabulary for the development in the Midwest.
Here, is the wall construction snip. This contains recipes for window types and placements, moving doors for privacy, cast earth wall and floor technologies and radiant heating systems. Each guideline typically has a plan or section on the left, and then the complimentary plan or section on the right of the photo.
The photos are examples from the existing landscape/architecture.
Southend United Football Club Team Coach at Brunton Park, Carlisle. Previously with Guideline, London as team transport for the England Football Association.
Painting and markings:
This was planned to be a more exotic or extravagant interpretation of the profile from the book, which was already used as a guideline for the VF-1A build. The overall design of an all-green livery with a white nose tip as basis was kept, together with yellow trim on wings, fins and the stabilizer fins on the Valkyrie’s legs. The VF-1A already deviated from this slightly, but now I wanted something more outstanding – a bold flight leader’s mount.
Zentraedi vehicles tend to be rather colorful, so the tones I chose for painting were rather bright. For instance, the initial idea for the green was FS 34079, a tone which also comes close to the printed profile in the book. But it looked IMHO too militaristic, or too little anime-esque, so I eventually settled for something brighter and used Humbrol 195 (Dark Satin Green, actually RAL 6020, Chromoxyd Grün, a color used on German railway wagons during and after WWII), later shaded with black ink for the engravings and Humbrol 76 (Uniform Green) for highlights.
The nose became pure white, the leading edge trim was painted with Revell 310 (Lufthansa Gelb, RAL 1028), a deep and rich tone that stands out well from the murky green.
In order to set this J Valkyrie apart from the all-dark green basic VF-1As, I added a bright green (Humbrol 38, Lime) to the legs, around the cockpit section and on the fin. As an additional contrast, the head, shoulder guards and some additional trim highlights were painted in a pale purple (Napoleonic Violet from ModelMaster’s Authentic Line). Sick color combination, but very Zentraedi/Meltraedi-esque!
The cockpit interior was, according to Macross references, painted in Dark Gull Grey. The seat received brown cushions and the pilot figure was turned into a micronized Meltraedi (yes, the fictional pilot Taqisha T’saqeel is female) with a colorful jumpsuit in violet and white, a white and red helmet – and bright green skin! The gun pod became dark blue (Humbrol 112, Field Blue), the AAM-1 and the air-to-ground missiles received a pale grey livery while the ECM pod became white and the chaff dispenser standard dark green.
The U.N. Spacy roundels were applied in standard full color versions, the squadron emblem/symbol on the fin was painted with a brush. Since I can not print white letters onto clear decal sheet at home, the aircraft’s tactical code ‘200’ was created with letters from the human alphabet. A simplification and deviation from the original concept, but I found the only alternative of painting tiny and delicate Zentraedi codes by brush and hand just to be too risky.
Finally, the kit was sealed with a sheen acrylic varnish – with the many, contrasting colors a pure matt finish somehow did not appear right.
1.Last night I reduced my contact list from 124 to 97. Virtually all of those removed had not left a single comment in the last 30 days or longer. Interaction between contacts is an essential part of Flickr. I spend a lot of time virtually every day leaving comments and awards. That is the point of being a contact.
If anyone thinks that I’ve not done sufficient commenting on his/her photos, remove me as a contact. That’s only fair.
2. I also removed seven groups from my list…the first step of several. I have a strong distaste for photos shown only in small size. It seems that more and more on Flickr are offering their photos only small. So I’ve developed a personal guideline. When I go to a group to comment or award, if I click on five straight thumbnails with photos only small, I leave that group. Set in stone. I left a group I really like for that reason. NINE of the first ten I looked at were small only, and I had to click on TWENTY-FIVE thumbnails to find three offered in all sizes.
FA60ENG Scania TriAxle Irizar PB was new May 2011 to Guideline of Battersea, London.
Seen near Sherwood Forest approaching the A1 on a very dull Spring 'Solar Eclipse' day.
11. Kathy’s Camera Techniques – The Rule of Thirds - Wikipedia explains the Rule of Thirds as follows: "The guideline proposes that an image should be imagined as divided into nine equal parts by two equally spaced horizontal lines and two equally spaced vertical lines, and that important compositional elements should be placed along these lines or their intersections." Take a picture that uses the Rule of Thirds. PS - Google "The Rule of Thirds" and you will find tons of information about this technique. - (Evergreengirl) –TH2/15/11
I have kept the jetty and the wave on the on the Rule of Thirds horizontal lines, the pelican is on the left vertical line, purposely not on the intersection and neither are the people on the jetty; this is to not draw the eye to the too much - the stronger of the two is the pelican; the jetty is the main subject
Oesterreichische Nationalbank
Logo of the Austrian National Bank
Headquarters Vienna, Austria
Central Bank of Austria
Currency€
To ISO 4217 EUR
website
Previous Austro- Hungarian Bank
List of Central Banks
Oesterreichische Nationalbank, at Otto-Wagner -Platz No. 3, Vienna
The Austrian National Bank (OeNB), Austria's central bank as an integral part of the European System of Central Banks (ESCB) and the Eurosystem. It is instrumental in the design of the economic development in Austria and in the euro area. Legally, the OeNB is a public limited company.. However, it is also subject to further enshrined in the National Bank Act regulations resulting from its separate position as a central bank. In the framework of the Eurosystem, the OeNB contributes to a stability-oriented monetary policy. At the national level, it cares about the preservation of financial stability and the money supply and manage foreign exchange reserves to hedge against the euro in times of crisis. The guideline values in terms of the tasks of the Austrian National Bank are "security, stability and trust".
Contents
1 History
1.1 1816 to 1818
1.2 1818 to 1878
1.3 1878 to 1922
1.4 1922 to 1938
1.5 1938 to 1945
1.6 1945 to 1998
1.7 From 1999
2 The OeNB as a modern central bank
3 Legal form and organs
3.1 Legal framework
3.2 organs
3.2.1 General
3.2.2 General
3.2.3 Board of Directors
4 Tasks
4.1 Monetary policy strategies and monetary policy decision-making process
4.1.1 Economic analysis
4.1.2 Production of statistical information
4.1.3 Contribute to international organizations
4.2 Implementation of monetary policy
4.2.1 use of monetary policy instruments
4.2.2 Reserve Management
4.2.3 Money Supply
4.3 Communication of monetary policy
4.4 ensure financial stability
4.4.1 Financial Stability
4.4.2 Payment System Stability and payments
5 The OeNB in the European System of National Banks
6 President / Governors
7 See also
8 Literature
9 links
10 Notes and references
History
1816-1818
As long as 50 years before the founding of the National Bank the Habsburgs carried out first experiments with securities in the form of paper money. Finally, in the 18th Century the issue of banknotes transferred to a state independent institution, while the issue of paper money called "Banco notes," founded in 1705 by the "Vienna City Bank" took place in 1762.
In wartime governance took back control of the money issue, so there was an inflation of Banco-Zettel 1796-1810. The state ordered the forced acceptance of paper money in private transport, which led to a fast-growing discount on bills in the market. 1799 was therefore one for 100 guilders paper money only 92 guilders in silver coins, and at the end of 1810 the value of the paper florin had fallen to 15 % of the nominal value of the Banco-Zettel. Later, the Habsburgs declared a devaluation of the Banco-Zettel in the ratio of 5:1. This act was considered by the business community as a sovereign default, which the paper money experienced a rapid devaluation.
At the end of the Napoleonic wars the Habsburg multinational state ( → Habsburg Monarchy) faced a new challenge: the restoration of a European balance. Church, the nobility, the army and the bureaucracy as elements in the Ancien Régime were not sufficient to solve this problem, a well -founded economic situation was needed. Moreover, one could not ignore readily the laws of supply and demand.
In this regard, were the first June 1816 by Emperor Francis I two patents issued (later to distinguish the "main patent" or "bank patent"), the "privileged Austrian National Bank", conceived as a public company, had to constitute itself as soon a possible, propose the emperor three of its directors for selection of the governor and take up their activity provisionally on 1 July 1816.
The National Bank had henceforth a monopoly on the issuance of paper money, which led to a slowdown in the Austrian monetary system and an increase in the value of paper money. The economy was again a solid source of money keeping constant the value of money regardless of the spending plans of the State. The equity of the Bank justified this by share issues.
Initially comprised the activities of the bank - under temporary management - the redemption of paper money and the issuance of shares. The full effectiveness attained the National Bank until after the issue of 1,000 shares and the associated possibility of shareholders to set the management themselves.
1818-1878
On 15 July 1817 recieved the National Bank as the "first Bankprivilegium" the exclusive right to unrestricted issue of banknotes and in this context a special position in terms of Rediskontgeschäfts (rediscount business). Beginning of 1818 the definitive bank management was ready. Part of it were among leading figures of Viennese society, including the banker Johann Heinrich von Geymüller and Bernard of Eskeles. From 1830 to 1837 the Office of the Governor was held by Adrian Nicholas Baron Barbier.
In the countries of the Habsburg Monarchy, which were characterized in large part by an agricultural oriented activity pattern, some regions showed a lively commercial-industrial growth. The goal now was to create a system of economic exchange between these areas. Successively established the National Bank branch network and thus guaranteed a uniform money and credit supply. From its headquarters in Vienna this network extended over early industrial areas and commercial centers in Eastern and Central Europe to the northern Mediterranean.
Trade bills and coins were preferred assets of the National Bank, less the supply of money to the state. With the exchange transactions, the National Bank supported the economic growth of the monarchy and secured at the same time the supply of silver coins in the event that the need for these increases in exchange for bank notes, contrary to expectations. 1818 was the National Bank, however, by increasing public debt, due to high spending in times of crisis, not spared to make an increase in the government debt positions on the asset side of its balance sheet.
The patent provisions of the founding of the National Bank not sufficiently secured against the autonomy of governance. At the center of the struggle for independence, this was the question of the extent to which the issue of banknotes must be made on the basis of government bonds. In 1841, a renewal of Bankprivilegiums got a weakening of the independence by pushing back the influence of the shareholders in favor of the state administration. During the revolution of 1848/49 followers of constitutional goals received great support from senior figures in the National Bank. For about a hundred years, the Austrian branch of the Rothschild bank (from which from 1855, the "Royal Privileged Austrian Credit-Institute for Commerce and Industry", the later Creditanstalt, was born) was playing a leading role in the banking center of Vienna. Salomon Mayer von Rothschild was involved during the pre-March in all major transactions of the National Bank for the rehabilitation of the state budget.
Special focus the National Bank was putting on the development of the premium that was payable at the exchange of banknotes into silver money in business dealings. The increase, which corresponded to a depreciation of the notes issued by the Bank should be prevented. From an overall state perspective, the increase of the silver premium means a deterioration in terms of the exchange ratio towards foreign countries, influencing the price competitiveness of the Austrian foreign trade adversely. The stabilization of the premium were set some limits. Although the height of the emission activitiy was depending on the Bank, but also the price of silver and the potential effects of increased government debt materially affected the silver premium. Especially the 1848 revolution and conflicts in the following years caused an increasement of the silver premium.
Mid-century, the private banking and wholesale houses were no longer able to cope with the rapidly growing financial intermediation of the Habsburg monarchy. New forms of capital formation were required. From an initiative of the House of Rothschild, the first by the government approved and private joint-stock bank was created. This formation was followed in 1863 and 1864 by two other joint-stock banks, whose major shareholders included important personalities of the aristocracy, who possessed large liquid funds. Overall, grew with these banks the money creation potential of the "financial center of Vienna".
The central bank faced another difficult task: with its limited resources it had to secure sufficient liquidity on the one hand and on the other hand prevent the inflationary expansion of the money supply. Through close contacts with the shareholders of Vienna was a financial center (informal) ballot, especially in times of crisis, easily dealt out. In contrast, it gave differences of opinion in the Fed Board, which required enforcement of decisions.
In 1861, Friedrich Schey Koromla became director of the National Bank. On 27 December 1862 experienced the Bankprivilegium another innovation. The independence of the National Bank of the State was restored and anchored. Furthermore, was introduced the direct allocation of banknotes in circulation by the system of "Peel'schen Bank Act", which states that the fixed budget of 200 million guilders exceeding circulation of banknotes must be covered by silver coins. In 1866, when the German war ended in defeat for Austria, the compliance of the system was no longer met. The state felt itself forced to pay compensation for breach of privilege. This balance was supported by a law of 1872, after the National Bank may issue notes up to a maximum of 200 million guilders and each additional payment must be fully backed by gold or silver.
1873 the economic boom of the Habsburg monarchy was represented in a long-lasting rise in the share price. A now to be expecting break could by the behavior of the Vienna Stock not be intercepted, so it came to the "Great Crash of 1873". The in 1872 fixed restrictions of the circulation of notes for a short time have been suspended. Contrary to expectations, the money supply in crisis peak but only outgrew by nearly 1% the prescribed limit in the bank acts. The banks and the industrial and commercial companies survived the crash without major losses, although the share prices significantly lay below the initial level.
The years with high growth were followed by a period of stagnation.
1878-1922
As part of the compensation negotiations between Austria and Hungary in 1867, the National Bank was able to exercise fully their Privilegialrechte, the Kingdom of Hungary but now had the certified right, every ten years exercisable, to found an own central bank (bank note). As resulted from the first 10 -year period that furthermore none of the two parts of the monarchy wanted to build an independent money-issuing bank (Zettelbank), was built on 28 June 1878, initially to 31 December 1887 limited, an Austro-Hungarian Bank, and equipped with the Fed privilege. The first privilege of the new bank was a compromise in which on the one hand, regulations on liability for national debts as well as regulations limiting the influence of the government on banking businesses were included. 1878 Gustav Leonhardt was Secretary of the Bank.
The General Assembly and the General Council formed the unit of the bank management. Two directorates and major institutions - in Vienna and Budapest - represented the dual nature of the bank. 1892-1900 followed a long discussion finally the currency conversion from guilders (silver currency) to the crown (gold standard) with "Gold Crown" said coins.
Since the new banknotes were very popular in the public, now many gold coins piled up in the vaults of the Austro-Hungarian Bank. This period was characterized by a balanced combination of price growth and damping, the "per capita national product" grew while prices remained mostly stable. Against this background, it was easy for the Fed to encourage a new wave of industrialization.
With a third privilege in 1899 conditions were established under which the bank could be put into the financial services of the two countries, on the other hand there have been important innovations that paved a good exchange policy. By 1914, the exchange ratio of the Austro-Hungarian currency was unchanged with only minor fluctuations. In contrast, was the by conflicts marked political development.
The expansive foreign policy quickly led to high costs from which had to be shouldered by the central bank a significant part. The stability of the currency was in danger. Shortly after the beginning of World War I in 1914, laid down the Military Command to indemnify any seized property with double the price. There was an increasing scarcity of goods, connected with an ongoing expansion of the money supply and finally the increase in the price level on the 16-fold.
The resulting cost of the war of the Dual Monarchy were covered to 40% on central bank loans and 60% through war bonds. Over the duration of the war, the power force built up in recent decades has been frozen at the end of the conflict in 1918, the real income of the workers had fallen to one-fifth of the last year of peace.
With the end of the war the end for the old order had come, too. The decay of Cisleithania and Transleithania caused in several successor states, despite the efforts of the central bank to maintain the order, a currency separation (see Crown Currency in the decay of the monarchy, successor states). First, a separate "Austrian management" of the bank was introduced. It was encouraged to shoulder the shortcomings of the state budget of the Republic of Austria founded in 1918.
The new South Slav state began in January 1919 stamping its crown banknotes. The newly founded Czechoslovak Republic retained the crown currency (to date), but their printed banknotes in circulation as of February 1919 with indications that now these ar Czechoslovak crowns. (The country could an inflation as experienced by Austria avoide.) In March 1919, German Austria began to stamp its crown banknotes.
The Treaty of Saint-Germain-en-Laye of 10 September 1919, by Austria on 25 October 1919 ratified and which on 16 July 1920 came into force, determined the cancellation and replacement of all crown banknotes of all successor states of Austria-Hungary as well as the complete liquidation of the Austro-Hungarian Bank under the supervision of the war winners. The last meetings of the Bank took place mid 1921 and at the end of 1922.
After a period of overvaluation of the crown the dollar rate rose from 1919 again. 1921, had to be paid over 5,000 Austrian crowns per dollar. In addition to the significant drop in the external value existed in Austria rising inflation. End of 1922 was ultimately a rehabilitation program with foreign assistance - the "Geneva Protocol" - passed which slowed down the inflation.
1922-1938
With Federal Law of 24 July 1922 the Minister of Finance was commissioned to build a central bank, which had to take over the entire note circulation plus current liabilities of the Austrian management of the Austro-Hungarian Bank. With Federal Law of 14 November 1922, certain provisions of the law were amended and promulgated the statutes of the Austrian National Bank. By order of the Federal Government Seipel I 29 December 1922, the Board of the Austrian Austro-Hungarian Bank issued authorization for the central bank union activity with 1 January 1923 have been declared extinct and was made known the commencement of operations of the Oesterreichische Nationalbank this day.
The statutes of the Austrian National Bank (OeNB) secured the independence from the state, the independence of the Bank under exclusion of external influences and the corresponding equity. First, the stabilization of the Austrian currency was at the forefront. With the Schilling Act of 20 December 1924 was the schilling currency (First Republic) with 1 Introduced in March 1925, it replaced the crown currency. For 10,000 crowns now you got a shilling.
As an important personality in terms of the order of the state budget, Dr. Victor Kienböck has to be mentioned. He was in the time from 1922 to 1924 and from 1926 to 1929 finance minister of the First Republic and from 1932 to 1938 President of the Austrian National Bank. Through his work remained the Austrian Schilling, also beyound the global economy crisis, stable. Under this condition, the Fed was able to cope with the large number of bank failures of the past.
1938-1945
According to the on 13th March issued Anschlussgesetz (annexation law) , the Reichsmark with order of the Fuehrer and Chancellor of 17 was March 1938 introduced in the country Austria and determines the course: A Reichsmark is equal to one shilling fifty pence. On the same day, the Chancellor ordered that the management of the to be liquidated National Bank was transferred to the Reichsbank.
With regulation of three ministers of the German Reich of 23 April 1938, the National Bank was established as a property of the Reichsbank and its banknotes the quality as legal tender by 25 April 1938 withdrawn; public funds had Schilling banknotes until 15th of may in 1938 to accept. All the gold and foreign exchange reserves were transferred to Berlin.
The Second World War weakened the Austrian economy to a great extent, the production force after the war corresponded to only 40% of that of 1937 (see also air raids on Austria). To finance the war, the Reichsbank brought to a high degree banknotes in circulation, which only a great victory of the kingdom (Reich) actual values would have been opposable. Since prices were strictly regulated, inflation virtually could be "banned" during the war.
1945-1998
In occupied postwar Austria about 10 billion shillings by Allied military occupying powers were initially printed, which contributed to significant price increases.
With the re-establishment of the Republic of Austria by the Austrian declaration of independence of 27 April 1945, it came to the resumption of activities of the Oesterreichische Nationalbank. By the "Fed Transition Act" of July 1945 preliminary legal regulations for the operations of the Bank have been established. The restoration of the Austrian currency was their first big job. The goal was the summary of all currencies, which at the time were in circulation, and their secondment to a new Austrian currency. The "Schilling Act" of November 1945, the basis for the re-introduction of the Schilling (Second Republic) as legal tender in Austria. The next step was to reduce excess liquidity to make necessary funds for new business investment available and to make the external value of the shilling for the development of the economy competitive. First, however, less changed the inflationary situation and also the shilling was still significantly undervalued in relation to other currencies.
The "Currency Protection Act" of 1947 brought a significant change in the monetary overhang. Some deposits have been deleted without replacement, others converted into claims against the Federal Treasury. The following exchange operations also significantly reduced the amount of cash: banknotes from 1945 were canceled and exchanged for new schilling notes in the ratio 1:3. Only 150 shillings per person could go 1-1.
To control inflation, the social partners came to the foreground. The associations of employers and employees set in 1947 prices for supplies, wages were also raised. This was the first of the five "wage-price agreements" of the social partners. In 1952, inflation was held back by limiting the use of monetary policy instruments by the National Bank. Also, the external sector slowly relaxed after the end of the Korean War.
In 1955, the Austrian National Bank was re-established by the new National Bank Act as a corporation and the by the National Bank Transition of Authorities Act (Nationalbank-Überleitungsgesetz) established provisional arragement abolished. The National Bank Act stipulated that each half of the capital should be situated at the federal government and private shareholders. In addition to the independence of bank loans of the state, the new National Bank Act also contained an order that the central bank must watch within their monetary and credit policies on the economic policies of the federal government. From now on also included within the instruments of the National Bank were the areas open market and minimum reserve policy.
The Austrian economy increasingly stabilized, through good fiscal and monetary policy a high growth could be attained, with low inflation and long-term maintenance of external equilibrium.
1960, Austria joined the European Free Trade Association and participated in the European integration.
In the sixties came the international monetary system based on gold-dollar convertibility into currency fluctuations and political reforms were necessary. First, the loosening of exchange rate adjustments between several states was an option. However, U.S. balance of payments problems brought with it restrictions on capital movements, and then the Euro-Dollar market was born. In 1971, the convertibility of the U.S. dollar was lifted.
1975 interrupted a recession increasing growth time. International unbalanced ayments caused very extensive foreign exchange movements, whereby the intervention force of Austrian monetary policy has been strongly challenged. Their task now was to control the effect of foreign exchange on domestic economic activities to stabilize the shilling in the context of constantly shifting exchange rates and to control the price rise appropriately. Since the inflow of foreign funds reached to high proportions, so that the economic stability has been compromised, the policy went the way of the independent course design in a pool of selected European currencies.
The collapse of the economy forced the policy makers to a new course with active mutual credit control, subdued wage growth, financial impulses in supply and demand, and interest rates are kept low. This system of regulation, however, kept back the need for structural change, so it had to be given up in 1979. In the same year a fire destroyed large parts of the main building of the Austrian National Bank in Vienna. The repairs lasted until 1985.
Target in the eighties was to strengthen the economic performance using a competitive power comparison. The findings from the seventies stimulated the Austrian monetary policy to align the Schilling course at the Deutsche Mark to ensure price stability in the country. In addition, the structural change was initiated by inclusion in a large area. Stable, if not necessarily comfortable environment of monetary policy was a prerequisite, to secure the companies long-term productivity gains and thus safeguard their position in the economy.
Initially, this development stood a high level of unemployment in the way. Growth until the second half of the decade increased, at the same time increased the competitiveness and current accounts could be kept in balance.
In the nineties, the annexation of Austria took place in the European Community. 1995 Austria became a member of the European Union (EU) and joined the exchange rate mechanism of the European Monetary System. In 1998, the Central Banks (ESCB) have established the independence of institutions or bodies of the European Community and the governments of the EU Member States through an amendment to the National Bank Act of the Austrian National Bank to implement the goals and tasks of the European System. Thus, the legal basis for the participation of Austria in the third stage of Economic and Monetary Union (EMU) was created in 1999.
As of 1999
The Austrian National Bank, and other national central banks including the European Central Bank ( ECB), belongs to the European System of Central Banks.
On 1 January 1999 was introduced in the third stage of Economic and Monetary Union in Austria and ten other EU Member States, the euro as a common currency. The European Central Bank is henceforth responsible for monetary and currency policy, decisions in this regard will be taken in accordance with the Council of the European Central Bank.
Since May 2010, the OeNB is in full possession of the Republic of Austria, after originally lobbies, banks and insurance companies were involved with 50 % of the share capital in it. In 2011, the National Bank Act was adapted by an amendment (Federal Law Gazette I No. 50 /2011) in this circumstance, a renewed privatization is thus excluded by law.
The OeNB as a modern central bank
With the withdrawal from the retail business in the sixties as well as the first major internationalization and implementation of a strategic management in the seventies, the OeNB went on the way to a future-oriented central bank. Another major reform of banking began at the end of the eighties.
In terms of global development, the OeNB established in 1988 as a service company and expanded its guiding values - "security, stability and trust" - to the principles of " fficiency" and "cost-consciousness". The business center was optimized and strategic business experienced through targeted improvements a reinforcement. Be mentioned as examples are intensifying domestic cooperation in the area of payments by encouraging the creation of the Society for the Study co-payments (STUZZA), the liberalization of capital movements, the professional management of foreign exchange reserves, the improvement of the supply of money through the construction of the money center and the internationalization of business activities through the establishment of representative offices in Brussels (European Union), Paris (OECD) and the financial center of New York.
After Austria's accession to the EU in 1995, the OeNB participated in the European Monetary System (EMS ) and its Exchange Rate Mechanism. The integration in the third stage of Economic and Monetary Union (EMU) was the next step towards further development of policy stability. Since the conclusion of the Maastricht Treaty, the Austrian National Bank has very fully considered its role in the ESCB and created a basis for inclusion in the community. The profound economic and monetary policy of Austria was also a reference that qualified the OeNB to actively participate in the monetary future of Europe, a greater harmonization of the statistical framework and monetary policy instruments with a view to the euro system, the preparation of the issue of European banknotes, and the establishment of operational processes and organizational integration of business processes within the ESCB being specific objectives of the OeNB.
In the following, it came, inter alia, to the establishement of an economic study department, of an education or training initiative and to strengthen the position of payment transactions through the TARGET system.
A in 1996 created "OeNB master plan" provided important points for the upcoming transition to the euro.
In May 1998, a new pension system came into force, by which new employees were incorporated into a two-pillar model.
1999, Austria's participation in the third stage of EMU was manifest. The Austrian National Bank - as part of the ESCB - became the owner of the European Central Bank and received new powers in this context in the sense of participation in the monetary policy decision-making at the level of the European Community. With the introduction of the euro, monetary policy functions of the General Council have been transferred to the Governing Council. However, the implementation remains the responsibility of national central banks.
Activities of the Oesterreichische Nationalbank were or are, for example, the further professionalization of asset management, the expansion of the network of representative offices by opening a representative office in the financial center of London, preparation of the smooth introduction of euro cash in 2002 and the participation of the OeNB on the creation of the "A-SIT" (Center for secure Information Technology Center - Austria) and the "A-Trust" (society of electronic security systems in traffic GmbH ) in order to promote security in information technology.
Another shot of the Guideline Coaches Scania Irizar PB, reg. no. FA12 ENG, in the colours of the English FA. The coach is parked outside the National Museum of Wales, Cardiff. The picture was taken on 2 November 2012.
For Our Daily Challenge topic 'Rule of Thirds' - my favorite guideline in photography. It sent me on a hunt for examples this morning and I found 5.
I think they look nicer on black - there are 4 more below.
Comfort food with a healthy twist. A bowl of steaming rice topped with fried egg is a simple but satisfying meal for me growing up. Not to mention, cheap and nutritious too. This updated version uses whole grain wild rice cooked in a shiitake mushroom broth with dices of mushroom mixed in along with chopped cilantro. Umami is good, no? The duck is fried sunny-side-up with splashes of soy sauce and sesame oil. The fragrant roasted sesame matches well with the richness of the yolk.
A rough guideline of this dish is available here.
Oesterreichische Nationalbank
Logo of the Austrian National Bank
Headquarters Vienna, Austria
Central Bank of Austria
Currency€
To ISO 4217 EUR
website
Previous Austro- Hungarian Bank
List of Central Banks
Oesterreichische Nationalbank, at Otto-Wagner -Platz No. 3, Vienna
The Austrian National Bank (OeNB), Austria's central bank as an integral part of the European System of Central Banks (ESCB) and the Eurosystem. It is instrumental in the design of the economic development in Austria and in the euro area. Legally, the OeNB is a public limited company.. However, it is also subject to further enshrined in the National Bank Act regulations resulting from its separate position as a central bank. In the framework of the Eurosystem, the OeNB contributes to a stability-oriented monetary policy. At the national level, it cares about the preservation of financial stability and the money supply and manage foreign exchange reserves to hedge against the euro in times of crisis. The guideline values in terms of the tasks of the Austrian National Bank are "security, stability and trust".
Contents
1 History
1.1 1816 to 1818
1.2 1818 to 1878
1.3 1878 to 1922
1.4 1922 to 1938
1.5 1938 to 1945
1.6 1945 to 1998
1.7 From 1999
2 The OeNB as a modern central bank
3 Legal form and organs
3.1 Legal framework
3.2 organs
3.2.1 General
3.2.2 General
3.2.3 Board of Directors
4 Tasks
4.1 Monetary policy strategies and monetary policy decision-making process
4.1.1 Economic analysis
4.1.2 Production of statistical information
4.1.3 Contribute to international organizations
4.2 Implementation of monetary policy
4.2.1 use of monetary policy instruments
4.2.2 Reserve Management
4.2.3 Money Supply
4.3 Communication of monetary policy
4.4 ensure financial stability
4.4.1 Financial Stability
4.4.2 Payment System Stability and payments
5 The OeNB in the European System of National Banks
6 President / Governors
7 See also
8 Literature
9 links
10 Notes and references
History
1816-1818
As long as 50 years before the founding of the National Bank the Habsburgs carried out first experiments with securities in the form of paper money. Finally, in the 18th Century the issue of banknotes transferred to a state independent institution, while the issue of paper money called "Banco notes," founded in 1705 by the "Vienna City Bank" took place in 1762.
In wartime governance took back control of the money issue, so there was an inflation of Banco-Zettel 1796-1810. The state ordered the forced acceptance of paper money in private transport, which led to a fast-growing discount on bills in the market. 1799 was therefore one for 100 guilders paper money only 92 guilders in silver coins, and at the end of 1810 the value of the paper florin had fallen to 15 % of the nominal value of the Banco-Zettel. Later, the Habsburgs declared a devaluation of the Banco-Zettel in the ratio of 5:1. This act was considered by the business community as a sovereign default, which the paper money experienced a rapid devaluation.
At the end of the Napoleonic wars the Habsburg multinational state ( → Habsburg Monarchy) faced a new challenge: the restoration of a European balance. Church, the nobility, the army and the bureaucracy as elements in the Ancien Régime were not sufficient to solve this problem, a well -founded economic situation was needed. Moreover, one could not ignore readily the laws of supply and demand.
In this regard, were the first June 1816 by Emperor Francis I two patents issued (later to distinguish the "main patent" or "bank patent"), the "privileged Austrian National Bank", conceived as a public company, had to constitute itself as soon a possible, propose the emperor three of its directors for selection of the governor and take up their activity provisionally on 1 July 1816.
The National Bank had henceforth a monopoly on the issuance of paper money, which led to a slowdown in the Austrian monetary system and an increase in the value of paper money. The economy was again a solid source of money keeping constant the value of money regardless of the spending plans of the State. The equity of the Bank justified this by share issues.
Initially comprised the activities of the bank - under temporary management - the redemption of paper money and the issuance of shares. The full effectiveness attained the National Bank until after the issue of 1,000 shares and the associated possibility of shareholders to set the management themselves.
1818-1878
On 15 July 1817 recieved the National Bank as the "first Bankprivilegium" the exclusive right to unrestricted issue of banknotes and in this context a special position in terms of Rediskontgeschäfts (rediscount business). Beginning of 1818 the definitive bank management was ready. Part of it were among leading figures of Viennese society, including the banker Johann Heinrich von Geymüller and Bernard of Eskeles. From 1830 to 1837 the Office of the Governor was held by Adrian Nicholas Baron Barbier.
In the countries of the Habsburg Monarchy, which were characterized in large part by an agricultural oriented activity pattern, some regions showed a lively commercial-industrial growth. The goal now was to create a system of economic exchange between these areas. Successively established the National Bank branch network and thus guaranteed a uniform money and credit supply. From its headquarters in Vienna this network extended over early industrial areas and commercial centers in Eastern and Central Europe to the northern Mediterranean.
Trade bills and coins were preferred assets of the National Bank, less the supply of money to the state. With the exchange transactions, the National Bank supported the economic growth of the monarchy and secured at the same time the supply of silver coins in the event that the need for these increases in exchange for bank notes, contrary to expectations. 1818 was the National Bank, however, by increasing public debt, due to high spending in times of crisis, not spared to make an increase in the government debt positions on the asset side of its balance sheet.
The patent provisions of the founding of the National Bank not sufficiently secured against the autonomy of governance. At the center of the struggle for independence, this was the question of the extent to which the issue of banknotes must be made on the basis of government bonds. In 1841, a renewal of Bankprivilegiums got a weakening of the independence by pushing back the influence of the shareholders in favor of the state administration. During the revolution of 1848/49 followers of constitutional goals received great support from senior figures in the National Bank. For about a hundred years, the Austrian branch of the Rothschild bank (from which from 1855, the "Royal Privileged Austrian Credit-Institute for Commerce and Industry", the later Creditanstalt, was born) was playing a leading role in the banking center of Vienna. Salomon Mayer von Rothschild was involved during the pre-March in all major transactions of the National Bank for the rehabilitation of the state budget.
Special focus the National Bank was putting on the development of the premium that was payable at the exchange of banknotes into silver money in business dealings. The increase, which corresponded to a depreciation of the notes issued by the Bank should be prevented. From an overall state perspective, the increase of the silver premium means a deterioration in terms of the exchange ratio towards foreign countries, influencing the price competitiveness of the Austrian foreign trade adversely. The stabilization of the premium were set some limits. Although the height of the emission activitiy was depending on the Bank, but also the price of silver and the potential effects of increased government debt materially affected the silver premium. Especially the 1848 revolution and conflicts in the following years caused an increasement of the silver premium.
Mid-century, the private banking and wholesale houses were no longer able to cope with the rapidly growing financial intermediation of the Habsburg monarchy. New forms of capital formation were required. From an initiative of the House of Rothschild, the first by the government approved and private joint-stock bank was created. This formation was followed in 1863 and 1864 by two other joint-stock banks, whose major shareholders included important personalities of the aristocracy, who possessed large liquid funds. Overall, grew with these banks the money creation potential of the "financial center of Vienna".
The central bank faced another difficult task: with its limited resources it had to secure sufficient liquidity on the one hand and on the other hand prevent the inflationary expansion of the money supply. Through close contacts with the shareholders of Vienna was a financial center (informal) ballot, especially in times of crisis, easily dealt out. In contrast, it gave differences of opinion in the Fed Board, which required enforcement of decisions.
In 1861, Friedrich Schey Koromla became director of the National Bank. On 27 December 1862 experienced the Bankprivilegium another innovation. The independence of the National Bank of the State was restored and anchored. Furthermore, was introduced the direct allocation of banknotes in circulation by the system of "Peel'schen Bank Act", which states that the fixed budget of 200 million guilders exceeding circulation of banknotes must be covered by silver coins. In 1866, when the German war ended in defeat for Austria, the compliance of the system was no longer met. The state felt itself forced to pay compensation for breach of privilege. This balance was supported by a law of 1872, after the National Bank may issue notes up to a maximum of 200 million guilders and each additional payment must be fully backed by gold or silver.
1873 the economic boom of the Habsburg monarchy was represented in a long-lasting rise in the share price. A now to be expecting break could by the behavior of the Vienna Stock not be intercepted, so it came to the "Great Crash of 1873". The in 1872 fixed restrictions of the circulation of notes for a short time have been suspended. Contrary to expectations, the money supply in crisis peak but only outgrew by nearly 1% the prescribed limit in the bank acts. The banks and the industrial and commercial companies survived the crash without major losses, although the share prices significantly lay below the initial level.
The years with high growth were followed by a period of stagnation.
1878-1922
As part of the compensation negotiations between Austria and Hungary in 1867, the National Bank was able to exercise fully their Privilegialrechte, the Kingdom of Hungary but now had the certified right, every ten years exercisable, to found an own central bank (bank note). As resulted from the first 10 -year period that furthermore none of the two parts of the monarchy wanted to build an independent money-issuing bank (Zettelbank), was built on 28 June 1878, initially to 31 December 1887 limited, an Austro-Hungarian Bank, and equipped with the Fed privilege. The first privilege of the new bank was a compromise in which on the one hand, regulations on liability for national debts as well as regulations limiting the influence of the government on banking businesses were included. 1878 Gustav Leonhardt was Secretary of the Bank.
The General Assembly and the General Council formed the unit of the bank management. Two directorates and major institutions - in Vienna and Budapest - represented the dual nature of the bank. 1892-1900 followed a long discussion finally the currency conversion from guilders (silver currency) to the crown (gold standard) with "Gold Crown" said coins.
Since the new banknotes were very popular in the public, now many gold coins piled up in the vaults of the Austro-Hungarian Bank. This period was characterized by a balanced combination of price growth and damping, the "per capita national product" grew while prices remained mostly stable. Against this background, it was easy for the Fed to encourage a new wave of industrialization.
With a third privilege in 1899 conditions were established under which the bank could be put into the financial services of the two countries, on the other hand there have been important innovations that paved a good exchange policy. By 1914, the exchange ratio of the Austro-Hungarian currency was unchanged with only minor fluctuations. In contrast, was the by conflicts marked political development.
The expansive foreign policy quickly led to high costs from which had to be shouldered by the central bank a significant part. The stability of the currency was in danger. Shortly after the beginning of World War I in 1914, laid down the Military Command to indemnify any seized property with double the price. There was an increasing scarcity of goods, connected with an ongoing expansion of the money supply and finally the increase in the price level on the 16-fold.
The resulting cost of the war of the Dual Monarchy were covered to 40% on central bank loans and 60% through war bonds. Over the duration of the war, the power force built up in recent decades has been frozen at the end of the conflict in 1918, the real income of the workers had fallen to one-fifth of the last year of peace.
With the end of the war the end for the old order had come, too. The decay of Cisleithania and Transleithania caused in several successor states, despite the efforts of the central bank to maintain the order, a currency separation (see Crown Currency in the decay of the monarchy, successor states). First, a separate "Austrian management" of the bank was introduced. It was encouraged to shoulder the shortcomings of the state budget of the Republic of Austria founded in 1918.
The new South Slav state began in January 1919 stamping its crown banknotes. The newly founded Czechoslovak Republic retained the crown currency (to date), but their printed banknotes in circulation as of February 1919 with indications that now these ar Czechoslovak crowns. (The country could an inflation as experienced by Austria avoide.) In March 1919, German Austria began to stamp its crown banknotes.
The Treaty of Saint-Germain-en-Laye of 10 September 1919, by Austria on 25 October 1919 ratified and which on 16 July 1920 came into force, determined the cancellation and replacement of all crown banknotes of all successor states of Austria-Hungary as well as the complete liquidation of the Austro-Hungarian Bank under the supervision of the war winners. The last meetings of the Bank took place mid 1921 and at the end of 1922.
After a period of overvaluation of the crown the dollar rate rose from 1919 again. 1921, had to be paid over 5,000 Austrian crowns per dollar. In addition to the significant drop in the external value existed in Austria rising inflation. End of 1922 was ultimately a rehabilitation program with foreign assistance - the "Geneva Protocol" - passed which slowed down the inflation.
1922-1938
With Federal Law of 24 July 1922 the Minister of Finance was commissioned to build a central bank, which had to take over the entire note circulation plus current liabilities of the Austrian management of the Austro-Hungarian Bank. With Federal Law of 14 November 1922, certain provisions of the law were amended and promulgated the statutes of the Austrian National Bank. By order of the Federal Government Seipel I 29 December 1922, the Board of the Austrian Austro-Hungarian Bank issued authorization for the central bank union activity with 1 January 1923 have been declared extinct and was made known the commencement of operations of the Oesterreichische Nationalbank this day.
The statutes of the Austrian National Bank (OeNB) secured the independence from the state, the independence of the Bank under exclusion of external influences and the corresponding equity. First, the stabilization of the Austrian currency was at the forefront. With the Schilling Act of 20 December 1924 was the schilling currency (First Republic) with 1 Introduced in March 1925, it replaced the crown currency. For 10,000 crowns now you got a shilling.
As an important personality in terms of the order of the state budget, Dr. Victor Kienböck has to be mentioned. He was in the time from 1922 to 1924 and from 1926 to 1929 finance minister of the First Republic and from 1932 to 1938 President of the Austrian National Bank. Through his work remained the Austrian Schilling, also beyound the global economy crisis, stable. Under this condition, the Fed was able to cope with the large number of bank failures of the past.
1938-1945
According to the on 13th March issued Anschlussgesetz (annexation law) , the Reichsmark with order of the Fuehrer and Chancellor of 17 was March 1938 introduced in the country Austria and determines the course: A Reichsmark is equal to one shilling fifty pence. On the same day, the Chancellor ordered that the management of the to be liquidated National Bank was transferred to the Reichsbank.
With regulation of three ministers of the German Reich of 23 April 1938, the National Bank was established as a property of the Reichsbank and its banknotes the quality as legal tender by 25 April 1938 withdrawn; public funds had Schilling banknotes until 15th of may in 1938 to accept. All the gold and foreign exchange reserves were transferred to Berlin.
The Second World War weakened the Austrian economy to a great extent, the production force after the war corresponded to only 40% of that of 1937 (see also air raids on Austria). To finance the war, the Reichsbank brought to a high degree banknotes in circulation, which only a great victory of the kingdom (Reich) actual values would have been opposable. Since prices were strictly regulated, inflation virtually could be "banned" during the war.
1945-1998
In occupied postwar Austria about 10 billion shillings by Allied military occupying powers were initially printed, which contributed to significant price increases.
With the re-establishment of the Republic of Austria by the Austrian declaration of independence of 27 April 1945, it came to the resumption of activities of the Oesterreichische Nationalbank. By the "Fed Transition Act" of July 1945 preliminary legal regulations for the operations of the Bank have been established. The restoration of the Austrian currency was their first big job. The goal was the summary of all currencies, which at the time were in circulation, and their secondment to a new Austrian currency. The "Schilling Act" of November 1945, the basis for the re-introduction of the Schilling (Second Republic) as legal tender in Austria. The next step was to reduce excess liquidity to make necessary funds for new business investment available and to make the external value of the shilling for the development of the economy competitive. First, however, less changed the inflationary situation and also the shilling was still significantly undervalued in relation to other currencies.
The "Currency Protection Act" of 1947 brought a significant change in the monetary overhang. Some deposits have been deleted without replacement, others converted into claims against the Federal Treasury. The following exchange operations also significantly reduced the amount of cash: banknotes from 1945 were canceled and exchanged for new schilling notes in the ratio 1:3. Only 150 shillings per person could go 1-1.
To control inflation, the social partners came to the foreground. The associations of employers and employees set in 1947 prices for supplies, wages were also raised. This was the first of the five "wage-price agreements" of the social partners. In 1952, inflation was held back by limiting the use of monetary policy instruments by the National Bank. Also, the external sector slowly relaxed after the end of the Korean War.
In 1955, the Austrian National Bank was re-established by the new National Bank Act as a corporation and the by the National Bank Transition of Authorities Act (Nationalbank-Überleitungsgesetz) established provisional arragement abolished. The National Bank Act stipulated that each half of the capital should be situated at the federal government and private shareholders. In addition to the independence of bank loans of the state, the new National Bank Act also contained an order that the central bank must watch within their monetary and credit policies on the economic policies of the federal government. From now on also included within the instruments of the National Bank were the areas open market and minimum reserve policy.
The Austrian economy increasingly stabilized, through good fiscal and monetary policy a high growth could be attained, with low inflation and long-term maintenance of external equilibrium.
1960, Austria joined the European Free Trade Association and participated in the European integration.
In the sixties came the international monetary system based on gold-dollar convertibility into currency fluctuations and political reforms were necessary. First, the loosening of exchange rate adjustments between several states was an option. However, U.S. balance of payments problems brought with it restrictions on capital movements, and then the Euro-Dollar market was born. In 1971, the convertibility of the U.S. dollar was lifted.
1975 interrupted a recession increasing growth time. International unbalanced ayments caused very extensive foreign exchange movements, whereby the intervention force of Austrian monetary policy has been strongly challenged. Their task now was to control the effect of foreign exchange on domestic economic activities to stabilize the shilling in the context of constantly shifting exchange rates and to control the price rise appropriately. Since the inflow of foreign funds reached to high proportions, so that the economic stability has been compromised, the policy went the way of the independent course design in a pool of selected European currencies.
The collapse of the economy forced the policy makers to a new course with active mutual credit control, subdued wage growth, financial impulses in supply and demand, and interest rates are kept low. This system of regulation, however, kept back the need for structural change, so it had to be given up in 1979. In the same year a fire destroyed large parts of the main building of the Austrian National Bank in Vienna. The repairs lasted until 1985.
Target in the eighties was to strengthen the economic performance using a competitive power comparison. The findings from the seventies stimulated the Austrian monetary policy to align the Schilling course at the Deutsche Mark to ensure price stability in the country. In addition, the structural change was initiated by inclusion in a large area. Stable, if not necessarily comfortable environment of monetary policy was a prerequisite, to secure the companies long-term productivity gains and thus safeguard their position in the economy.
Initially, this development stood a high level of unemployment in the way. Growth until the second half of the decade increased, at the same time increased the competitiveness and current accounts could be kept in balance.
In the nineties, the annexation of Austria took place in the European Community. 1995 Austria became a member of the European Union (EU) and joined the exchange rate mechanism of the European Monetary System. In 1998, the Central Banks (ESCB) have established the independence of institutions or bodies of the European Community and the governments of the EU Member States through an amendment to the National Bank Act of the Austrian National Bank to implement the goals and tasks of the European System. Thus, the legal basis for the participation of Austria in the third stage of Economic and Monetary Union (EMU) was created in 1999.
As of 1999
The Austrian National Bank, and other national central banks including the European Central Bank ( ECB), belongs to the European System of Central Banks.
On 1 January 1999 was introduced in the third stage of Economic and Monetary Union in Austria and ten other EU Member States, the euro as a common currency. The European Central Bank is henceforth responsible for monetary and currency policy, decisions in this regard will be taken in accordance with the Council of the European Central Bank.
Since May 2010, the OeNB is in full possession of the Republic of Austria, after originally lobbies, banks and insurance companies were involved with 50 % of the share capital in it. In 2011, the National Bank Act was adapted by an amendment (Federal Law Gazette I No. 50 /2011) in this circumstance, a renewed privatization is thus excluded by law.
The OeNB as a modern central bank
With the withdrawal from the retail business in the sixties as well as the first major internationalization and implementation of a strategic management in the seventies, the OeNB went on the way to a future-oriented central bank. Another major reform of banking began at the end of the eighties.
In terms of global development, the OeNB established in 1988 as a service company and expanded its guiding values - "security, stability and trust" - to the principles of " fficiency" and "cost-consciousness". The business center was optimized and strategic business experienced through targeted improvements a reinforcement. Be mentioned as examples are intensifying domestic cooperation in the area of payments by encouraging the creation of the Society for the Study co-payments (STUZZA), the liberalization of capital movements, the professional management of foreign exchange reserves, the improvement of the supply of money through the construction of the money center and the internationalization of business activities through the establishment of representative offices in Brussels (European Union), Paris (OECD) and the financial center of New York.
After Austria's accession to the EU in 1995, the OeNB participated in the European Monetary System (EMS ) and its Exchange Rate Mechanism. The integration in the third stage of Economic and Monetary Union (EMU) was the next step towards further development of policy stability. Since the conclusion of the Maastricht Treaty, the Austrian National Bank has very fully considered its role in the ESCB and created a basis for inclusion in the community. The profound economic and monetary policy of Austria was also a reference that qualified the OeNB to actively participate in the monetary future of Europe, a greater harmonization of the statistical framework and monetary policy instruments with a view to the euro system, the preparation of the issue of European banknotes, and the establishment of operational processes and organizational integration of business processes within the ESCB being specific objectives of the OeNB.
In the following, it came, inter alia, to the establishement of an economic study department, of an education or training initiative and to strengthen the position of payment transactions through the TARGET system.
A in 1996 created "OeNB master plan" provided important points for the upcoming transition to the euro.
In May 1998, a new pension system came into force, by which new employees were incorporated into a two-pillar model.
1999, Austria's participation in the third stage of EMU was manifest. The Austrian National Bank - as part of the ESCB - became the owner of the European Central Bank and received new powers in this context in the sense of participation in the monetary policy decision-making at the level of the European Community. With the introduction of the euro, monetary policy functions of the General Council have been transferred to the Governing Council. However, the implementation remains the responsibility of national central banks.
Activities of the Oesterreichische Nationalbank were or are, for example, the further professionalization of asset management, the expansion of the network of representative offices by opening a representative office in the financial center of London, preparation of the smooth introduction of euro cash in 2002 and the participation of the OeNB on the creation of the "A-SIT" (Center for secure Information Technology Center - Austria) and the "A-Trust" (society of electronic security systems in traffic GmbH ) in order to promote security in information technology.
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