How much are Central Bank balance sheets per capita (or per person in a country)?

This is not government debt, this is simply Central Bank balance sheet per capita (for every person in that country), and the numbers are staggering …

United States – Federal Reserve

The Federal Reserve “System” is the central bank of the United States consisting of the Federal Reserve Board of Governors, 12 Federal Reserve Banks (which operate independently but with central supervision) and the Federal Open Market Committee. The Federal Reserve was established in 1913.

In 2020, mainly due to COVID-19 (however things began turning in July 2019), the Federal Reserve balance sheet has soared and leads Central Bank balance sheet growth in the world in 2020 so far.

On a per capita basis, the Federal Reserve balance sheet per capita stands at $21,725.

Statistics:

Balance Sheet per capita (USD): $21,725

Balance Sheet (USD): $7.17 trillion

As of date: June 10, 2020

% growth in 2020 till date above: 71.76%

Current Interest Rate: 0% to 0.25% (the target is a range rather than a single number)

 

United Kingdom – Bank of England

Established in 1694 with the current mission of promoting the good of the people of the United Kingdom by maintaining monetary and financial stability, the Bank of England is one of the oldest Central Banks (the oldest is Sweden’s Sveriges Riksbank established in 1668).

With Brexit and then COVID-19 uncertainties, the Bank of England Balance Sheet has soared in 2020.

On a per capita basis, the Bank of England balance sheet per capita stands at £11,898 ($14,920).

Statistics:

Balance Sheet per capita (GBP): £11,898

Balance Sheet per capita (USD): $14,920

Balance Sheet (GBP): £785.23 billion

Balance Sheet (USD): $974.78 billion

As of date: June 10, 2020

% growth in 2020 till date above: 30.41%

Current Interest Rate: 0.1% (lowest on record)

 

Euro Area (or Eurozone) – European Central Bank

One of the newest central banks, having been established in 1998, the European Central Bank (ECB) manages the euro currency and frames and implements European Union (EU) economic & monetary policy. The ECB is a member of the zero-interest rate club since 2016.

On a per capita basis, the European Central Bank sheet per capita stands at €16,634 ($18,692).

Statistics:

Balance Sheet per capita (EUR): €16,634

Balance Sheet per capita (USD): $18,692

Balance Sheet (EUR): €5.66 trillion

Balance Sheet (USD): $6.34 trillion

As of date: June 5, 2020

% growth in 2020 till date above: 21.02%

Current Interest Rate: 0% (lowest on record)

 

Japan – Bank of Japan

Established in 1882, the Bank of Japan’s current objective is to issue banknotes and to carry out currency and “monetary control”. And well, it does by not just buying and owning bonds but also equities (via ETFs) and Real estate investment trusts (REITs). The balance sheet of the Bank of Japan was the largest in the world until 2019 but then COVID-19 came along, and other central banks grew their balance sheets at a much quicker rate. The Bank joined the negative interest rate club in 2016.

Related: The Bank of Japan now owns about 32.25 trillion Yen ($302 billion) or 85% of all Japanese Index-Linked Exchange-Traded Funds

On a per capita basis, the Bank of Japan sheet per capita stands at ¥5.15 million ($47,968).

Statistics:

Balance Sheet per capita (JPY): ¥5.15 million

Balance Sheet per capita (USD): $47,968

Balance Sheet (JPY): ¥638.6 trillion

Balance Sheet (USD): $5.98 trillion

As of date: May 31, 2020

% growth in 2020 till date above: 10.26%

Current Interest Rate: -0.1% (lowest on record)

 

Switzerland – Swiss National Bank

Founder member of the negative central bank interest rate club since 2014, the Swiss National Bank (SNB) is a very different type of Central Bank. The Swiss National Bank conducts the country’s monetary policy as an independent central bank and is constituted as a special statute joint-stock company. The SNB share is listed in the Domestic Standard segment of the Swiss stock exchange and resembles long-term bonds rather than shares (as the dividend is limited to 6% of the share capital by law).

The SNB makes investments to generate returns, and currently holds about $94 billion worth of U.S. equities including a close to $5 billion stake in Apple.

On a per capita basis, the Swiss National Bank balance sheet per capita stands at CHF 105,920 ($111,555).

Statistics:

Balance Sheet per capita (CHF): CHF 105,920

Balance Sheet per capita (USD): $111,555

Balance Sheet (CHF): CHF 903.49 billion

Balance Sheet (USD): $1.01 trillion

As of date: April 30, 2020

% growth in 2020 till date above: 4.94%

Current Interest Rate: -0.75% (lowest on record, founder member of the Central Bank negative interest rate club)

 

 

How do they compare?

Table below:

Central Banks Balance Sheet per person per capita June 2020

 

Related: Here’s how big the balance sheets of the Federal Reserve, the Bank of England, the European Central Bank, the Bank of Japan and the Swiss National Bank are (June 2020 edition); Plus how much they have grown so far in 2020 in response to COVID-19

 

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