Terran-Saran Bank

Terran-Saran Bank

One of the official federal licenced banks to issue UCU. The bank is a semu private entity, but it is very closely monitored by both the Union Finance and Commerce council and the Assembly. All business recordsmre public record and can be accessed by any Union Citizen. An annual business report is delivered to the Assembly. This report is also part of the documents all union citizens receive. The bank stores the equivalent of all UCU issued by the bank in form of Iridium, Polonium, Germanium, Paladium for the Union. The Trade unit exchange standard usually does not involve the circulation of physical trade units. The main feature of the trade units exchange standard is that the government guarantees a fixed exchange rate to the currency of societies  that uses the trade units standard, regardless of what type of notes or coins are used as a means of exchange. This creates a de facto gold standard, where the value of the means of exchange has a fixed external value in terms of trade units that is independent of the inherent value of the means of exchange itself. There are five metals that are re deemed universally useful and thus valuable tomsoace faring society. (Up to TL 11)

The Terran Saran Bank is a an amalgam of the former United Earth World Bank and the Saran Treasury of the Empire. The board of the bank is still traditionally Saran, Terran but has now also other Union species in management positions. The TS bank is the largest Federal bank and also the oldest. It is headquatered on Sara planet. Current presieent is Samuel Lowenstin. Trade units at hand: 400 Centillion Business branch valuated at 43 Quadrillion