Zygriv Bank

The Zygriv Bank was a privately owned multinational Bank originating in the New Roman Republic, that was forcibly shut down by the Roman Senate Financial Committee in YEAR HERE (is AUGUST 2018 to late???) after a complex confidence/arbitrage scheme was uncovered. The CEO of Zygriv, Iacobus Decimus Makomaka, and the Board of Directors were found to be the primary benefactors of the arbitrage scheme. In addition, Zygriv's large market share in the international currency flow gave them too much power over the value of several currencies

Multinational Reach

Recognition of Non-National Currencies

Several Private institutions across the region had begun to develop and trade their own currencies, entirely outside of the control of the relevant Nations. The NRR was a hive of this behaviour, due to their lax Corporate Regulations & even more lax enforcement. Senator Michael Norman Osborne, owner of the Osborne GC, was a key member of the Senate Financial Committee while simultaneously developing the Osborne Pound, his own private currency. Thanks to the very corporate financial legislation Osborne and other senators passed, the Osborne Pound (OSBP)was effectively unregulated within the NRR, and became an immensely valuable.

Buyer-Independent Forex

Compared to more traditional financial institutions, Zygriv operated their forex services on an unlinked method (DEF NOT A REAL WORD). Traditional Forex Methods treated Currency as a barter commodity, limiting the quantity of any single currency available for sale & purchase to realistic numbers based on the total trading volume over a relatively short time period. This would also then naturally create market-driven exchange rates, based on demand and supply of each individual currency. Zyrgiv, on the other hand, aimed to have large currency reserves that could be instantly traded with buyers & sellers of various currencies. They also used a proprietary, complex algorithm to determine relative value, based on real-world output, gdp (for national currencies), stock price (for some private currencies). All total values & transferable values were calculated in Zygriv Stables (ZYST), a value-locked currency with a floating total reserve, equivalent to the total currency multiplied by their "Standard Value", giving them a ZYST value, and allowing for relative comparison between currencies. Zygriv would only list currencies in which they held 10% equity, or 500,000 Stables, whichever was a smaller value. They would set their own exchange rates based on predictions of future trading volumes, effectively acting more as speculators than as a simple Exchange. The comparatively huge nature of Zygriv created a unique and uncomfortable tension between the best interests of currency holders, Zygriv, and the primary owners and/or operators of the currency (both Private and National). In order for the value of Zygriv's currency holdings to increase, they needed to sell currencies at a rate that benefitted Zygriv's future holdings. For Example, if they could predict that the value of Monopoly Dollars ($MND) would fall from 2 ZYST to 1.5 ZYST, while the demand-value of Rennian Krens (RNKR) would rise from 0.57 ZYST to 0.8 ZYST, Zygriv would offload $MND and begin increasing their stock of RNKR

By the time of the Makomaka Scandal, Zyrgiv recognized and traded 34 National Currencies and an estimated 12,500 Private, Non-National Currencies. Each were Identified using a unique 4 Letter Code.

Makomaka Scandal and Closure

In YEAR, Makomaka was informed by one of Zygriv's programmers that a potential route for arbitrage had been discovered. Given the large number of currencies supported for forex by Zyrgiv, the discovery of a small flaw was inevitable. By converting Lucy Dollars ($LUC) to Ethan Bucks ($ETN), both of which were relatively small private currencies, then converting to

The closure of the Zygriv Bank was a large contributor to the Financial Collapse of the NRR (and consequently to the collapse of the entire NRR), as the Zygriv Bank's control over the NRR's currency caused it to literally be more of a Federal Reserve bank than the actual New Roman Federal Reserve.