`  # Again, most Fed member banks are required to join. They have no choice. They get paid a fixed 6% on their share capital (a tiny fraction of the profits). This is seen as compensation for reserve deposits (on which they are paid no interest). # Fixed that sentence in the article. No, I do not find the resource reliable, primarily because what is represented as a court decision that says ``X`` says no such thing. # KPMG. See . Lots of information on their website. # EU is owned by national central banks of Euro area. So yes, not owned by a specific state directly. In this context, ``state-owned`` is a term used to refer to government-owned. (Hong Kong is formally not a state, but does have a separate central bank). ::I disagree completely with your synopsis. The question of who ``owns`` the money supply does not make sense. It would probably be a lot more instructive to consult the sites of the central banks or other reputable sources. ::Governments can completely control their central banks and money supply; they frequently choose not to control them directly. Governments do not pay interest to central banks, central banks remit interest earned on currency issued. (Or, if you prefer, governments pay interest to central banks but then get that interest back). Bank issues currency to me; bank buys govt bonds with the money I paid; I get no interest; central bank does; at end of year, govt gets the interest it paid to central bank back. Since the value of the currency I hold has (probably) fallen in value, government has made money from seigniorage.  `