====== Complex Financial Products ======

<data !technology>
Image [image]          : rules:tech-unknown.png
Description [wiki]     : Enables the establishment of a Banking Corporation to create credits, and through it the saving of money
Research Cost          : 500
Research Time          : 4
Prerequisites [rule]*  : 
Forum [forum]          : 1318
Tags*                  : Economy
</data>

//By careful construction of debt and credit packages, it becomes possible to invest large volumes of taxes. Through a specialized tertiary sector of industry such complex financial products gain a level of stability that can not be attained with taxes.//

This technology enables the establishment of a Banking Corporation. A Banking Corporation is a type of [[rules:corporations|corporation]] that specializes [[rules:Open Market Zone|Open Market Zones]]. The production of a specialised Open Market Zone is doubled. An Open Market Zone specialized by a Banking Corporation can no longer support fleets, and no longer generates (:open-market-trade). Instead, the production of a specialized Open Market Zone can be used to convert (:tax) into [[Credits]] and Credits into (:tax) in a one-for-one ratio. Both conversions consume the production of the zone.

Each corporation creates its own kind of credits. The Credits produced by the corporation are specific to that corporation, and can only be converted by that corporation. For example, the Xyzzy Banking Corporation has a zone with a production of 120, so you can convert 70(:tax) into 70 Xyzzy Credits, leaving 50 production; or you could convert 70 Xyzzy Credits into 70(:tax), with 50 production to spare. You could even convert 70(:tax) into 70 Xyzzy Credits, and use the other 50 for converting 50 Xyzzy Credits into 50(:tax).

Credits can be traded just like (:tax), and do not require trade capacity of any form. Unlike (:tax), Credits can be saved and will not be wasted if you do not spend them at the end of the (:turn).

Unlike normal corporations, Open Market Zones specialised by a Banking Corporation always generate +10(:tax) for the corporation, regardless of where they are.

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OOC Note: If you start researching this technology, have a look at {([forum]:1318#11711)} for details on getting your own icon.
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