Czech National Bank

Czech National Bank
Czech National Bank
Česká národní banka (Czech)
Czech National Bank (ČNB) headquarters in Prague. View of the main entrance.
Czech National Bank (ČNB) headquarters in Prague. View of the main entrance.
Headquarters Prague, Czech Republic
Coordinates 50°05′13″N 14°25′42″E / 50.08694°N 14.42833°E / 50.08694; 14.42833
Established January 1993, after the dissolution of Czechoslovakia
Governor Miroslav Singer
Central bank of Czech Republic
Currency Czech koruna
ISO 4217 Code CZK
Website www.cnb.cz/en/
Preceded by Czechoslovak National Bank (ČSNB), 1919–1993
View of the rear Entrance of the Czech National Bank headquarters in Prague

The Czech National Bank (Czech: Česká národní banka, ČNB) is the central bank and financial market supervisor in the Czech Republic with its headquarters in Prague. The Bank's governor is Miroslav Singer. In accordance with its primary objective, the ČNB sets monetary policy, issues banknotes and coins and manages the circulation of currency, the payment system and settlement between banks. It also performs supervision of the banking sector, the capital market, the insurance industry, pension funds, credit unions and electronic money institutions, as well as foreign exchange supervision.

Contents

Mission

Primary objective of ČNB as stated in the Act on ČNB is price stability. Secondary objective is to support a sustainable economic growth. Currently in employs inflation targeting monetary transmission mechanism. The goal is to stabilize inflation around 3.0% per annum.

Board members

  • Miroslav Singer (Governor)
  • Mojmír Hampl (Vice-Governor)
  • Vladimír Tomšík (Vice-Governor)
  • Robert Holman
  • Kamil Janáček
  • Lubomír Lízal
  • Eva Zamrazilová

Monetary policy instruments

Banks can deposit excess liquidity overnight with ČNB at the discount rate and can borrow overnight funds at the lombard rate. Thus these two rates create a corridor for the short-term money market rates. Moreover ČNB conducts open market operations in the form of repurchase agreements (REPOs). The basic duration is 2 weeks. Currently ČNB is absorbing excess liquidity. The aim of these operations is to influence the short-term rates which subsequently affects the economic activity, flow of capital and inflation.

See also

External links

Coordinates: 50°05′13″N 14°25′42″E / 50.08694°N 14.42833°E / 50.08694; 14.42833



Wikimedia Foundation. 2010.

Игры ⚽ Поможем написать реферат

Look at other dictionaries:

  • National Bank of Romania — Banca Naţională a României (Romanian) …   Wikipedia

  • National Bank of Slovakia — Národná banka Slovenska (Slovak) …   Wikipedia

  • National Bank of Latvia — (Latvian: Latvijas Banka) …   Wikipedia

  • National Bank of Belgium — Nationale Bank van België (Dutch) Banque nationale de Belgique (French) Belgische Nationalbank (German) …   Wikipedia

  • National Bank of Poland — Narodowy Bank Polski (Polish) …   Wikipedia

  • National Bank of Austria — National Bank of Austria …   Wikipedia

  • National Bank of Moldova — Banca Naţională a Moldovei (Romanian) Headquarters Chişinău Established 1991 Governor Dorin Drăguţanu Central bank of Moldova Currency Moldovan leu …   Wikipedia

  • National Bank of Ukraine — Національний банк України National Bank of Ukraine building …   Wikipedia

  • National Bank of Ethiopia — የኢትዮጵያ ብሔራዊ ባንክ Headquarters Addis Ababa, Ethiopia Established February 15, 1906 Chairman Newaye Christos Gebreab Central bank of Ethiopia Currency Ethiopian birr …   Wikipedia

  • National Bank of Kazakhstan — Қазақстан Ұлттық Банкі Headquarters Almaty Established April 13, 1993 (1993 April 13) Governor Grigori Marchenko Central bank of Kazakhstan Currency …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”