Narodowy Bank Polski
| Headquarters | Warsaw , Poland |
| founding | 1924/1945 |
| president | Adam Glapiński |
| country | Poland |
| currency | |
| ISO 4217 | PLN |
| Currency reserves | US $ 114.3 billion (2016) |
| Website | |
| predecessor |
Polski Bank |
| List of central banks | |
The National Bank of Poland ( NBP , German National Bank ) is the central bank of Poland, based in Warsaw . It is a member of the European System of Central Banks .
structure
president
At the head of Narodowy Bank Polski is the President ( Prezes ). This is appointed for a period of six years by the Sejm at the request of the President . From January 10, 2007 until his accidental death on April 10, 2010, Sławomir Skrzypek was President of the Authority. Marek Belka was elected as his successor on June 10, 2010 . Adam Glapiński has been the President since June 21, 2016 .
Monetary Policy Council
The President is part of the Monetary Policy Council ( Rada Polityki Pieniężnej ), which has nine other members. The members of the council are determined equally by the President, the Sejm and the Senate . The council takes the monetary policy decisions of the central bank.
Board of Directors
The business is run by the Administrative Board ( Zarząd ). The main task of the administrative board is to implement the monetary policy guidelines of the council.
Regional branches
The central bank has several branches outside Warsaw to carry out its tasks, such as ensuring the supply of money in the voivodships . These are located in Białystok , Wroclaw , Bydgoszcz , Gdansk , Katowice , Krakow , Kielce , Lublin , Łódź , Olsztyn , Opole , Poznan , Rzeszów , Szczecin and Zielona Góra .
history
Polski Bank
The establishment of today's central bank goes back to the establishment of Bank Polski, the establishment of which was planned as early as 1918 at the beginning of the restoration of Poland after the partition . The bank's statutes were adopted on January 20, 1924. The bank had the sole right to issue banknotes . It was headed by a five-person body, and the bank was chaired by Stanisław Karpiński . In order to ensure the independence of the bank, the bank was founded as a stock corporation whose capital was put by 176,000 shareholders via a forced loan . 36% of the capital came from industry, 25% from civil servants, 14% from banks, 10% from commercial enterprises and 8% from large landowners. The bank began its work on April 28, 1924 with the implementation of a currency reform . The previous Polish mark , which was burdened by hyperinflation , was replaced by the złoty as part of the economic stabilization plan by Władysław Grabski , which included a financial, banking and currency reform . In fact, the independence did not exist. Due to the poor economic situation and the increase in national debt, the government prompted the bank to issue more banknotes and inflation occurred again, albeit with a 15% increase per year .
With the attack on Poland and the Soviet occupation of eastern Poland , the bank's work in Poland ended. It continued to exist in exile in England until 1952.
Narodowy Bank Polski
In 1945, after the end of the Second World War, the Narodowy Bank Polski was founded as a state bank under Soviet influence. It was subordinate to the Polish Ministry of Finance ( Ministerstwo Skarbu ). Originally, the bank was only intended as a bank for the banks and should not have any direct business relationships with companies. However, this requirement was given up just one year after the bank was (re) established. The bank's tasks have been continuously expanded. In 1952, she liquidated Bank Polski while in exile in Britain. The bank PKO BP was also taken over in 1975 and the Narodowy Bank Polski developed into a banking monopoly in the People's Republic of Poland . In the 1980s, the abandonment of the monopoly and the concentration on the tasks of the central bank began. During the 1980s, the zloty experienced high rates of inflation .
With the political turnaround and the market economy reforms in 1990, thanks to the strict monetary policy of the Polish National Bank, inflation rates fell continuously.
With the currency change on January 1, 1995, the zloty was revalued to a factor of 1: 10,000.
References
See also
Web links
- Narodowy Bank Polski website (Polish, English)
Footnotes
- ^ Poland Foreign Exchange Reserves . tradingeconomics.com. Accessed January 30, 2017 (English)
- ↑ Słownik procedur parlamentarnych , Kancelaria Sejmu, ISBN 83-909381-0-3 , p. 398
- ↑ Włodziemierz Borodziej, History of Poland in the 20th Century , Munich 2010, ISBN 978-3-406-60648-9 , p. 139.
- ↑ Law v. January 11, 1924 "O naprawie skarbu państwa i reformie walutowej" ( Law on Improving State Finances and Currency Reform )
- ↑ The Ministry is not to be equated with today's Ministry of State Assets , since it performed the tasks of a finance ministry.
Coordinates: 52 ° 14 ′ 10.6 ″ N , 21 ° 0 ′ 52.7 ″ E