National Bank of Slovakia
| Headquarters | Bratislava , Slovakia |
| founding | January 1, 1993 |
| president | Jozef Makúch |
| country | the Slovakia |
| currency | |
| ISO 4217 | EUR |
| Website | |
| successor |
European Central Bank (since January 1, 2009) |
| List of central banks | |
The National Bank of Slovakia ( Slovak Národná banka Slovenska , abbreviation NBS) is the central bank of Slovakia with its seat in Bratislava . It has been part of the European System of Central Banks since January 1, 2009 .
Emergence
After the division of Czechoslovakia , the National Bank of Slovakia was founded on January 1, 1993 by a law as an independent central bank, which defined its legal status, functions and tasks. The main tasks and objectives of the National Bank were price stability , monetary and credit policy, the issue of banknotes and coins, control and coordination of the circulation of money, payments between banks and monitoring of the development of the banking sector and the performance of banking transactions.
tasks
Based on an authorization from the government, the bank represents Slovakia in international credit institutions and in international money market negotiations relating to monetary and credit policy. The supreme body of the National Bank is the governor; most recently since January 12, 2010 Jozef Makúch . Vice-governors are Helena Kohútiková , Martin Barto and Viliam Ostrožlík . The Slovak National Bank has three branches and six departments.
Financial market supervision
history
Originally, the first concentrated institution of this type was the Office for Financial Market Supervision as a state administration institution with the task of supervising the capital market and insurance (Act No. 329/2000 Coll.). The Office for Financial Market Supervision consisted of the head of the authority and the District Council (5 members). Both bodies were appointed by the government, with the head of the authority being the legally responsible body and the district council acting as the appeal body.
Until December 31, 2005, the Slovak National Bank was only responsible for banking supervision (see below).
Act No. 96/2002 Coll. On the Office for Financial Market Supervision, among other things, repealed Act 329/2000 Coll. And significantly changed the organizational structure of the authority. A supervisory committee was set up as a further control body, the members of which were also appointed by the government. The supervisory committee was primarily responsible for monitoring the financial affairs of the Office for Financial Market Supervision. The head of the agency became the general director.
Current status
In order to better protect the financial market in Slovakia, the financial center participants and to improve legal enforcement, the tasks of the Slovak National Bank have been bundled.
With Act 747/2004 Coll., The Office for Financial Market Supervision was dissolved on January 1, 2006 (Section 45) and integrated into the Slovak National Bank, and the previous tasks of the Office for Financial Market Supervision were taken over by the Slovak National Bank ( all-round financial supervision ). The Financial Market Supervision Section was created within the framework of the Slovak National Bank with the following tasks (banking supervision, insurance supervision, capital market supervision, supervision of pension schemes):
- "On-site" supervision,
- "Off-site" supervision,
- First instance in financial supervisory proceedings
- Regulator
Procedure
The supervisory procedure of the Financial Market Supervision Section of the Slovak National Bank is a special administrative procedure. The general administrative procedure is not applicable. The Financial Market Supervision Section is responsible in the first instance, unless otherwise stipulated in the law. The procedure, even if an oral hearing is held, is not public. The decision of the first instance is made as a notification .
An appeal ( appeal ) can be made against a decision of the first instance , provided this is provided for in the law ( appeal period: 15 calendar days from delivery). The appeal has no suspensive effect, unless this is expressly provided for in the law. The appeal must be addressed to the Financial Market Supervision Section of the Slovak National Bank. The latter can decide on the appeal itself if it fully allows the appellant, otherwise the Council of the Slovak National Bank decides in the second instance. There is no further appeal against the decision of the Council of the National Bank of Slovakia, unless the law expressly allows review by the ordinary courts (the Supreme Court of Slovakia).
Web links
- National Bank of Slovakia (only Slovak and English)