National Bank of Poland (Central Bank of Poland)

By: EconomyWatch   Date: 9 September 2010

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The National Bank of Poland (Narodowy Bank Polski in Polish) is the central bank of Poland. The Bank is responsible for controlling the issue of Polish currency, the zloty. The bank is a member of the European System of Central Banks and represents Poland on international economic platforms.

The Constitution of Poland and the National Bank of Poland Act, 1997, regulate the structure and the functions of the national bank. The President of the National Bank of Poland is appointed by the country’s parliament Sejm on the recommendation of the President of the Republic of Poland. The bank’s president is responsible for the organization and functioning of the National Bank. The president also leads the Monetary Policy Council. As the central bank of the country, the primary objective of the National Bank of Poland is to maintain price stability in the country. To realize this objective the bank performs following functions:

  • Formulate and implement the monetary policy with a view to maintain price stability in the country
  • Act as the sole authority to issue the national currency and control its circulation

 

  • Supervising the activities of the commercial banks and exercising regulatory powers over non-banking financial institutions
  • Holding and managing the foreign exchange reserves of the country and ensuring its proper circulation
  • Determining the exchange rate policy on behalf of the Government of Poland
  • Acting as a banker and financial advisor to the government
  • Acting as the lender of the last resort for the purpose of maintaining financial liquidity of the Polish Government

The Address and Contact details of the bank is as follows:

National Bank of Poland

Address: P.O. Box 1011 PL-00919 Warzawa POLAND Phone No.: ++48-22-653 10 00 Fax: ++48-22-620 85 18


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