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.
Headquarters	Prague, Czech Republic
Coordinates	50°05′13″N 14°25′42″E / 50.08694°N 14.42833°E
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

• 1 Mission
• 2 Board members
• 3 Monetary policy instruments
• 4 See also
• 5 External links

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

• Economy of the Czech Republic
• Czech koruna

External links

• (Czech) (English) Czech National Bank official site
• (English) Czech National Bank building on Prague-wiki

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Policies and implementation Policies Capital requirement · Contractionary monetary policy · Expansionary monetary policy Implementation Capital control · Discount rate · Interest rates · Money creation · Open market operations · Sovereign wealth fund
Bretton Woods system International Monetary Fund · World Bank Group (International Bank for Reconstruction and Development · International Centre for Settlement of Investment Disputes · International Development Association · International Finance Corporation · Multilateral Investment Guarantee Agency)
Lists List of central banks · Central banks and currencies of Africa · Central banks and currencies of the Caribbean · Central banks and currencies of Central America and South America
Names in italics indicate non-sovereign (dependent) territories, former countries, or states with limited recognition

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Banking-related EU institutions	European Central Bank · European System of Central Banks · European Investment Bank
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Coordinates: 50°05′13″N 14°25′42″E / 50.08694°N 14.42833°E

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