Czech National Bank
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| Czech National Bank | |
| |
| Founded | 1993 |
|---|---|
| Headquarters | Prague, Czech Republic |
| Key People | Zdenek Tuma, Governor Ludek Niedermayer, Vice Governor Miroslav Singer, Vice Governor Mojmir Hampl, Chief Executive Director Robert Holman, Chief Executive Director Pavel Rezabek, Chief Executive Director Vladimir Tomsik, Chief Executive Director |
| Web site | http://www.cnb.cz |
The Czech National Bank (CNB) [1] is responsible for supervision of the financial market in the Czech Republic.
Contents |
Organization and Purpose
The primary objective of the CNB is to maintain price stability. The CNB sets monetary policy, issues banknotes and coins and manages the circulation of currency, the payment system and settlements 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. The CNB is a member of the Committee of European Securities Regulators. Pavel Hollmann serves as CNB's representative on the Committee.
History
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Financial market supervision was integrated into the mandate of the Czech National Bank on April 1, 2006 when the CNB took over the work of the Czech Securities Commission, the Ministry of Finance's Office for Supervision of Insurance and Supplementary Pension Insurance and the Office for Supervision of Credit Unions.
