National Bank of Slovakia

National Bank of Slovakia (Slovak: Národná banka Slovenska, NBS), is the central bank of Slovakia, a member state of the European Union since 2004 and of the eurozone since 2009. It was formed on 1 January 1993 from the division of the State Bank of Czechoslovakia as part of the process of dissolution of Czechoslovakia, together with the Czech National Bank. In addition to its headquarters in Bratislava, the National Bank has 5 regional offices.[2] Until January 2009, when Slovakia adopted the euro, the bank was responsible for former national currency, the Slovak koruna.

National Bank of Slovakia
Národná banka Slovenska



Headquarters in Bratislava
HeadquartersBratislava
Coordinates48.153333°N 17.115°E / 48.153333; 17.115
Established1 January 1993 (1993-01-01)
Ownership100% state ownership[1]
GovernorPeter Kažimír
Central bank ofSlovakia
Reserves1 190 million USD[1]
Preceded byState Bank of Czechoslovakia, 1950–1992
Succeeded byEuropean Central Bank (2009)1
Websitewww.nbs.sk
1Národná banka Slovenska still exists but many functions have been taken over by the ECB.

The National Bank is an independent institution, whose main goal is to hold price stability. On the basis of authority bestowed upon the bank by the Slovak Government, the Bank represents Slovakia in international financial institutions and in international money market transactions related to monetary policy performance. As of late 2022, the governor of the National Bank was Peter Kažimír, who took up the post on 1 June 2019.[3]

Organization

Governing bodies

The supreme governing body of the National Bank of Slovakia is the Bank Board, which formulates monetary policy, applies appropriate instruments, and rules on monetary measures. It is composed of the Governor and a Vice-Governor, and other three members. [4] Since the introduction of euro in 2009, the Governor of the NBS has been an ex-officio member of the Governing Council of the European Central Bank

Appointment

The Governor and a Vice-Governor are appointed and can be under certain circumstances dismissed by the President of Slovakia at the proposal of the Government and subject to the approval of the Slovak Parliament. The remaining three members are appointed and dismissed by the Slovak government following the proposal of the Governor. The term of appointment for bank board members is six years (five years before 1 January 2015). The number of subsequent terms is not limited for board members, but the Governor and Deputy Governor are allowed to serve only for two terms.[4]

Governors

Headquarters

The headquarters of the National Bank of Slovakia was opened on 23 May 2002 in Bratislava. At a height of 111.6 metres and with 33 floors, it was the highest non-antenna building in Bratislava until 2020, when it was surpassed by Nivy Tower.

See also

References
  1. Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
  2. "NBS Organizational structure: - www.nbs.sk". www.nbs.sk.
  3. Slovak Spectator (13 March 2019), Kažimír appointed as new governor of Slovakia's central bank Slovak Spectator.
  4. "NBS Bank Board: - www.nbs.sk". www.nbs.sk.
  5. "Former NBS Governors and Bank Board members: - www.nbs.sk". www.nbs.sk.
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