BankHeadOffice.com         Bank Head Office Worldwide   ♦ Loan Calculators ♦ Mortgage Guides ♦ Banking FAQs ♦ Banking Institutions ♦ Central Banks Worldwide       Home  »  Central Banks Worldwide  »  Central Bank of the Dominican Republic Central Bank of the Dominican Republic The Central Bank of the Dominican Republic (Spanish: Banco Central de la República Dominicana, BCRD) was established by the Monetary and Banking Law of 1947 as the central bank of the Dominican Republic, responsible for regulating the country's monetary and banking system.   The primary role of Central Bank is to promote and maintain favorable monetary, foreign exchange and credit conditions for the stability and development of the national economy. The central bank's functions include regulating market liquidity levels by: determining deposit reserve requirements for banks; implementing lending limits when necessary; and issuing negotiable securities. Additional functions include controlling movements of the exchange rate and introducing resolutions pertaining to the financial system. The core tasks of BCRD are briefly discussed as follows: 1. To execute the monetary and exchange policies, in accordance with the Monetary Program approved by the Monetary Board and exclusively by the use of the instruments established within the Monetary and Financial Law. 2. To issue bills and coins. 3. To compile and elaborate the statistics of the payment balance, the monetary, real and financial sector and others that may be necessary to fulfill its functions. 4. To efficiently manage the country’s international reserve, in order to preserve its security, to ensure a suitable liquidity and at the same time establish its efficient profitability. 5. To manage the Contingency Fund established by the Monetary and Financial Law, as well as the Bank Consolidation Fund established by the Systemic Risk Law. 6. The supervision and final liquidation of the payment systems as well as of the interbank market. 7. To propose regulatory projects to the Monetary Board related to the monetary, foreign exchange, and financial spheres. Central Bank of Dominican Republic HQ Address: Calle Pedro Henríquez Ureña esq. Leopoldo Navarro Santo Domingo Dominican Republic Telephone: +809 221 9111 Facsimile: N/A Website: www.bancentral.gov.do Email: info@bancentral.gov.do Currency: Dominican peso Banking Hours: Monday - Friday : 8.00am - 4.00pm   8. To undertake a comprehensive analysis of the Dominican financial system, estimating its level of systemic risk, and designing and proposing the regulatory measures to be derived from this analysis and estimate. 9. To impose penalties for deficiency complying with the mandatory bank reserve, breach of the operative norms of the payment systems or other sanctions established within the Monetary and Financial Law. 10. To offset any inflationary tendency. 11. To regulate the national financial system by the established guarantees and limitations. 12. To promote the liquidity and solvency of the Nation’s banking system. 13. To create the conditions to maintain the external value and convertibility of the Nation’s currency. 14. To undertake foreign exchange operations in accordance with applicable laws and/or the resolutions issued by the Monetary Board to such effect. 15. To undertake other functions as may be ascribed according to the Law.   DISCLAIMER The content comes from Internet, reasonable efforts are made to maintain accuracy of information published. However, information could contain errors or inaccuracies and is presented without warranty and statutory means. No liability is assumed for errors or omissions. Viewers are advised to consult their banker or financial consultant for complete information and their professional advise. All trademarks, logos, brand names and copyrights are the property of their respective owners. © 2011 - 2022 BankHeadOffice.com ® All Rights Reserved