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Croatian National Bank |
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Croatian
National Bank
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The Croatian
National Bank (Croatian: Hrvatska narodna banka, HNB; formerly Narodna banka
Hrvatske, NBH) is the central bank of the Republic of Croatia. |
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The National
Bank was established by the Constitution of Croatia which was passed by the
Croatian Parliament on 21 December 1990. It is governed by the Law on
the Croatian National Bank and the Parliament, and headed by the Governor of
the bank. The status, tasks, objectives and capital ownership of the central
bank, its powers, organisation and relations with the bodies of the Republic
of Croatia, banks and international institutions and organisations are
regulated by the Act on the Croatian National Bank.
The HNB's
main responsibilities are maintaining stability of the national currency,
the kuna, as well as ensuring general financial liquidity within the
country. HNB also issues banknotes and holds the national monetary reserves.
The Croatian
National Bank has the following tasks:
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 to define
and implement the monetary and foreign exchange policies;
to hold and
manage the foreign reserves of the Republic of Croatia;
to issue
banknotes and coins;
to issue and
withdraw authorisations and approvals in accordance with the laws governing
the operations of credit institutions, credit unions, payment institutions,
payment transaction settlement systems, foreign exchange operations and the
operation of authorised foreign exchange offices;
to exercise
supervision and oversight in accordance with the laws governing the
operation of credit institutions, credit unions, payment institutions and
payment transaction settlement systems;
to keep
credit institutions' accounts and execute payment transactions across these
accounts, grant loans to credit institutions and accept deposits from credit
institutions;
to regulate
and improve the payment system;
to perform
operations on behalf of the Republic of Croatia, as provided by law;
to adopt
subordinate legislation on the operations within its competence; and
to perform
other activities, as provided by law.
A new Act on the Croatian National Bank, in force since July 2008, further
aligns the legal framework for the operation of the Croatian central bank
with legal standards of the EU, especially with regard to the degree of
independence of the central bank (institutional, functional, personal and
financial independence) and the objective of the Croatian National Bank, and
sets forth the conditions for the smooth functioning of the CNB within the
ESCB and the ECB and for the introduction of the euro as the official
currency of the Republic of Croatia.
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Croatian
National Bank |
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HQ
Address: |
Trg hrvatskih velikana 3
10002 Zagreb
Republic of Croatia |
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Telephone: |
+385 1 45 64 555 |
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Facsimile: |
+385 1 46 10 551 |
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Website: |
www.hnb.hr |
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Swift Code: |
NBHRHR2X |
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Currency: |
Kuna |
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Banking Hours: |
Monday -
Thursday : 9.00 am - 5:00 pm
Friday : 9.00 am - 2:00 pm |
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The CNB Act, which incorporates the remarks
of the European Central Bank and the European Commission, also takes into
account the anticipated changes in other national legislation, for example
by introducing the terms "credit institution", "payment transaction
settlement system", etc., within the scope required for its purposes, and
contains other necessary adjustments pursuant to the Statute of the ESCB and
the ECB and secondary legislation of the EU (regulations, recommendations,
guidelines, etc.).
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