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 Headquarters of the National Bank of Poland in Warsaw | |
| Headquarters | Warsaw, Poland |
|---|---|
| Established | 1945 |
| Ownership | 100%state ownership[1] |
| President | Adam Glapiński |
| Central bank of | Poland |
| Currency | Polish złoty (zł) PLN (ISO 4217) |
| Reserves | $162.7 billion (May 2021)[2] |
| Preceded by | Bank of Issue in Poland |
| Website | nbp.pl/en(in Polish and English) |
TheNarodowy Bank Polski (pronounced[narɔdɔvɨbankpɔlski]; theNational Bank of Poland), often abbreviated toNBP, is thecentral bank ofPoland, founded in 1945. It controls the issuing of Poland's currency, thePolish złoty. The bank is headquartered inWarsaw, and has branches in 16 major Polish cities. The NBP represents Poland in theEuropean System of Central Banks, anEU organization. The bank doesn't translate its name to English but uses its Polish nameNarodowy Bank Polski in all its English communications.
The NBP is also a member of theEuropean Systemic Risk Board (ESRB).[3]
Although the bank has existed under its current name since 1945,[4] it claims the legacy of two previous central banks, both named Bank of Poland (Polish:Bank Polski). TheFirst Bank of Poland was founded in Warsaw in 1828 by PrinceFranciszek Ksawery Drucki-Lubecki under the government of theKingdom of Poland. TheSecond Bank of Poland, founded in 1924, was the central bank of theSecond Polish Republic.
During theSecond World War the gold reserves of Poland were transferred toRomania,Great Britain andCanada. In November 1946, following the cancellation of Poland's wartime debt, the larger part of prewar gold reserves were returned to newcommunist authorities. In 1947, the gold deposited in Romania in 1939 was returned, while the formerBank of Poland itself was closed down and finally in 1952 absorbed by the newly created Narodowy Bank Polski.
The latter was one of two banks allowed to operate in Poland's postwarplanned economy. It had a monopoly for currency, credits and accumulation of savings. The other bank,PKO Bank Polski, was responsible for private accounts. After the fall of the communist system in 1989, themarket economy was reintroduced and the NBP limited its functions to currency control and supervision of other, privately controlled banks.
The structure and functioning of the Narodowy Bank Polski are regulated by article 227[5] of theConstitution of Poland of 1997 and the Narodowy Bank Polski Act[6] of the same year.[7] The president of the NBP is appointed by theSejm, at the request of thepresident of the Republic of Poland, for a term of six years. The NBP president is responsible for the organisation and functioning of the Polish's central bank. The same person cannot serve as president of the NBP for more than two terms of office. Apart from his function as the superior of the NBP staff, he is also the chairman of the Monetary Policy Council, the NBP management board and the Commission for Banking Supervision. He is also responsible for representing Poland in international banking and financial institutions.
In 2019, the average employment at the National Bank of Poland on full-time amounts was 3312 people.[8]
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52°14′11″N21°00′53″E / 52.23639°N 21.01472°E /52.23639; 21.01472
