Oesterreichische Nationalbank

The Oesterreichische Nationalbank (OeNB) is the central bank of Austria and, as such, an integral part of both the European System of Central Banks (ESCB) and the Eurozone. It started operations on 1 January 1923, replacing the Austro-Hungarian Bank of which it adopted the original name at its creation in 1816 (German: privilegirte oesterreichische National-Bank). In the public interest, the Oesterreichische Nationalbank contributes to monetary and economic policy decision-making in Austria and in the Euro area. In line with the Federal Act on the Oesterreichische Nationalbank, the OeNB is a stock corporation. Given its status as a central bank, it is, however, governed by a number of special provisions, as laid down in the Nationalbank Act. The OeNB's capital totals €12 million and is held by a sole shareholder, the federal government. The shareholder rights of the federal government are exercised by the Minister of Finance.[2] Since May 2010, this capital is entirely held by the Austrian state. Previously half of the capital was in the hands of employer and employee organizations as well as banks and insurance corporations. Until 1999 and 2002, the national central bank was responsible for issuing the first old original classic former national Austrian currency, the Austrian schilling. Its functions, responsibilities, duties, and powers were taken over by the European Central Bank (ECB) when it became part of it when it adopted the Euro Currency on 1 January, 1999 digitally and on 1 January, 2002 physically.

Oesterreichische Nationalbank
Established1 January 1923; 100 years ago (1923-01-01)
Ownership100% state ownership[1]
GovernorRobert Holzmann
Central bank ofAustria
EUR (ISO 4217)
Reserves9 620 million USD[1]
Preceded byOesterreichisch-ungarische Bank
Succeeded byEuropean Central Bank (1999)1
1 The Oesterreichische Nationalbank still exists but many functions have been taken over by the ECB.

Share this article:

This article uses material from the Wikipedia article Oesterreichische Nationalbank, and is written by contributors. Text is available under a CC BY-SA 4.0 International License; additional terms may apply. Images, videos and audio are available under their respective licenses.