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The history of central banking in Poland

The history of central banking in Poland. by Karolina Słowińska kl. IV teh. Banking. study of the banking company and its environment. It deals with, among others, issues related to the functioning of the banking system and banking products, the bank risk management.

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The history of central banking in Poland

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  1. Thehistory of central banking in Poland by Karolina Słowińskakl. IV teh

  2. Banking study of the banking company and its environment. It deals with, among others, issues related to the functioning of the banking system and banking products, the bank risk management. also, the accounting department - the science of financial transactions included in the activity of banks (bank accounts).

  3. However, already in December 1918 it was announced that the Bank of Poland would be established in the future. The new issuing bank was to be named after the institution that managed monetary and economic matters after 1828, during the short-lived autonomy of the Kingdom of Poland.

  4. On January 20 the statute of the Bank of Poland was passed and the bank was granted the sole right to issue notes. The activities of the Bank were organised by a five-person committee chaired by the future President StanisławKarpiński. • According to contemporary models, the central bank was established as a private joint stock company, which was supposed to ensure its independence. The shares of the Bank were held by 176,000 shareholders. The State Treasury held only 1% of stock.

  5. In January 1924, the Parliament passed a reform of the currency, which helped to overcome the disaster of hyperinflation and the associated chaos in the economy. In April 1924 afterthe inflation destroyed the brand, came into circulation Polish zloty, the predecessor of our present monetary unit. ThecurrentlycreatedPolish Bank (the predecessor of the Polish National Bank) was in charge of this action. Co-founder of‘Bank Polski SA’(Polish Bank SA) was Władysław Grabski.

  6. National Polish Bank started its operation in 1945, replacing the then-Polish Joint Stock Company Bank. Originally operated as a state bank under the supervision of the Secretary of the Treasury. Until the end of the 80s it was a general banking business: a monopoly not only in the issue of money, but also the provision of credit and collection of savings. During the political transformation regional and commercial banks were separated from it, and the NBP (National Polish Bank) only dealt with the issue of money and the monetary policy of the state (monetary function).

  7. Banks separated from the NBP Powszechna Kasa Oszczędności (CommonSavings Bank) (ob. Powszechna Kasa Oszczędności Bank Polski) – 1987 Państwowy Bank Kredytowy (National Loan Bank)in Warszawa (PBK, później Powszechny Bank Kredytowy, ob. Bank BPH) – 1989 Bank Przemysłowo-Handlowy in Kraków (Industrial-Trade Bank) (BPH, ob. Bank BPH) – 1989 Bank Śląski in Katowice (Silesian Bank) (BŚ, ob. ING Bank Śląski) – 1989 Wielkopolski Bank Kredytowy in PoznańLoan Bank inPoznan) (WBK, ob. Bank Zachodni WBK) – 1989 Pomorski Bank Kredytowy in Szczecin (Loan Bank intheseasidedistrict) (ob. Bank Polska Kasa Opieki) – 1989

  8. Banks separated from the NBP Bank Depozytowo-Kredytowy in Lublin (Deposit- Loan Bank) (ob. Bank Polska Kasa Opieki) – 1989 Powszechny Bank Gospodarczy in Łódź (CommonEconomy Bank)(PBG, ob. Bank Polska Kasa Opieki) – 1989 Bank Gdański S.A. (Bank inGdansk)(BG, ob. Bank Millennium) – 1989 Bank Zachodni in Wrocław (Western Bank) (BZ, ob. Bank Zachodni WBK) – 1989 Polski Bank Inwestycyjny(Polish Investment Bank)(PBI, później Kredyt Bank, ob. Bank Zachodni WBK) – 1993

  9. In 1995 a redenomination of the zloty was performed.

  10. Important changes occurred after 1997. The new Constitution gave Narodowy Bank Polski (National Polish Bank) a strong position among public institutions and gave monetary policy the responsibility of a new NBP body - the Monetary Policy Council. Supervision of the banks was entrusted to the Commission for Banking Supervision, and the General Inspectorate of Banking Supervision, an organisationally autonomous body within the structure of the NBP, was made the executive body in this regard. Thus, looking after the zloty and guarding the stability of the financial system became the primary objectives of the Polish central bank.

  11. Presidents of the NBP after 1989 Zdzisław Pakuła 13.07.1988–11.09.1989 Władysław Baka 12.09.1989–24.01.1991 Grzegorz Wójtowicz 25.01.1991–31.08.1991 Andrzej Topiński 10.08.1991–4.03.1992 Hanna Gronkiewicz-Waltz 5.03.1992-31.12.2000 Leszek Balcerowicz 10.01.2001–10.01.2007 Sławomir Skrzypek 10.01.2007–†10.04.2010 Piotr Wiesiołek 10.04.2010–10.06.2010 Marek Belka from 11.06.2010

  12. Theend

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