Polish National Bank

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Polish National Bank

 

Poland’s center of note issue, credit, and payment, established in 1945. In accordance with its charter (1959), the bank issues banknotes and regulates the money supply and provides credit to replenish the working capital of state industrial enterprises, trade and transport enterprises, capital construction and communal services enterprises, and cooperative organizations. It also refinances other credit institutions in the country, organizes and controls monetary transactions in the national economy, supervises plan fulfillment with respect to foreign trade, and makes payments and renders accounting services under the state budget.

On Jan. 1, 1970, when the Investment Bank merged with the Polish National Bank, the latter took over the function of granting credit on capital investments in all branches of the national economy except agriculture and forestry, where these functions are performed by the Agricultural Bank. The Polish National Bank in the early 1970’s accounted for 80 percent of total short-term and long-term credits in the national economy. The bank has 17 województwo offices and 427 branches throughout the country. Its main office is in Warsaw. The bank’s balance as of Jan. 1, 1974, amounted to 846,849,000,000 zlotys. More than 90 percent of its assets were loans to the national economy, and 80 percent of its liabilities were deposits to the accounts of socialist enterprises.

I. G. MAEVSKAIA

References in periodicals archive ?
Treasury Department, Department for International Development of the United Kingdom (DFID), German Agency for International Cooperation (GIZ), Narodowy Bank Polski and the Government of Canada, as well as Technical Assistance missions that are currently working in Ukraine.
Narodowy Bank Polski left the benchmark seven-day interest rate at 4.5 percent for the sixth consecutive month.
On June 8, The Narodowy Bank Polski raised its benchmark seven-day rate by a quarter-point, to 4.5 percent, which was the fourth rise this year.
Kyiv: The First Annual Research Conference of the National Bank of Ukraine on "Transformation of Central Banking" organized in cooperation with Narodowy Bank Polski with the assistance of the Government of Canada and the Kyiv School of Economics took place in Kyiv.
Analysts expect the Narodowy Bank Polski to increase the benchmark seven-day interest rate by a quarter point, to 4.5 per cent.
Narodowy Bank Polski left its seven-day reference rate at 3.5 per cent.
Narodowy Bank Polski is expected to hold the seven-day reference rate at 3.5 per cent.
Narodowy Bank Polski left the benchmark seven-day reference rate at 3.5 per cent.
In a statement the bank said, 'The Narodowy Bank Polski's management is convinced that the situation of the Polish economy and the financial system are currently good enough that the country, instead of being among those using the IMF support, may join a group helping other countries through the IMF.'
The Narodowy Bank Polski retained the reference rate, which is the benchmark interest rate, at 3.5%.
The Narodowy Bank Polski reduced the seven-day reference rate by a quarter-point.
Narodowy Bank Polski has cut the seven-day reference rate to a two-year low of four percent, after cutting it three-quarters of a point last month.