National Bank of Serbia
The National Bank of Serbia is the central bank of Serbia.
History
The National Bank of Serbia succeeds several institutions, all based in Belgrade, mirroring the complex history of Serbia throughout the 20th centuries. The first of these was established in 1884 as the Privileged National Bank of the Kingdom of Serbia. In 2003 Bank succeeded its immediate predecessor, the National Bank of Yugoslavia.Missions
The responsibilities of the bank include monetary policy, the monopoly on issuance of Serbian banknotes and coins, the protection of price stability, and the promotion of stability of the financial system within Serbia.The National Bank of Serbia is independent and autonomous in carrying out its tasks laid down by the law, and is accountable for its work to the National Assembly of Serbia. The primary objective of the National Bank of Serbia is to achieve and maintain price stability. Without prejudice to its primary objective, it also contributes to maintaining and strengthening of the stability of the financial system.
The National Bank of Serbia:
- determines and implements the monetary and foreign exchange policies
- manages foreign exchange reserves
- determines and implements, within its scope of authority, the activities and measures aimed at maintaining and strengthening the stability of the financial system
- issues banknotes and coins and manages cash circulation
- regulates, controls and promotes smooth performance of domestic and cross-border payment transactions, in accordance with law
- issues and revokes operating licenses, carries out prudential supervision of bank operations and performs other activities in accordance with the law governing banks
- performs other tasks within its scope of authority, in accordance with law