Established 1927 Website Official website Headquarters Athens | Governor Yannis Stournaras Central bank of Greece President Yannis Stournaras | |
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Succeeded by European Central Bank (2001) Founded December 1927, Athens, Greece Preceded by National Bank of Greece (1928) | ||
The national bank of greece
The Bank of Greece (Greek: Τράπεζα της Ελλάδος Trapeza tis Elladas, abbreviated ΤτΕ) is the central bank of Greece. Its headquarters is located in Athens on Panepistimiou Street, but it also has several branches across the country. It was founded in 1927 and its operations started officially in 1928. The building that houses it headquarters until this day was completed ten years later, in 1938.
Contents
- The national bank of greece
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- Introduction
- Governor
- List of Governors of the Bank of Greece
- Deputy Governors
- References
The Bank of Greece is listed on the Athens Exchange.
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Introduction
The Bank of Greece, a member of the European System of Central Banks (ESCB), is the national central bank of Greece and was established by Law 3424/7 December 1927. The shares of the Bank of Greece are registered and have been listed on the Athens Exchange since 12 June 1930.
It is a partially state owned S.A. share company with special privileges, with special restrictions and duties. It cannot operate as a commercial bank and the percentage of shares that can be under Greek state ownership cannot exceed 35% (initially this limit was 10%). It has a staff of more than 3,000 employees.
The primary objective of the Bank of Greece is to ensure price stability in Greece. It also supervises the private banks and acts as a treasurer and fiscal agent for the Greek government. After law 3867/2010 was passed, the Bank of Greece is also responsible for supervising private insurance companies, merging in the Committee for the Supervision of Insurance Companies established by law 3229/2004.
Its Euro banknotes printer identification code is Y.
Bank of Greece also sells gold sovereigns.
Governor
The chief officer of the Bank of Greece is the Governor (Greek: διοικητής, IPA: [ðiiciˈtis]), a governmental appointee.
List of Governors of the Bank of Greece
a During the Axis occupation of Greece (1941–44), Governor Kyriakos Varvaresos followed the Greek government in exile to London. The collaborationist governments in Greece fired Varvaresos in 1941 and appointed first Miltiadis Negrepontis as Governing Counsellor (April 24, 1941 – July 3, 1941) and then Dimitrios Santis (July 3, 1941 – January 20, 1943) and Theodoros Tourkovasilis (April 19, 1943 – April 13, 1944) as Governors. Nevertheless, after the liberation, all dismissals and appointments by occupation-era governments concerning members of the administration of the Bank of Greece were declared null and void.
Deputy Governors
The deputy governor (Greek: υποδιοικητής, ypodioikētés) is the Bank's second-in-line officer. Traditionally, the Deputy Governors' main remit is administration, whereas Governors supervise monetary policy at large.
(*): During the Axis occupation of Greece (1941–44), Deputy Governor Georgios Mantzavinos followed the Greek government in exile to London. The collaborationist governments in Greece fired Mantzavinos in 1941 and appointed Andreas Papadimitriou (July 3, 1941 – November 18, 1941) and Spyridon Hatzikyriakos (April 5, 1943 – October 5, 1944) as Deputy Governors. Nevertheless, after the liberation, all dismissals and appointments by occupation-era governments concerning members of the administration of the Bank of Greece were declared null and void.