About the CNB

The CNB is the central bank of the Czech Republic, the supervisor of the Czech financial market and the Czech resolution authority. It is established under the Constitution of the Czech Republic and carries out its activities in compliance with Act No. 6/1993 Coll., on the Czech National Bank, as amended (pdf, 278 kB) and other regulations. It is a legal entity under public law having its registered address in Prague. The CNB performs its activities through its headquarters in Prague and regional offices in Ústí nad Labem, Plzeň, České Budějovice, Hradec Králové, Brno and Ostrava. It manages its assets, including the international reserves, with due diligence. Interventions in its activities are only permissible on the basis of a law. The CNB is a part of the European System of Central Banks and contributes to the fulfilment of its objectives and tasks. It is also a part of the European System of Financial Supervision and cooperates with the European Systemic Risk Board and with European Supervisory Authorities.

The supreme governing body of the CNB is the Bank Board, consisting of the CNB Governor, two Deputy Governors and four other Bank Board members. All Bank Board members are appointed by the President of the Czech Republic for a maximum of two six-year terms.

Under Article 98 of the Constitution of the Czech Republic and in line with EU primary law, the primary objective of the CNB is to maintain price stability. Achieving and maintaining price stability, i.e. creating a low-inflation environment in the economy, is the central bank’s ongoing contribution to the creation of conditions for sustainable economic growth. Central bank independence is a prerequisite for effective monetary instruments conducive to price stability. In addition, the CNB fosters financial stability and sees to the sound operation of the financial system in the Czech Republic. To this end, the CNB sets macroprudential policy by identifying risks jeopardising the stability of the financial system and contributing to its resilience. Without prejudice to its primary objective, the CNB also supports the general economic policies of the Government and the general economic policies in the European Union.

In accordance with its primary objective, the CNB sets monetary policy. It also issues banknotes and coins and manages and oversees the circulation of currency, the payment system and settlement between banks. It also performs supervision of the banking sector, the capital market, the insurance industry, pension funds, credit unions, electronic money institutions and bureaux de change. In order to undertake its tasks, the CNB processes and generates statistical information. As a central bank the CNB provides banking services to the state and the public sector. It maintains the accounts of persons and organisations connected to the state budget. By agreement with the Ministry of Finance pursuant to the budgetary rules, the CNB conducts transactions relating to government bond issues and financial market investments.