Established in 1993 on the formation of the Czech Republic, the Czech National Bank (CNB) has its roots in the long established central bank of Czechoslovakia. As the central bank of the new Republic, the CNB provides all clearing and settlement services for the 50 or so banks licensed to operate in the country.
The Czech National Bank is the central bank of the Czech Republic and the supervisor of the Czech financial market. In accordance with its primary objective, the CNB sets monetary policy, issues banknotes and coins and manages 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 and electronic money institutions, as well as foreign exchange supervision.