The Oesterreichische Nationalbank (OeNB)

1816–1818 Foundation of the Bank and Temporary Measures The foundation of the central bank of Austria dates back to the early 19th century. However, the Habsburgs, the ruling dynasty in the old Austro-Hungarian Empire, had started experimenting with the issuance of paper money already 50 years before: a separate … 1818–1878 The "privilegirte oesterreichische National-Bank" The imperial patent of July 15, 1817, gave the privilegirte oesterreichische National-Bank the exclusive right to distribute banknotes unrestrictedly. Moreover, this issuing right (1. Privilegium) also gave the OeNB certain rights to conduct discount transactions. 1878–1922 The Austro-Hungarian Bank During the negotiations on the compensation between Austria and Hungary in 1867, the question of the central bank was not touched to prevent further complications and to maintain the present conditions up until an agreement on a future legal regulation was reached. … 1922–1938 The Oesterreichische Nationalbank in the First Republic Since the start of the liquidation of the Austro-Hungarian bank, it was clear that Austria, like the remaining successor states, had to have a bank of issue of its own. But first of all it was necessary to create order in the national budget. The Geneva Protocol of … 1938–1945 The Central Bank in the Third Reich After the end of World War I, it was not possible for the Austrian society to return to a coherent social order. Camps were formed in all areas, and these imposed their interests with fraud, force and arms, if necessary. The corporative state, which was isolated in … 1945–1998 The Oesterreichische Nationalbank during the Second Republic The disastrous years after World War II had taught society and politicians how important nonpartisan team work was as the basic principle of an Austria for all citizens. Nobody doubted that reconstruction was possible. With the European Recovery Programme … 1999– The Oesterreichische Nationalbank as a Part of the European System of Central Banks On January 1, 1999, the beginning of the Stage Three of Economic and Monetary Union, the euro as a single currency was introduced in Austria and ten other member states. The Oesterreichische Nationalbank transferred its responsibility in matters of monetary policy to …

Address: 48 Gracechurch Street, London EC3V 0EJ, United Kingdom

Phone: +44 20 7623 6446
FAX: +44 20 7623 6447