Marek Sestak

Czech National Bank

Czech National Bank is the central bank of the Czech Republic and the supervisor of the Czech financial market. The primary objective of the CNB is to maintain 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.