Magyar Nemzeti Bank

Magyar Nemzeti Bank operates as the central bank of Hungary. The bank maintains price stability; defines and implements monetary policy; and issues banknotes and coins, including commemorative banknotes and coins. It forms and manages official reserves in foreign exchange and gold; and conducts foreign exchange operations in relation to the management of foreign exchange reserves and the implementation of exchange rate policy. Magyar Nemzeti Bank also develops and regulates the domestic payment and settlement systems, and securities settlement systems; collects and publishes statistical information; and promotes the stability of the financial system. Further, it manages the single Treasury account, as well as the current accounts of the Hungarian Privatization and State Holding Company, the Government Debt Management Agency Private Company Limited by Shares, credit institutions, clearing houses, the National Deposit Insurance Fund, and the Investor Protection Fund. Magyar Nemzeti Bank was founded in 1924 and is headquartered in Budapest, Hungary.