National Bank of Poland
Established in 1924. Following a reform of the Polish banking system in 1989, the old monobank structure (where 80% of commercial credits to enterprises was channelled through the central bank), was transformed into a two-tier system. Nine commercial banks were created from the central bank’s previous commercial operations. In 1997 a new law – the Constitution – gave Narodowy Bank Polski formal independence from the government to control monetary policy. New tools of monetary policy
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