Bank of Greece

Summary

Bank of Greece operates as the central bank of Greece. It participates in the formulation and implementation of monetary policy in the euro area as a member of the Eurosystem; provides liquidity and accepts deposits from domestic credit institutions; supervises credit and various financial institutions, insurance and reinsurance undertakings, and insurance distributors, as well as financial institutions under liquidation; and operates as a national resolution authority for the credit and financial institutions. It also provides payment and securities settlement infrastructures; oversees payment systems and means of payment and clearing systems; coordinates with various parties in financial markets; operates electronic secondary securities market; and issues foreign exchange rates and maintains an archive of historical rates. In addition, the company sells and purchases gold sovereigns, bars, coins, and ingots; issues banknotes and coins, and daily price bulletins for gold and gold coins; collects, compiles, and publishes data on monetary and credit, balance of payments and international investment position, national financial accounts, and loan-by-loan credit data; and monitors and assesses developments in the financial systems, adopts measures to reduce the build-up of systemic risk, and enhance the resilience of the financial systems. Further, it prints euro banknotes, euro coins, collector and commemorative coins, securities of the Greek State, and other security documents; acts as treasurer and fiscal agent for the Greek government; executes domestic and cross-border payment orders on behalf of the Greek government; manages the collective investment portfolio of social security organizations and legal entities; and provides custody and depository services to Greek government. The company operates through a network of 15 branches, 32 agencies, and 4 outlets. The company was founded in 1927 and is headquartered in Athens, Greece.