National Bank of Austria

The Template:Langr (Template:IPA, Template:Lit, abbr. Template:Langr) is the national central bank for Austria within the Eurosystem. It was the Austrian central bank from 1923 to 1938 and from 1945 to 1998, issuing the shilling.

It started operations on Template:Date under the economic assistance provided to Austria by the Economic and Financial Organization of the League of Nations, replacing the Austro-Hungarian Bank with its name recalling that of the Austro-Hungarian Bank's predecessor entity founded in 1816. It was liquidated following the Anschluss in March 1938, and re-established in July 1945.

The OeNB is a joint-stock corporation governed by special legislative provision. Its entire capital of €12 million has been held by the Austrian federal government since May 2010, with shareholder rights exercised by the Minister of Finance.<ref>Template:Cite web</ref> Before 2010, half of the capital was in the hands of employer and employee organizations as well as banks and insurance corporations.Template:Cn

History

File:Oesterreichische Nationalbank 1922.jpg

A quarter of a founder's share of the Oesterreichische Nationalbank, issued 22. December 1922

The Oesterreichische Nationalbank was established under the conditions of the stabilization loan coordinated by the Economic and Financial Organization of the League of Nations in 1922–23.<ref>Template:Citation</ref> The bank's statutes were drafted by the League's Financial Committee and enacted in Austrian legislation on Template:Date. The new institution started operations on Template:Date.<ref>Template:Cite web</ref> It took over the former Austrian-territory branches and operations of the Austro-Hungarian Bank, whose liquidation had been implemented in accordance with the Treaty of Saint-Germain-en-Laye signed on Template:Date, and whose Governing Council last met on Template:Date.<ref>Template:Cite web</ref>

Following the banking crisis of 1931, Austrian National Bank President Viktor Kienböck oversaw an orthodox economic policy paradigm in which he rigorously defended the currency in the face of growing overvaluation. This contributed to a substantial contraction in Austrian GDP.<ref>Template:Citation</ref>

Following the Anschluss in 1938, the Austrian National Bank's was liquidated, and its shareholders were forced to accept German government bonds in exchange for their shares.<ref name=HandbookAT>Template:Citation</ref>Template:Rp Most of its assets and liabilities, including gold reserves, were taken over by the Reichsbank; Karl Blessing, by then a junior Reichsbank official and future President of the Deutsche Bundesbank, directed the restructuring.<ref name=LeBor>Template:Cite book</ref>Template:Rp The former Austrian National Bank became the Reichsbank's Vienna branch, and the Reichsmark became Austria's currency by German decree of Template:Date. The former National Bank's gold holdings and foreign currency reserves were moved to Berlin.<ref>Template:Cite web</ref>

The Oesterreichische Nationalbank was re-established by the Central Bank Transition Act of Template:Date of the Second Austrian Republic. The Austrian schilling came back to replace the Reichsmark on Template:Date. Much of the head office building served as headquarters of the American occupation forces in Austria from 1945 to 1951.<ref>Template:Cite web</ref>

Tasks and composition

The main tasks of the OeNB center on contributing to a stability-oriented monetary policy within the Eurozone, safeguarding financial stability in Austria and supplying the general public and the business community in Austria with high-quality, i.e. counterfeit-proof, cash. In addition, the OeNB manages reserve assets, i.e. gold and foreign exchange holdings, with a view to backing the euro in times of crisis, draws up economic analyses, compiles statistical data, is active in international organizations and is responsible for payment systems oversight. Furthermore, the OeNB operates a payment system for the euro, promotes knowledge and understanding among the general public and decision makers owing to its comprehensive communication policy, and supports research in Austria.

Governing Board<ref>Template:Cite web</ref>

Name	Function
Martin Kocher	Governor
Gottfried Haber	Vice Governor
Eduard Schock	Executive Director
Thomas Steiner	Executive Director

Presidents/Governors

Name	Term
Template:Ill	1922–1932
Template:Ill	1932–1938
Eugen Kaniak	1945
Template:Ill	1945–1952
Template:Ill	1952–1960
Template:Ill	1960–1967
Template:Ill	1968–1973
Hans Kloss	1973–1978
Template:Ill	1978–1988
Template:Ill	1988–1990
Maria Schaumayer	1990–1995
Template:Ill	President 1995–1998, Governor from 1998 to September 2008
Template:Ill	Director 1988–1998, President 1998–2003
Template:Ill	President 2003–2008
Claus Raidl	President September 2008 – August 2018<ref name="orf2451919"/>
Ewald Nowotny	Governor September 2008 – August 2019<ref>Neue Nationalbank-Führung fix. Template:Webarchive Bei: derstandard.at.</ref>
Template:Ill	President since 1 September 2018<ref name="orf2451919">orf.at: Neubesetzungen im Aufsichtsratsgremium Template:Webarchive. 22 August 2018, accessed 22 August 2018.</ref>
Robert Holzmann<ref name="OTS_20190130_OTS0064">Ministerrat nominiert neues OeNB-Direktorium Template:Webarchive. Bundesministerium für Finanzen, 30 January 2019.</ref>	Governor from 1 September 2019<ref>Salzburger Nachrichten: Robert Holzmann als neuer Nationalbank-Gouverneur fixiert Template:Webarchive. 29 January 2019, accessed 2 February 2019.</ref> – August 2025
Martin Kocher	Governor since 1 September 2025<ref>Template:Cite web</ref>

See also

• Economy of Austria
• Austrian schilling
• List of central banks

External links

• Oesterreichische Nationalbank Template:In lang
• Template:PM20