Banque De France

The Banque de France is the Central Bank of France ; it is linked to the European Central Bank (ECB). Its main charge is to implement the interest rate policy of the European System Of Central Banks (ESCB). It is headquartered in Paris .

LINKAGE WITH THE ESCB

On June 1, 1998, a new institution was created, the European Central Bank (ECB), charged with steering the single monetary policy for the euro. The body formed by the ECB, and the national central banks (NCB) of all the member states of the European Union, constitute the European System of Central Banks (ESCB).

The ESCB is an institutional framework of a single monetary policy for the Euro . According to the Banque de France's website, the "sharing of responsibilities between the ECB and the NCBs is based upon significant decentralization of the conduct of the ESCB's single monetary policy".

HISTORY

1716 John Law opens Banque Générale

1718 Banque Generale is acquired by the government and renamed Banque Royale

1800 Creation of the Banque de France

1808 - 1936 The Bank's notes became legal tender; expansion of the branch network

1936 - 1945 Nationalization

1973 Rewriting of the Bank's statutes

1993 A landmark reform granted the Bank independence, in order to ensure price stability, regardless of domestic politics. This reform cleared the path for the European monetary union.

1998 Entered the European System of Central Banks

REFERENCES

''This timeline is based largely on the official Banque de France website (http://www.banque-france.fr/gb/banque/main.htm ).''

EXTERNAL LINK

Official website

Information About

Banque De France