The Central Bank of Greece is called the Bank of Greece. Its head quarter is in Athens. It is established in 1927. It is preceded by National Bank of Greece (1928) and succeeded by European Central Bank (2001). The Bank of Greece is still exists but most of the functions are performed by the ECB.The bank has 18 branches, 38 agencies and 8 outlets. The responsibilities of this bank are to implement the Euro system’s monitory policy and also safe its own country financial system. In other primary objectives the stability of general price level. It also supports the general policy of the government. It has institutional, personal and operational independency. It is under the super vision of Greece Parliament. The Bank of Greece has more than 3000 employees. It also supervises the other all private banks in all over the country. The other function of it is to act as the treasurer and fiscal agent for the GreekÂ government. Its Euro Banknote code is Y. Bank of Greece also sellsÂ Gold sovereigns. Bank of Greece Division of tasks is as follows:
Monetary policy Foreign exchange and reserve assets Payment and settlement systems Financial stability Statistics Banknotes and coins
Supervision Payment and securities settlement system Reserve assets Treasurer and fiscal agent of the government Statistics Research and publications
There are governor and deputy governors who manage all the functions of the bank.
Georgios A. Provopoulos is the governor of the bank with effect from June 20, 2008 who manages the bank operation with the following deputy governors. The Governor is the chief officer of the bank and is appointed by the government. He supervises monitory policy.
Panagiotis Aristidis Thomopoulos and Nikolaos D. Paleocrassas are the deputy governor of the Central Bank of Greece. The deputy governor is the second in line officer of the bank. Main role of the deputy governor is administration. Eleni Dendrinou-Louri: June 15, 2008 – present. Ioannis M. Papadakis: March 3, 2009 – present. 160px-2003_Greece_200_Euro_75_anniversary_of_Bank_of_Greece_back
Organisation Chart for Bank of Greece
These are the second type of financial institutions in the Greece Economy. Likes the commercial banks they are the deposit institutions in both commercial and industrial sector. They perform lending operations. They recently expand their working area to provide banking services at a wide range of whole sellers and retailers. They give loans in different types like: Commercial Industrial Consumers Mortgage credit The different functions which are performed by these banks: Issuance of credit cards Travelers checks Buy and sell foreign exchange Issuance of letter of credit They directly engage in securities underwriting. They also give foreign securities, own mutual funds and brokerage services through their subsidiaries. The commercial banks which are operating in Greek, they include both domestic and foreign institutions.
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