Bank of Greece

Detailed Description

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; and provides liquidity and accepts deposits from domestic credit institutions. The company also supervises credit and various financial institutions, securities and investment firms, 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 provides payment and securities settlement infrastructures; oversee payment systems and means of payment, and clearing systems; and coordination with various parties in financial markets, as well as operates electronic secondary securities market; and issues foreign exchange rates and maintains an archive of historical rates. The company also 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 releases monetary and credit statistics; compiles the country's balance of payments and financial accounts; and collects and publishes data on the Greek economy. It manages foreign exchange and foreign reserve assets; acts as treasurer and fiscal agent of the government; and involved in the prevention of money laundering and resolution of credit institutions, as well as conducts economic research and analysis in the areas of monetary policy, and monetary and credit developments; activity, prices, labour, and real estate markets; econometric forecasting; public finance; external economic transactions and the balance of payments; economic developments in South-Eastern European and Mediterranean countries; and the banking system and the capital markets. The company operates through a network of 17 branches, 32 agencies, and 2 outlets. The company was founded in 1927 and is headquartered in Athens, Greece.