Bank of Greece

The Bank of Greece is Greece's national central bank within the Eurosystem, established by a law passed on 7 December 1927 and formally founded on May 14, 1928 under arrangements coordinated by the League of Nations. Headquartered in Athens, it lost its monetary-policy powers to the European Central Bank when Greece adopted the euro in 2001 but continues to supervise the country's private banks and insurance companies, act as the Greek government's treasurer and fiscal agent, and sit on European Union supervisory bodies including the European Banking Authority. Unusually for a modern central bank it retains private shareholders whose stock trades on the Athens Exchange, with the Greek state's own holding capped by law at 35 percent.