Oesterreichische Nationalbank

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The Oesterreichische Nationalbank 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 1 January 1923 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. Before 2010, half of the capital was in the hands of employer and employee organizations as well as banks and insurance corporations. Read more

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