Bank of Greece

The Bank of Greece is the national central bank of Greece and a member of the Eurosystem, which comprises the central banks of the euro area countries and the European Central Bank. Its primary function is to formulate and implement monetary policy for Greece in line with the Eurosystem's objectives of price stability. The institution is responsible for issuing euro banknotes and coins that circulate within the country and ensuring their authenticity and quality. It also oversees the smooth operation of payment systems and contributes to the stability of the financial sector through macroprudential surveillance. In addition, the Bank of Greece manages the country's foreign exchange reserves and acts as the fiscal agent for the Greek government.

As part of the Eurosystem, the Bank of Greece participates in the collective decision‑making process on monetary policy for the euro area, contributing to the formulation of interest rates and other policy instruments. It provides banking services to other financial institutions, including the provision of liquidity through open market operations. The bank also collects and analyses statistical data on the Greek economy, which supports both national and euro‑wide economic assessments. Its operational reach extends to the domestic financial market while its policy influence is exercised within the broader euro‑area framework.

The Bank of Greece holds a special regulatory role as the competent authority for the supervision of credit institutions operating in Greece, ensuring compliance with prudential standards and contributing to the safety and soundness of the banking sector. It is tasked with maintaining financial stability by monitoring systemic risks and implementing macroprudential measures when necessary. The institution also promotes the efficiency and integrity of the payment and settlement systems, overseeing the functioning of domestic and cross‑border transactions. These responsibilities distinguish it from commercial banks and position it as a key pillar of Greece’s financial infrastructure.

The Bank of Greece is a public institution wholly owned by the Greek state and does not have a private parent or subsidiary structure. Its governance is defined by national law and the statutes of the European System of Central Banks, ensuring accountability to both the Greek government and the Eurosystem.