Foreword
Danmarks Nationalbank is the central bank of Denmark. Danmarks Nationalbank was established in 1818 and has been a self-governing institution since 1936. The legal basis for the Nationalbank's activities is the Nationalbank Act of 1936, according to which the Nationalbank's objective is to maintain a safe and secure currency system in this country, and to facilitate and regulate the traffic in money and the extension of credit. In its formulation of monetary policy the Nationalbank is independent of the Folketing (Parliament) and the Government.
The Nationalbank has 556 employees. The Management consists of the Board of Directors, the Committee of Directors and the Board of Governors. The Board of Directors and the Committee of Directors undertake organisational tasks and approve the annual accounts. The Board of Governors is responsible for the day-to-day management of the Nationalbank and for monetary-policy decisions. The Royal Bank Commissioner is the formal link between the government and the Nationalbank.
The Report and Accounts of Danmarks Nationalbank comprise a presentation and description of the bank's Accounts for the year 1999, and the Report of the Board of Governors. The Report of the Board of Governors presents recent trends in the Danish economy, the monetary and foreign-exchange policy and the development in financial markets in Denmark and abroad, together with a review of international monetary cooperation as well as some of the Nationalbank's other areas of operation and its organisation.
In the quarterly Monetary Reviews the Nationalbank publishes articles on recent trends in a number of areas – including monetary policy, statistics, banknotes and coins, Economic and Monetary Union, payment systems, etc.
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Version 1.0 April 2000 Nationalbanken.
Published by Danmarks Nationalbank April 2000, http://www.nationalbanken.dk