Central Bank of San Marino

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Central Bank of San Marino Banca Centrale della Repubblica di San Marino(Italian)
Headquarters	San Marino
Established	2005
President	Antonio Valentini
Central bank of	San Marino
Website	www.bcsm.sm
Preceded by	Istituto di Credito Sammarinese Ispettorato per il Credito e le Valute
Succeeded by	European Central Bank ¹
¹ The Central Bank of San Marino still exists but many functions have been taken over by the ECB . However, the bank is not part of the Eurosystem or the European System of Central Banks.

The Central Bank of San Marino, (Italian "Banca Centrale della Repubblica di San Marino"), is the central bank of San Marino.

The bank was created in 2005 . It has been superseded de facto by the European Central Bank . However, it is not member of the European System of Central Banks or the Eurosystem as San Marino is not considered part of the eurozone, but a third country that has decided to adopt the euro (a situation similar to Montenegro).

The purposes of the BCSM are established in the 3rd article of the national law № 96 of the 29th June 2005:

promote the stability of the financial system and watch credit flows.
provide financial services to the state and public institutions in order to coordinate available cash flow and other financial sources
provide a sustainable financial system for San Marino.
Simplify economic activities by maintaining a payment system for the republic that is efficient and secure.

Owing to a special agreement with the European Commission (on behalf of Italy), San Marino may issue a limited amount of euro coins every year, although Italy mints them in practice.

The BCSM, unlike many other central banks, is also the financial regulatory authority covering banking, financial and insurance services in San Marino.

[edit] See also

[edit] External links

(Italian) (English) Official site: Central Bank of San Marino
(Italian) National law nº 95 on the stablishment and purposes of the central bank

Central banks

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