The Bank of Amsterdam or Wisselbank was an early bank, vouched for by the city of Amsterdam, and established in 1609. It was the first public bank to offer accounts not directly convertible to coin. As such, it has been described as the first true central bank, even though that view is not uniformly shared. The Amsterdam Wisselbank was also active in the production of coins. For decades the assay master of the Bank sent out stocks of gold and silver to the various Mints in the United Netherlands to receive new coins in return.
The old town hall in Amsterdam with the Wisselbank to the right of the tower. Painting by Pieter Saenredam
Dam square and town hall in 1656 with the Wisselbank in the lower left by Johannes Lingelbach
Portrait of the assayer Hans van Hogendorp, by Thomas de Keyser (1636).
Detail of 16-pound silver bar, probably from the mines of Potosi
A central bank, reserve bank, national bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Many central banks also have supervisory or regulatory powers to ensure the stability of commercial banks in their jurisdiction, to prevent bank runs, and in some cases also to enforce policies on financial consumer protection and against bank fraud, money laundering, or terrorism financing.
Walter Bagehot, influential 19th-century theorist of the economic role of central banks
Interior of the Llotja de Barcelona where the city's Taula de canvi was operated
The Bank of England in 1791
The Bank of Finland in Helsinki