The Croatian National Bank is the central bank of the Republic of Croatia and an integral part of the Eurosystem and the European System of Central Banks. The main objective of the CNB is to maintain price stability, with the CNB also taking into account the stability of the financial system as a whole.
As of 1 January 2023, the Croatian National Bank is part of the Eurosystem and participates in the definition and implementation of the common monetary policy of the European Union. Furthermore, the CNB manages international reserves and the financial assets of the CNB, issues and withdraws authorisations and approvals and adopts other decisions in accordance with the laws governing the operation of credit institutions and credit unions, payment service providers, electronic money issuers and payment systems, payment operations, the issuance of electronic money and foreign exchange operations and the operation of authorised exchange offices. The CNB exercises supervision and oversight of credit institutions and the operation of credit unions, payment service providers, electronic money issuers and payment systems, payment operations and the issuance of electronic money. The CNB exercises supervision and resolution of credit institutions within the Single Supervisory Mechanism and the Single Resolution Mechanism.
In addition, the CNB opens accounts and receives funds of credit institutions, carries out payment operations in these accounts and grants loans to credit institutions, collects and processes statistical data and regulates and improves payment operations, ensuring their smooth functioning. For the Republic of Croatia, the CNB carries out the activities of a fiscal agent and other activities laid down by law. In addition, the CNB adopts subordinate legislation for activities within its competence, implements macroprudential policy in order to contribute to the preservation of the stability of the financial system as a whole and performs other activities laid down in other regulations. Finally, the CNB may issue euro banknotes within the limits of the ECB's approval and in accordance with the provisions of the Statute of the ESCB and of the ECB and the provisions of the Treaty on the Functioning of the European Union. The CNB may also issue euro coins subject to approval by the ECB of the volume of issue. In achieving its objective and carrying out its tasks, the CNB is autonomous and independent and submits reports on its activities to the Croatian Parliament.