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The Bank of Slovenia

The Bank of Slovenia is the central bank of the Republic of Slovenia. It was established in June 1991 within the package of legislation for independence. One of its first tasks was overseeing the transition to a new currency, the Slovenian tolar (SIT), which was the legal tender until January 2007, when Slovenia adopted the euro and became the 13th member of Eurozone.
The function of the Bank of Slovenia changed with the introduction of the euro and membership of the Eurozone. Since then the Bank uses the Statute of the European System of Central Banks (ESCB) and of the European Central Bank (ECB) in carrying out its role. Its key tasks as a member of the ESCB are to define and implement Eurozone monetary policy, to conduct foreign exchange operations, to hold and manage the official foreign reserves of Member States, and to promote the smooth operation of payment systems.

The Bank is an independent legal entity under public law, owned by the state. It has managerial and financial autonomy, which means the members of its operational bodies are not bound by any decision made by any government bodies, or even required to turn to them for guidance or advice. The executive bodies of the bank are the Governor and the Governing Board. The Governing Board consists of five members, the Governor and four Vice-Governors. The Governor and the Vice-Governors of the Bank of Slovenia are proposed to the National Assembly by the President of RS and elected every six years.


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