Analiza zmian w funkcjonowaniu bankowości centralnej w Polsce po 1924 roku
The analysis of changes in the functioning of central banking in Poland after 1924

Summary/Abstract: Purpose – The main aim of the article is to compare central banks functioning in Poland after 1924 (Bank Polski SA and NBP) in therms of their competence and level of independence. Description – The conducted comparison concerns the functioning of central banks, both in the organizational context as well as their independence in the functional, institutional and personal as well as financial dimension, with particular emphasis on Bank Polski SA and the National Bank of Poland (NBP). Despite the break in the independence of the central bank in Poland in 1945-1989, after 1989 this independence was rebuilt. In contrast to Bank Polski SA, which acted as a private joint-stock company, the NBP operates as a state institution, but since 1989 it has taken full responsibility for monetary policy together with a ban on financing the budget deficit, which ensured functional and financial independence. Currently, the NBP is the most independent Polish central bank after regaining independence in 1918. The paper is based on the national literature and legal acts regulating the activity of central banking in Poland.

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