The central bank, its legal status and scope of activities

Title of thesis: Central bank, its Legal Position and Functions Central bank plays vital role in the economy of each country and its activities also significantly influence the overall macroeconomic output of the national economy. The aim of this thesis is to analyze legal position and common functions of central banks and asses the current legislation concerning Czech National Bank. The thesis is composed of five chapters, all together aiming to give an overall picture of the position of national banks with focus on the Czech National Bank. First chapter provides a brief description of the banking system and the role of central bank and describes the possible alternative arrangements in the absence of a fully-fledged central bank - currency board, dollarization, free banking and monetary union. Second chapter provides information on the reasons for the establishing first national banks and briefly describes the evolution of central banking in the Czech lands. Chapter three is divided into two parts. The first part analyzes legal regulation of central banks in national jurisdictions and especially regulation of the Czech National Bank. Second part of the chapter addresses the independence of central banks which is important particularly for monetary policy and examines different aspects of the..