Headquarters | Havnegade 5, Copenhagen |
---|---|
Established | 1 August 1818 |
Ownership | independent, self-governing institution [1] |
Royal Director | Christian Kettel Thomsen [2] |
Central bank of | The Kingdom of Denmark |
Currency | Danish krone DKK (ISO 4217) |
Reserves | 479,065,000,000DKK [3] |
Website | www |
Danmarks Nationalbank (in Danish often simply Nationalbanken) is the central bank of the Kingdom of Denmark. It is a non-eurozone member of the European System of Central Banks (ESCB). Since its establishment in 1818, the objective of the Nationalbank as an independent and credible institution is to issue the Danish currency, the krone, and ensure its stability. The Board of Governors holds full responsibility for the monetary policy. [4]
Danmarks Nationalbank undertakes all functions related to the management of the Danish central-government debt. The division of responsibility is set out in an agreement between the Ministry of Finance of Denmark and Danmarks Nationalbank.
The bank was established on 1 August 1818 by King Frederick VI of Denmark. The private bank was given a 90-year monopoly on currency issue, which was extended in 1907 out to 1938. In 1914, the National Bank became the sole banker for the Danish government. The bank became fully independent of the government in 1936.
The National Bank established a network of branches in Denmark's principal cities, but phased them out in the second half of the 20th century as they were no longer needed due to evolving practices and technologies. The last two branches, in Aarhus and Odense, closed in 1989. [5] : 134-135
Until 20 December 2016, Danish and Faroese banknotes were previously printed at Danmarks Nationalbank's Banknote Printing Works. [6] The printing of banknotes was then outsourced due to a reduced demand for cash, [7] and cut in expenses of 100 million kroner until 2020. [8]
The building which currently houses the bank's headquarters was designed in the early 1960s by the renowned architect Arne Jacobsen, in collaboration with Hans Dissing and Otto Weitling , and built between 1965 and 1978. After Jacobsen's death in 1971, his office, renamed Dissing+Weitling, brought the building to completion. The National Bank moved into the new premises in 1976. The Agency for Culture and Palaces listed it as national heritage in 2009. [5] : 16
The new building replaced an earlier neo-Renaissance structure, inspired by the Palazzo Strozzi in Florence and designed for the National Bank by Johan Daniel Herholdt, which had been erected in 1866-1870. The National Bank had moved into this building in 1870 from its original premises on Slotsholmsgade, in a building (now demolished) designed in the 18th century by Caspar Frederik Harsdorff. [5] : 16
The official logo of the bank is a nineteenth-century version of Denmark's coat of arms showing the insignia of Denmark, Schleswig, and Holstein. The two latter provinces were lost in the 1864 Second War of Schleswig, and the bank is the only official Danish institution still using this insignia. Since the late 19th century, coins minted by the bank carry a heart-shaped mint mark. Before this time, the Mint used a mark showing the royal crown.
The Board of Governors consists of three members. The Chairman of the Board of Governors is Governor by Royal Appointment. The two other Governors are appointed by the Board of Directors.
The krone is the official currency of Denmark, Greenland, and the Faroe Islands, introduced on 1 January 1875. Both the ISO code "DKK" and currency sign "kr." are in common use; the former precedes the value, the latter in some contexts follows it. The currency is sometimes referred to as the Danish crown in English, since krone literally means crown. Krone coins have been minted in Denmark since the 17th century.
The króna is the currency of the Faroe Islands. It is issued by Danmarks Nationalbank, the central bank of Denmark. It is not a separate currency, but is rather a local issue of banknotes denominated in the Danish krone, although Danish-issued coins are still used. Consequently, it does not have an ISO 4217 currency code and instead shares that of the Danish krone, DKK. This means that in the Faroe Islands, credit cards are charged in Danish kroner. The króna is subdivided into 100 oyru(r).
Kjøbenhavns Boldklub is a Danish professional multi-sports club based in Copenhagen. The club was founded on 26 April 1876 on the grassy fields in outer Copenhagen which later became Fælledparken. Tennis has been played since 1883. The club hosted, in 1921, one of the early tennis majors: the World Covered Court Championships, won by William Laurentz that year. Today, along with the sports already mentioned, the club also has facilities for badminton, swimming and pétanque.
The rigsdaler was the name of several currencies used in Denmark until 1875. The similarly named Reichsthaler, riksdaler and rijksdaalder were used in Germany and Austria-Hungary, Sweden and the Netherlands, respectively. These currencies were often anglicized as rix-dollar or rixdollar.
The Greenlandic krone was a planned currency for Greenland, plans of which were abandoned in 2009. The same name is often used for currency issued during Greenland's time as a Danish colony. The name krone is derived from the Danish krone, introduced in an 1873 currency reform that replaced Danish mark and skilling.
The Danish state bankruptcy of 1813 was a domestic economic crisis that began in January 1813 and had consequential effects until 1818. As Denmark–Norway struggled with the financial burden that the Napoleonic Wars had on the economy, the devaluation of the currency had negative effects on merchants, citizens and businesses alike.
Events from the year 1959 in Denmark.
Events from the year 1873 in Denmark.
Emil Axel Berg was a Danish architect. He received the Neuhausen Prize, C. F. Hansen Medal, and Eckersberg Medal, and was honored as a Knight of Order of the Dannebrog.
The Royal Mint of Denmark is a mint established by the Danish monarchy in the early 16th century, which currently by law is the only company allowed to mint the Danish currency (DKK). It is owned by the Danish State and administered as a subsidiary of the Danish Central Bank.
The Jennow House is a historic property located at Strandgade 12 in the Christianshavn neighbourhood of Copenhagen, Denmark. It takes its current name after Andreas Jennow, a businessman who owned it from 1949 to 1978. His company Andreas Jennow A/S was based in the building until 1988.
The Jens Lauritzen House is a Neoclassical property at Nytorv 7 in the Old Town of Copenhagen, Denmark. Home to the Association of Folk High Schools in Denmark, the building is now also known as Højskolernes Hus.
Nyhavn 18 is a listed property overlooking the Nyhavn canal in central Copenhagen, Denmark. The writer Hans Christian Andersen lived on the first floor from 1871 until shortly before his death on 4 August 1875. The building has now been converted into residences for visiting guest artists and scientists.
Ordrup Cemetery is a cemetery in Ordrup in the northern suburbs of Copenhagen, Denmark. It is the principal cemetery for the districts of Skovshoved, Ordrup, and Charlottenlund in the parishes of Ordrup and Skovshoved.
Signe Krogstrup is a Danish economist and one of the three governors of Danmarks Nationalbank, the Danish central bank. Previously she has worked for the Swiss National Bank and the International Monetary Fund.
The Sigvert Grubbe House is a Renaissance style townhouse situated at Strandgade 28 in the Chrstianshavn neighborhood of central Copenhagen, Denmark. The property comprises the building at Wildersgade 41 on the other side of the block as well as a half-timbered building separating two central courtyards from each other. The apartment on the first floor features a number of murals attributed to Nicolai Abildgaard. The entire complex was listed in the Danish registry of protected buildings and places in 1918. It takes its name after its first owner, Sigbert Grubbe, a favourite of ChristianIV. It was later owned by Jacob Benjamin Italiaender, a Sphardi Jew, who established a tobacco manufactory as well as a private sunagogue in the yard. The painter Peder Severin Krøyer grew up in the building in the 1860s.
Christian Kettel Thomsen is Royal Governor of the Bank of Denmark. He has also served as Permanent Secretary at the Prime Minister's Office (2010–2020) and Ministry of Finance (2005–2010), and as Vice-President of the European Investment Bank (2020–2023).