ISBN: 978-90-6665-532-4
200 pagina's
1e druk, 2003
February 6, 2003 marks the 175th anniversary of the Bank, which was founded by order
of King William I in 1828. The Bank van de Nederlandse Antillen is by far the oldest still
existent bank of circulation in the Western Hemisphere and the oldest central bank in the
world. Starting in 1828 as the Bank van Leening, entrusted with the task to provide capital
to merchants and agricultural developers in order to promote economic activity, the Banks
tasks has changed numerous times in the years of its existence starting in 1907 with the first
new bank charter. In this Charter the Bank became the Curaçaosche Bank and a formal
monopoly on the issuance of banknotes was granted to the Bank. During the years that
followed its function as issuing bank became more important. In 1937, the banknotes in
circulation further gained in importance, as the notes were officially considered legal means
of payment in transactions involving private parties whereas before it was only officially
accepted as a means of payment by the government. This change in the functioning of the
Bank has been a gradual process which, on the eve of the Second World War, resulted in
the following functions for the Bank: it controlled the number of banknotes in circulation, it
serviced the circulation of coins on behalf of the government, it managed the gold and silver
reserves and strived to maintain exchange rates within margins acceptable for the commercial
banks.
In the space of three decades the Curaçaosche Bank evolved from a general lender
into a lender of last resort; from everybodys bank to a bankers bank. In the years from
the early 1970s through the early 1980s the Bank transformed gradually from a government
department to an independent institution. The independence was deemed necessary to
safeguard the value of the Antillean Guilder and to guarantee its convertibility. With its
autonomous position, the bank was able to attract and maintain highly trained personnel.
Thus the Bank became a center of excellence. In 175 years the Bank has evolved from a
near dormant institution in the nineteenth century to a vibrant organization able to adapt
to the ever changing financial world in the twenty-first century. 1828-2003: 175 years the
anchor of integrity and financial stability.
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