CZ bank is, most likely, a reference to the Czech National Bank (Česká národní banka - ČNB), the central bank of the Czech Republic. It's responsible for maintaining financial stability and overseeing the financial market within the country.
Here's a breakdown of its key functions:
- Central Banking: The CNB is responsible for the Czech Republic's monetary policy, issuing currency, and managing the country's foreign exchange reserves.
- Financial Market Supervision: The CNB supervises banks, credit unions, insurance companies, pension funds, and other financial institutions operating in the Czech Republic to ensure their stability and compliance with regulations.
- Resolution Authority: The CNB is the resolution authority for the Czech Republic, meaning it is responsible for managing the resolution of failing financial institutions.
- Legal Framework: The CNB is established under the Constitution of the Czech Republic and operates in accordance with Act No. 6/1993 Coll., on the Czech National Bank, as amended.
In essence, the Czech National Bank (ČNB) acts as the guardian of the Czech financial system.
