Bank of Slovenia

Bank of Slovenia
Banka Slovenije (in Slovene)
Seat of the Bank of Slovenia in Ljubljana
Central bank ofSlovenia
HeadquartersLjubljana
Established25 June 1991
Ownership100% state ownership[1]
PresidentPrimož Dolenc
Reserves350 million USD[1]
Succeeded byEuropean Central Bank (2007)1
Websitewww.bsi.si
1 The Bank of Slovenia still exists but many functions have been taken over by the ECB.

The Bank of Slovenia (Slovene: Banka Slovenije) is the national central bank for Slovenia within the Eurosystem. It was the Slovenian central bank from 1991 to 2006, issuing the tolar. In 1991 it had succeeded the National Bank of Slovenia, established in 1971 within the federal monetary system centered on the National Bank of Yugoslavia.

In addition to its monetary role, the Bank of Slovenia is also a financial supervisory authority. In that capacity, it increasingly implements policies set at the European Union level. It is the national competent authority for Slovenia within European Banking Supervision.[2] It is a voting member of the Board of Supervisors of the European Banking Authority (EBA).[3] It is Slovenia's designated National Resolution Authority and plenary session member of the Single Resolution Board (SRB).[4] It is also a member of the European Systemic Risk Board (ESRB).[5]

Overview

The National Bank of Slovenia was originally established in 1971 under the decentralization reforms of that era, as one of eight so-called national banks complementing the National Bank of Yugoslavia (NBJ) within what was referred to as the System of National Banks.[6]: 4  The legal framework was finalized under Slovenian law in 1973-1976 within the Yugoslav federal system.[7]: 151 

In early 1991, during the early phase of the breakup of Yugoslavia, the National Bank of Slovenia started preparations to introduce a separate currency to replace the dinar, following revelations of capture of the NBJ by Serbian politicians.[8] Slovenian legislation reorganizing and renaming the National Bank as the Bank of Slovenia entered into force on 25 June 1991, the same day as Slovenia's declaration of independence which triggered the Ten-Day War. The Slovenian tolar was subsequently introduced as national currency on 7 October 1991.[9]: 5 

The Bank of Slovenia is a non-governmental independent institution, obliged to periodically present a report on its operation to the National Assembly of Slovenia. Its primary task is to take care of the stability of the domestic currency and to ensure the liquidity of payments within the country and with foreign countries. It also acts as the supervisor of the banking system.

The bank is headquartered in a prominent building in the center of Ljubljana, erected in 1920-1923 for the Ljubljana Credit Bank.[10]

2011 Banking Crisis

Unlike the Baltic states of Eastern Europe, Slovenia maintained very strong state control over its banks after joining the European Union. This created an ecosystem of cross-lending between public banks and government-linked companies. When the 2008 global financial crisis finally hit Slovenia's economy, the system collapsed.[11] The Slovenian state had to inject more than €3 billion into its own banks to prevent technical bankruptcy in 2013. Many public banks were privatized in the aftermath of the crisis.[12]

On March 22, 2018, Boštjan Jazbec announced his resignation as governor of the Bank of Slovenia, citing threats against his life.[13] This followed his refusal to support the political authorities' decision to bail out the bankers during the 2011 crisis through the central bank.

In October 2019, Boštjan Vasle clashed with parliament[14] when a law was passed requiring the central bank to compensate bondholders of banks bailed out in December 2013.[15]

Governors

In January 2025, Boštjan Vasle’s six-year term expired. Since then, Vice-Governor Primož Dolenc has been serving as Acting Governor, though without voting rights in the Governing Council of the European Central Bank.[17][18]

In May 2025, Slovenian President Nataša Pirc Mušar proposed Simon Savšek, head of the European Investment Bank’s office in Slovenia, as the next Governor, pending parliamentary approval.[19]

In January 2026, Pirc Mušar nominated the acting governor of the Bank of Slovenia, Primož Dolenc, as governor for a 6 year term[20]. On 3 February 2026, the Slovenian Parliament approved Dolenc's nomination.[21]

See also

References

  1. ^ a b Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
  2. ^ "National supervisors". ECB Banking Supervision. Retrieved 19 November 2025.
  3. ^ "Members and Observers". European Banking Authority. Retrieved 19 November 2025.
  4. ^ "National Resolution Authorities". Single Resolution Board. Retrieved 19 November 2025.
  5. ^ "List of ESRB Members and National Macroprudential Authorities". European Systemic Risk Board. 21 November 2025.
  6. ^ Predrag Četković (September 2015), The Role of Banks in Economic Development in the Former SFR Yugoslavia, Vienna: Wiener Institut für Internationale Wirtschaftsvergleiche
  7. ^ Ivan Ribnikar & Tomaž Košak. "Chapter 10: Monetary System and Monetary Policy" (PDF). In Mojmir Mrak, Matija Rojec, & Carlos Silva-Jáuregui (ed.). Slovenia: From Yugoslavia to the European Union. Washington DC: The World Bank.{{cite conference}}: CS1 maint: multiple names: editors list (link)
  8. ^ Blaine Harden (21 January 1991). "Slovenia takes steps to quit Yugoslavia: Republic to establish own currency, diplomacy". Washington Post.
  9. ^ Banka Slovenije Annual Report - Year 1991 (PDF)
  10. ^ "History of the Banka Slovenije building". Banka Slovenije. Retrieved 13 June 2025.
  11. ^ Bernabé, Daniel (26 July 2022). "Diez años de la intervención de la troika en España: aquel 2012 no es este 2022". infoLibre (in Spanish).
  12. ^ "Cronología de los principales hechos de la crisis de Eslovenia". La Vanguardia (in Spanish). 18 December 2013.
  13. ^ "Slovenia's central bank governor quits after death threats". Mostly Economics. 26 March 2018.
  14. ^ "Slovenian law passes despite central bank calling it illegal - Central Banking". www.centralbanking.com. 23 October 2019.
  15. ^ "State aid: Commission approves rescue or restructuring aid for five Slovenian banks". European Commission - European Commission.
  16. ^ "ECB's Vasle to Seek Second Term as Slovenian Central-Bank Head". Bloomberg.com. 18 September 2024. Retrieved 16 October 2024.
  17. ^ "Bank of Slovenia Acting Governor: Further Steps to Depend on the Current Situation". Econostream Media. Retrieved 16 October 2025.
  18. ^ "Slovenia Restarts Search Process for New Central-Bank Governor". Bloomberg.com. Archived from the original on 28 August 2025. Retrieved 16 October 2025.
  19. ^ Petrushevska, Dragana (26 May 2025). "Slovenia's president proposes new c-bank governor | Slovenia Politics News | SeeNews". seenews.com. Retrieved 16 October 2025.
  20. ^ "Slovenia's president nominates Dolenc as c-bank governor". seenews.com. 7 January 2026. Retrieved 3 February 2026.
  21. ^ "Slovenia ends year-long dispute to appoint central bank governor". the Financial Times. 3 February 2026.

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