What is the official name of Iceland’s central bank, founded in 1961?

The Central Bank of Iceland is Iceland’s central bank, founded in 1961.

It was established by separating central-bank functions from the country’s banking arrangements and became responsible for monetary policy, currency issuance and financial stability. Its headquarters are in Reykjavík, Iceland’s capital.

The institution issues Icelandic króna banknotes and coins in accordance with Icelandic law and uses monetary policy to support price stability. Iceland is not a member of the European Union and does not use the euro, so the central bank retains responsibility for a national currency.

The name is easy to confuse with “Landsbankinn,” one of Iceland’s commercial banks, and with the historical National Bank of Iceland. The Central Bank of Iceland also became closely associated with financial-supervision responsibilities after Iceland’s banking crisis, although the country’s regulatory structure has changed over time.