What was the name of the first central bank in the world, established in 1668?

The first central bank in the world, established in 1668, was Sveriges Riksbank. Sweden’s Riksdag created the institution in Stockholm as Riksens Ständers Bank, or the Bank of the Estates of the Realm.

It replaced Stockholms Banco, founded in 1656 and regarded as Europe’s first bank to issue banknotes. That earlier bank failed after issuing more notes than it could redeem, helping persuade Swedish lawmakers that monetary affairs needed stronger public oversight.

The institution was renamed Sveriges Riksbank in 1866. It is the world’s oldest surviving central bank, although it was not always independent in the modern sense and did not begin issuing Sweden’s banknotes until later. The Bank of England, founded in 1694, is therefore younger despite being more familiar to many readers.

A common mix-up is treating the oldest bank of any kind as the oldest central bank. Several European banks predate 1668, but Sveriges Riksbank holds the central-bank distinction.