Banco de España

The Bank of Spain (Spanish: Banco de España, pronounced [ˈbaŋko ðe esˈpaɲa]) is the national central bank for Spain within the Eurosystem. It was the Spanish central bank from 1874 to 1998, issuing the peseta. Since 2014, it has also been Spain's national competent authority within European Banking Supervision. It was originally established by Charles III in Madrid in 1782, as the Banco Nacional de San Carlos, and took its current name in 1856. Its activity is regulated by the Bank of Spain Autonomy Act. The bank doesn't translate its name to English but uses its Spanish name in all English communications. The Bank of Spain holds 9.1 million troy ounces of gold (around 283 tons) (2019), which are stored in its own vaults and in various institutions in London and New York. According to IMF data, Spain ranks 20th among the 40 largest gold reserves in the world (as of July 2015). In addition to its monetary role, the Bank of Spain 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 Spain within European Banking Supervision. It is a voting member of the Board of Supervisors of the European Banking Authority (EBA). It is also a member of the European Systemic Risk Board (ESRB).