Banque de France
About Banque de France
Founded by Napoleon Bonaparte in 1800 to stabilize the French economy after the Revolutionary assignat hyperinflation. The Banque de France was privately owned with shareholders until nationalized in 1945. Napoleon required the Bank to maintain metallic reserves and stabilize the franc. The Bank had monopoly on banknote issuance in Paris by 1803 and nationwide by 1848. The Bank of France participated in the creation of the European Central Bank and transferred its reserve assets in 1999. The Bank still exists as part of the European System of Central Banks, with its historic headquarters on Rue de la Vrillire in Paris.
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