Finanse, Rynki Finansowe, Ubezpieczenia

Purpose – The purpose of this study is to analyze the legal provisions which indicate the role and tasks of the Polish National Bank in the sphere of foreign exchange transactions. Under the provisions of art. 52 of the Act on the Polish National Bank, the bank is the central banking institution of foreign exchange transactions and is the subject with legal foreign exchange status. The main thesis of this paper is a direct relationship of exchange controls exercised by the President of the NBP with statutory category of „central banking foreign exchange institution”. The aim of the study is an indication that modern central bank, as the central bank foreign exchange institution should carry out other tasks than in previous years. The role of the central bank has changed in the context of the functioning of the entire financial market. Research methodology – Basic research method is based on a comprehensive analysis of the normative materials with regard to the issues raised in the work. In addition, in the article is presented an analysis and assessment of the views expressed in the literature. One of the methods used is the analytical method, mainly in relation to the terms used on the basis of the foreign exchange law. Result – The analysis confirms the special exchange standard legal status of the Polish National Bank. Exchange control exercised by the President of the NBP is one of the elements that make up the fulfillment of the „central bank foreign exchange institution”. The analysis allows to put questions about the control system, which operates in Poland and equitable distribution of power between the Financial Supervisory Commission and the Polish National Bank. Originality/value – The literature is not indicated so far on the NBP as the central banking institution and foreign exchange position in the field of exchange control. The granting of this special status to NBP makes the central bank is seen as an institution with a broad spectrum of activity but not always corresponding to the EU requirements. The value of this study is to raise questions regarding the scope of exchange controls, and the scope of the tasks that the NBP should pursue acting as a central bank foreign exchange institution.