Reserve Bank of India Report on Currency and Finance for the Year 1948-49

In Bulgaria likewise the rate was reduced because with the nationalisation of all Bulgarian banks and the concentration of banking in the National Bank and the Investment Bank the role of the National Bank was extended so as to meet the needs of economic planning which necessitated low discount rates for selected operations. [...] The management of the Bank is vested in a Monetary Board consisting of seven members including three ex-officio members namely the Secretary of Finance who will preside at the meetings of the Board the President of the Philippine National Bank and the Chairman of the Board of Governors of the Rehabilitation Finance Corporation ; the other four members including the Governor are to be appointed [...] The management of the Bank is entrusted to a Board of Directors and a Board of Managers the former being responsible for policy and general supervision and the latter for the execution of policy and the day-to-day management. [...] The management is entrusted to a Board of five directors three of whom including the President of the National Bank are to be appointed by the President of the Republic and the other two by the commercial banks. [...] The Rumanian National Bank was reorganised towards the end of 1948 under the name of The Bank of the Rumanian People's Republic State Bank." The new Bank has a capital of Lei 2 milliard and its President has the status of a minister at the Ministry of Finance.