• Source: National Bank of Liechtenstein

Liechtensteinische Landesbank AG, trading as LLB (stylised as llb), is a financial institution located in Liechtenstein, based in the capital city Vaduz. Since 1993 it has been listed as a company at the SIX Swiss Exchange, with the majority of shares (57.5%) owned by the Liechtenstein state. As the state is in a customs and monetary union with Switzerland and has adopted the Swiss franc as official currency, the monetary policy and money supply is the sole responsibility of the Swiss National Bank (SNB).
In addition to its primary operations in Liechtenstein, LLB also operates in Austria and Switzerland.




History


In 1992 Liechtenstein joined the European Economic Area which made the bank fear for its country's bank secrecy policy.
In 1993, the Liechtensteinische Landesbank was listed in the Swiss Stock Exchange, with the majority of shares (57.5%) owned by the Liechtenstein state.
In February 2007, the Liechtensteinische Landesbank became a controlling shareholder of the Banque Linth.




Tasks


Due to Liechtenstein's signed valuta union agreement with Switzerland and its adoption of the Swiss franc as its official currency, the Swiss National Bank performs most duties in administration of macro finance, currency and credit of banks. The National Bank of Liechtenstein however is responsible for the following three tasks:

"To be secretariat for the Government in the administration of macro finance, currency, credit of Banks within the country."
"To promote and maintain stability of price within the country; strengthen the efficiency of payments mechanism."
"To promote and facilitate control on the flows of money to serve the socio-economic development plan of the Liechtenstein."




CEOs


1928–1967: Eduard Batliner
1967–1971: Josef Hilti
1971–1979: Werner Strub
1979–1996: Karlheinz Heeb
1996–1999: René Kästli
2000–2012: Josef Fehr
Since 2012: Roland Matt




See also



Economy of Liechtenstein
List of central banks




References






External links



Official site: National bank of Liechtenstein
Swiss and World Interest Rates, updated by ForexMotion.com.

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