JEDAN POGLED NA RAZVITAK INSTITUTA CENTRALNOG BANKARSTVA

Abstract

In the paper, the author aims at providing a comparative and historical overview of the development of the central bank as the supreme monetary institution that maintains financial stability, performs numerous important functions and has a monopoly over issuing money. To this end, a review of the genesis of central banking in different legal systems is offered - from the American Federal Reserve to the Serbian National Bank. It is argued that the emergence of different central banks was motivated by similar reasons. The stimulus, from the point of view of the states, can often be found in the need to prevent the enormous amounts of banknotes that were in circulation and the misuse of money that was a frequent occurrence in private banks with issuing powers.