National Bank of Czechoslovakia

In response to the economic decline, the Finance Minister at the time, Alois Rašín, implemented strong deflationary policies in an attempt to prevent further hyperinflation.

While Rašín's policies most likely averted hyperinflation as extreme as happened in Austria and Germany, public opinion was hostile to the Ministry of Finance.

Minister of Finance Karel Engliš attempted to end the deflationary policy by devaluating the koruna, while maintaining the gold standard.

Despite political turmoil and difficulties with the central bank, Czechoslovakia began a slow rebound in 1934.

[2] In March 1939, Adolf Hitler fostered the secession of Slovakia and took over the Protectorate of Bohemia and Moravia, and the National Bank was consequently divided into two separate entities respectively in Bratislava and Prague.

More than 45 metric tons of the National Bank's gold reserves was seized by Deutsche Reichsbank.

The State Bank granted credit to the individuals that needed capital to meet their business's economic expectations.

In some cases, however, it commissioned new buildings from Czechoslovak architects, for example in Slovakia from Emil Belluš (in Bratislava), Vladimír Fischer (in Ružomberok), and Ladislav Skřivánek [cs] (in Banská Bystrica).

The National Bank of Czechoslovakia was established in the Schebek Palace , the former Prague branch of the Austro-Hungarian Bank .
From its establishment in 1950, the State Bank of Czechoslovakia was located in the former Prague head office [ cs ] of Živnostenská Banka .
Alois Rašín , the founder of independent Czechoslovakia's monetary system
Josef Tošovský was the last head of the State Bank of Czechoslovakia and went on to lead the Czech National Bank until 2000, aside from a brief stint as Czech Prime Minister in 1997-1998