The Bank of Cresia is the central bank of the Republic of Cresia. It is responsible for setting the monetary policies of Cresia, issuing Cresian Currency Unit (crescu) banknotes, and minting crescu coins. Unlike other governmental agencies of Cresia, the Bank of Cresia is located in Avana.
History[]
The old Bank of Cresia was founded in Avana, within the old Republic of Cresia. After Cresian War II, the Treaty of Belsca stipulated the retention of the crescu as the common currency of Cresia and Iscra. To facilitate decision-making in economic policies, the current Bank of Cresia was founded as an intergovernmental agency of the Cresian Union, independent from all national governments on Cresia and Iscra. The old Bank of Cresia was then renamed the Bank of Avana and transferred its powers and duties to the new institution.
After Cresian War III and Cresian reunification, the Bank of Cresia became a governmental agency of the new Republic of Cresia. As Avana was still the preeminent financial center of Cresia, the Bank of Cresia remained in Avana, unlike other agencies which moved to Rohenna or Gesenna.
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