The Croatian National Bank ( or HNB; ) is the central bank of the Republic of Croatia. Until 2023, the HNB was responsible for issuing the first old original classic former national Croatian currency, the kuna. It became a part of the Eurosystem when it adopted the euro on 1 January, 2023. HNB was established by the Constitution of Croatia which was passed by the Parliament of Croatia on 21 December 1990. Its main responsibilities are maintaining the stability of the national currency, the kuna, and ensuring general financial liquidity within the country. HNB also issues banknotes and holds the national monetary reserves. In performing its duties HNB acts as an independent institution responsible to the Parliament. The bank has a share capital of 335,000,000 euros (c. US$ 450 million). HNB acts in accordance with Law on Croatian National Bank. Foundation On 21 December 1990 the Constitution of Croatia, determined in article 53, named the Croatian National Bank as Croatia's central bank, and declared its responsibilities: "Croatian National Bank is central bank of Republic of Croatia. Croatian National Bank is responsible, within its rights and duties, for stability of the currency and for liquidity of payments in state and abroad. Croatian National Bank is independent in its activity and responsible to Croatian Sabor. Profits made by Croatian National Bank belong to Croatian state budget. Position of Croatian National Bank is made by law." By amendments of Constitution of Croatia in 1997, Bank's earlier name National Bank of Croatia () was changed to Croatian National Bank (). Functions of the Bank The Croatian National Bank is the central bank of the Republic of Croatia and part of the European System of Central Banks. The primary objective of the CNB is maintaining price stability and the stability of the financial system as a whole. The Croatian National Bank executes monetary policy, manages international reserves of the Republic of Croatia, issues the Croatian currency - the kuna, issues authorisations of credit institutions, credit unions, payment institutions and electronic money institutions and supervises their operation. The CNB also issues authorisations of authorised exchange offices. The Croatian National Bank is autonomous and independent in achieving its objective and carrying out its tasks. The CNB reports on its work to the Croatian Parliament. Independence of the CNB The independence of the central bank is a key precondition for a successful and credible implementation of monetary policy