The Pénzintézeti Központ was Established 100 Years Ago

On the occasion of the centenary of the Pénzintézeti Központ's establishment in 1916 as the first integrated supervisory “top-level organisation”, this study endeavours to outline the historical background and the stages of the formation of the institution, starting in the second half of the 19th century. The analysis seeks to determine the factors that led to the emergence of the activities and operating framework of the Pénzintézeti Központ, the supervisory paradigms that influenced its inception and the negative experiences or circumstances that can be associated with its activities. The study presents the operation of the supervisory bodies preceding the Pénzintézeti Központ as regards banks, savings banks and cooperatives, and aims to show the contemporary economic conditions and the situation of the financial architecture, in line with contemporary thinking and on the basis of the relevant opinions of the experts from that era