Central Banks

A central bank is the entity responsible for the monetary policy of a country or of a group of member states. In addition to distributing banknotes and coinage, it is primarily responsible for maintaining the stability of the currency and managing interest rates.

In the case of the French region, these banks were resposible for managing trade and relations between global regions and Paris. The central banks often issued notes in common designs ("omnibus" issues) across broad geographic regions different from the countries we now have on our maps or paper money catalogs.

Viewing the notes sorted by central bank or by omnibus rather than country is often more enlightening, and clears up the source of the common designs. I have provided below a list of the relevant central banks, each with a link to the banknotes produced by that bank.

France Region

Countries in this region:

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Banque Royale

In 1716, John Law created the Banque Générale (Banque Générale Privée), a private bank which was quickly nationalized and renamed Banque Royale. Along with Louis XV providing government funding, Law funded the bank and applied his own untried economic theories to this first French central bank. This was the first French Bank issuing paper money that was only partially backed by silver. After some initial success, the Banque Royale failed in 1720, just two years after its creation, having created an environment of hyper-inflation and public mistrust of a banking system.

Assemblée Nationale

In December of 1789, the National Assembly of the revolutionary government authorized the issuance of bonds, called Assignats, backed by sized royal and church properties ("Domaines Nationaux"). These were not initially intended to be used as currency, but as a way for the state to pay its debts, and for a time were successful. Within a year, with the country's economy in need of support, the Assignat was converted to legal tender. The Assignat was used through the rest of the revolution until its complete collapse in February 1797.

This bank issued notes for .

Banque de France

The third, and finally successful, French Central Bank is the Banque de France (BdF). It was formed by Napoleon Bonaparte in 1800 and marked the return to the Franc, based on value of gold and silver once again. BdF has provided financial oversight (often called the "bank of banks") for all of France's territories through the years, coordinating with the central banks listed below, and stabilizing exchange rates from French Francs to CFA, CFP and now Euros. The Banque de France is one of the few central banks that actually prints its own banknotes, with facilities in Chamalières, France.

This bank issued notes for .

Indochina Region

Countries in this region:

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Comptoirs Français des Nouvelles-Hébrides

This bank issued notes for .

Banque de l'Indochine

The Banque de l'Indochine was founded in 1875, and initially operated in China, Saigon (Vietnam), French India and Cochinchina (Vietnam). The bank expanded over the years to include Tonkin (Vietnam), Haiphong (Vietnam), Phnom Penh (Cambodia), Tahiti and Singapore. A branch was even opened in Djibouti. Banque de l'Indochine branches were eventually closed or acquired by other banks starting in the 1940's. Virtually all banknotes were provided by Banque de France, denominated in Francs or Piastres.

This bank issued notes for .

Trésorerie de Nouméa

This bank issued notes for .

Trésor Public, Cóte Française des Somalis

This bank issued notes for .

Institut d'Émission des États du Cambodge, du Laos et du Viet-Nam

In 1951, the responsibility for issuance of banknotes was transfered to The Institut d’Émission des États du Cambodge du Laos et du Viet-Nam, which issued individual notes for the three states: Cambodia, Laos, and Vietnam.

This bank issued notes for .

Banque Nationale du Cambodge

Along with Cambodia's independence from France in 1954, the Banque Nationale du Cambodge was created to replace the Institut d’Emission des Etats du Cambodge du Laos et du Vietnam.

This bank issued notes for .

Banque Nationale du Laos

Laos gained full independence from France in 1954, and the Banque Nationale du Laos assumed central banking functions from the Institut d’Emission des Etats du Cambodge du Laos et du Vietnam.

This bank issued notes for .

National Bank of Vietnam

Vietnam became independent from France in 1954. In 1955 the National Bank of Vietnam (Ngan Hang Quoc Gia Vietnam) assumed all central bank functions for South Vietnam.

This bank issued notes for .

West Africa Region

Countries in this region:

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Gouvernement Général de l’Afrique Occidentale Française

Founded in 1895, this was the issuing authority for the territories in French West Africa (Afrique Occidentale Française, AOF) which includes Ivory Coast, Dahomey, French Guinea, French Sudan, Mauritania, Niger, Senegal, and Upper Volta.

This bank issued notes for .

Banque du Senegal

This bank issued notes for .

Banque de l'Afrique Occidentale

Founded in 1903 in Dakar, Senegal to succeed the Banque du Senegal, the BAO was the central bank for French West Africa, which included the territories of Côte d’Ivoire (Ivory Coast), Dahomey (now Benin), French Guinea, French Sudan (now Mali), Mauritania, Niger, Senegal, and Upper Volta (now Burkina Faso). The BAO continued its to function until 1955, when it transitioned responsibility to the Institut d'Emission de l'A.O.F. et du Togo. In 1959, this function was then succeeded by the Banque Centrale des États de l'Afrique de l'Ouest (BCEAO).

This bank issued notes for .

Afrique Française Libre

Under the leadership of Félix Éboué, governor of the French colony of Chad, the region realigned from Vichy (Petain) to Free France (de Gaulle) in 1940.

This bank issued notes for .

Caisse Centrale de la France Libre

In 1941 the Comité National Français established the Caisse Centrale de la France Libre (Central Bank of Free France) as the central bank of Charles de Gaulle’s Free France. It was given note-issuing privileges for the colonies and overseas territories which were under the control of Free France.

This bank issued notes for .

Banque de la Guyane

This bank issued notes for .

Institut d'Émission de l'Afrique Équatoriale Française et du Cameroun

This bank issued notes for .

Gouvernement Général de l’Afrique Equatoriale Française

This bank issued notes for .

Caisse Centrale de la France d'Outre-Mer

From 1941 to 1958, the Caisse Centrale was responsible for issuing banknotes to French West Africa, French Equatorial Africa, Cameroun, Madagascar, the French Overseas Departments (DOM) and Saint Pierre-et-Miquelon. In 1945 it introduced the Franc CFA (Colonies Françaises d’Afrique) for use in the Equatorial African States. In 1959, the banking functions were transferred to the Institut d'Émission des Départements d'Outre-Mer and the Caisse Centrale has transitioned to be an economic development organization for the regions.

This bank issued notes for .

Afrique Occidentale Française

Local notes were authorized in 1944 to address a shortage of coinage

This bank issued notes for .

Institut d'Émission de l'A.O.F. et du Togo

In 1955, BAO transitioned its responsibilities to the Institut d'Emission de l'A.O.F. et du Togo and the Institut d’Émission de l’Afrique Équatoriale Française et du Cameroun.

This bank issued notes for .

Banque Centrale des États de l'Afrique de l'Ouest

The BCEAO was created in 1962 to provide monetary policy and delivers banknotes in CFA for countries in the West African States of Benin, Mali, Senegal, Burkina Faso, Ivory Coast, Togo, Niger, and Guinea-Bissau. It currently issues banknotes in CFA, interchangeable with the euro.

This bank issued notes for .

Banque Centrale du Mali

This bank issued notes for .

West Indies Region

Countries in this region:

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Banque de la Guadeloupe

This bank issued notes for .

Banque de la Martinique

This bank issued notes for .

Banque de la Réunion

This bank issued notes for .

Banque de Madagascar

In 1925, the Banque de Madagascar was created to issue currency and provide credit in French Madagascar.

This bank issued notes for .

Banque de Madagascar et des Comores

After World War II, Comoros became a French territory separate from Madagascar, however the two colonies continued to share a currency. In 1945, the Madagascar-Comores franc was established. The Banque de Madagascar changed its name to the Banque de Madagascar et des Comores and began issuing banknotes denominated in the new currency.

This bank issued notes for .

Institut d'Émission des Départements d'Outre-Mer

The IEDOM is the French Central Bank currently servicing the French Overseas Departments (Départements d'Outre-Mer, DOM) of French Antilles (including Guadeloupe, French Guiana, Martinique), Mayotte, Reunion and Saint-Pierre-et-Miquelon. The IEDOM was created in 1959, replacing the Caisse Centrale de la France d'Outre-Mer (CCFOM). From 1959 to 2002, IEDOM issued common design banknotes in French or CFA Francs, and as of 2002 is circulating euros.

This bank issued notes for .

Institut d'Émission Malgache

In 1960, Madagascar gained independence from France as the Malagasy Republic, and the Institut d’Émission Malgache was created to issue currency.

This bank issued notes for .

Banky Foibe'i Madagasikara

In 1975, the Second Malagasy Republic, called the Repoblica Demokratika Malagasy was created. As a result of the change in the country’s name, the former issuing bank was renamed Banky Foiben’i Madagasikara.

This bank issued notes for .

Institut d'Émission des Comores

In 1975, Comoros declared independence from France and created the Institut d'Émission des Comores to take over monetary functions from the Banque de Madagascar et des Comores.

This bank issued notes for .

Banque Centrale des Comores

In 1981, the Banque Centrale des Comores was formed, replacing Institut d'Émission des Comores as the issuing authority for Comores.

This bank issued notes for .

French Pacific Region

Countries in this region:

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Trésorerie de Nouméa

This bank issued notes for .

Institut d'Émission d'Outre-Mer

The IEOM is a French Central Bank created in 1967 and chartered to issue currency for the French Territories in the Pacific (TOM) including New Caledonia, French Polynesia (Tahiti) and Wallis-et-Futuna. Common-design banknotes in CFP Francs are used to this day; New Caledonia's notes are overprinted "NOUMEA", Tahiti's notes are overprinted "PAPEETE".

This bank issued notes for .

Central Africa Region

Countries in this region:

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Banque Centrale

This bank issued notes for .

Banque Centrale des États de l'Afrique Équatoriale et du Cameroun

Upon independence of the countries in the region in 1959, the Institut d'Émission de l'Afrique Équatoriale Française et du Cameroun was replaced by the Banque Centrale des États de l'Afrique Équatoriale et du Cameroun.

This bank issued notes for .

Banque Centrale États de l'Afrique Équatoriale

In 1963, the bank changed its name to Banque Centrale États de l'Afrique Équatoriale.

This bank issued notes for .

Banque des États de l'Afrique Centrale

The BEAC (Bank of the Central African States) was created on November 22, 1972 to provide monetary policy including a common banknote series for the countries of the Union Douanière et Économique de l’Afrique Centrale (UDEAC) which includes Cameroon, Central African Republic, Chad, Congo, Gabon, and Equatorial Guinea. In 1999 the UDEAC was superseded by the Communauté Économique et Monétaire de l'Afrique Centrale (CEMAC). The BEAC still functions today, still issuing notes in CFA (convertible to euro).

This bank issued notes for .

North Africa Region

Countries in this region:

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Banque de l'Algérie

The Banque de l’Algérie was created by the French Second Republic in 1851 as an issuing bank for Algeria. When Tunisia became a French Protectorate in 1881, BDA overprinted Algerian notes for use, and by 1949 specific designs were released for Tunisia.

This bank issued notes for .

Vichy Regime

After the fall of France to Germany in 1940, control of Algeria was transfered to the French Vichy regime.

This bank issued notes for .

Allied Occupation

After the Allies' sucessful Operation Torch in North Africa in 1942, control of the region was turned over to Free France.

This bank issued notes for .

Region Economiqe d'Algérie

Emergency issues produced in Algeria to address the lack of coinage when the Allied forces arrived in 1942.

This bank issued notes for .

Banque de Syrie et du Liban

This bank issued notes for .

Banque de l'Algérie et de la Tunisie

Banque de l’Algérie officially changed its name to Banque de l’Algérie et de la Tunisie in 1948. It printed specific notes for each country.

This bank issued notes for .

Banque Centrale de l'Algérie

In 1962, Algeria proclaimed independence from France and Banque de l'Algérie was replaced by the Banque Centrale d'Algérie. These are the last four notes produced by Banque de France for Algeria.

Banque de Syrie et du Grand-Liban

This bank issued notes for .

Banque d'État du Maroc

This bank issued notes for .

Empire Cherifien, Protectorat de la République Française

This bank issued notes for .

Banque du Maroc

This bank issued notes for .

Trésor Public Territoire Français des Afars et des Issas

This bank issued notes for .

Trésor Public, Cóte Française des Somalis

Under a 1949 agreement between France and French Somaliland, a new monetary unit called the Franc of Djibouti is created and aligned to the US dollar rather than French Franc. the Trésor Public, Cóte Française des Somalis assumed responsibility from Banque de l'Indochine for all monetary affairs.

This bank issued notes for .

Banque Nationale de Djibouti

The Banque Nationale de Djibouti is the issuing bank for the independent country of Djibouti, and is not tied to the French banking system other than Banque de France printing their banknotes.

This bank issued notes for .

Banque Centrale de Djibouti

Banque National de Djibouti changed its name to Banque Centrale de Djibouti in 2000.

This bank issued notes for .

Balkans Region

Countries in this region:

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Chartered National Bank of the Kingdom of Serbia

This bank issued notes for .

National Bank of the Kingdom of Serbs, Croats and Slovenes

Early provisional issues from this authority in 1919 were Austro-Hungarian notes overprinted with postage or ink stamps. The first notes created specifically for the Kingdom of Serbs, Croats and Slovenes were printed by Bank of France later that same year.

This bank issued notes for .

Serbian National Bank

This bank issued notes for .

Royal Government

National Bank of the Kingdom of Yugoslavia

This bank issued notes for .