Quotes from Act V of 1924 on the Establishment and Scope of Operations of the Magyar Nemzeti Bank and the reasons provided thereto:
“A well-organised banknote issuing institution can, by normal means, and through a purposeful and rational loan and foreign exchange policy, stabilize the value of money and ensure stability.”
“A core duty of the central bank is to stabilise the international value of a currency.”
“The central bank should not deviate from the principles of a prudent issuance of banknotes.”
“The sound organisation and smooth functioning of the central bank constitute an essential precondition for public and state loans.”
The transactions [of Magyar Nemzeti Bank] shall be the ones performed by central banks in general.
Magyar Nemzeti Bank shall be obliged to ensure the permanent value of banknotes with all tools available. The role of the Magyar Nemzeti Bank is to regulate the circulation of money in the territory of Hungary, facilitate the settlement of payments and ensure the exploitation of available assets, in particular, prepare cash payments by collecting claims for gold and other convertible currencies (foreign currencies) and ensure their preservation after cash payments have been legally initiated.”
Quotes from the Staff Regulations issued by the Magyar Nemzeti Bank (1924):
“Every staff member shall perform his duties attentively, faithfully, and diligently, in strict compliance with the law and the general staff instructions issued, and shall, as far as possible, preserve and promote the interests of the Bank in good faith.
Managers of banking institutions and departments are responsible for allocating work in a fair and equal manner in the interests of the service, for maintaining orderly procedures and for ensuring that transactions are performed diligently and quickly.
A manager is obliged to know his subordinates thoroughly and to describe them with the strictest objectivity, free from all influence and prejudice, conscientiously and to the best of his knowledge.
Managers should demonstrate firm, dignified, but also benevolent and friendly behaviour towards their subordinates. They should endeavour to address minor misconduct by warnings and instructions, but misconduct of a more serious nature or offences should be reported to the management immediately, without being influenced by any inappropriate mercy in the performance of this duty.”
Sample oath for officials (1924), excerpt
“After you have been appointed a permanent official of Magyar Nemzeti Bank, you are required to take an oath that you will strictly observe the Articles of Association of Magyar Nemzeti Bank and the separate resolutions for each business, you will act in accordance with your duty as stated in the Staff Regulations, you will be loyal, attentive and reliable at all times in the performance of your duties, you will demonstrate a behaviour towards business partners and all employees of the Bank in a manner that you prove you deserve the honour and trust both during and beyond office hours that is requested by your position.”