Central Bank Of Spain

Central Bank of Spain

Introduction

The Bank of Spain building is one of the most emblematic buildings in the Community of Madrid. Its construction began in 1782 being initially the San Carlos National Bank and was located in the Monistrol Palace, in Madrid. In Spain it was a hard time of wars due to the clashes between France and England and together with the financial crisis, the San Carlos National Bank began to borrow. Thanks to the help of Rey Fernando VII, a solution was found and became the Spanish bank of San Fernando. Its main function was to issue tickets and finance the government.

Developing

In 1844 the Bank of Isabel II was created. It arises to enhance commercial life and was responsible for issuing a carrier tickets. This caused that there were disputes between both banks, and finally in 1847 the financial crisis caused both banks to merge. The fusion of both banks was located in the building of the five major guilds, on Atocha Street, Madrid. Finally, in 1856 it is renowned and becomes the Bank of Spain and the first subgovernors and the governor are appointed. And the first branches begin to open in Alicante and Valencia. In 1874 it is officially declared as the only ticket distributor to the Bank of Spain. 

And moves to the current building of the Bank of Spain in 1891. Located on Alcalá 48 street. In 1962 a decree-law, on June 7 on nationalization and reorganization of the Bank of Spain, and ceases to be a corporation and is nationalized and nationalizes.

And begins to perform the functions that banks perform. The Bank of Spain has suffered many modifications over the years, since the institution was growing and the lack of space prompted the purchase of more land. In the first expansion of the facilities, the Count of Santamarca is acquired and an extension of the facade was made. 

conclusion

The second extension is done in 1969. Closing the building on the street of Los Madrazos and Marqués de Cubas. In the third extension a new project is carried out with the corner of the streets of Alcalá and Marqués de Cubas. Creating a closed apple and providing the bank more security. Finally, in 2006 the last expansion of the building was inaugurated. It included facades such as the originals, but with some architectural variation. The next photograph is a model that is located within the Bank of Spain in which we can see what the Bank of Spain is currently.