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===Central Bank=== {{main|Bank of Estonia}} The Bank of Estonia ({{langx|et|Eesti Pank}}) is the central bank of the Republic of Estonia. Its mission is to maintain the stability of the Estonian financial system. It administers the circulation of currency, implements monetary policy, advises the Government and reports to the Parliament. However, it operates independently of other national government agencies. It is a member of the [[European System of Central Banks]] and may receive instructions from the [[European Central Bank]]. It is overseen by the supervisory board, which includes a chairman together with seven members. The chairman of the supervisory board is recommended by the President and appointed by the Parliament for a term of five years. The Bank of Estonia is headed by the Governor of the Bank of Estonia, who is recommended by the supervisory board and appointed by the President for a term of five years, but no more than one consecutive term. The Governor is also the chairman of the executive board, which is responsible for planning and organising the work of the institution. Furthermore, the Governor represents the Republic of Estonia in the Board of Governors of the [[International Monetary Fund]]. The Bank of Estonia is governed by strict confidentiality rules regarding banking secrets. The organisation and activities of the Bank of Estonia is regulated by the Bank of Estonia Act.<ref name=":1"/><ref name=":7"/><ref name=":8"/>
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