The Bank of Amsterdam (Dutch: Amsterdamsche Wisselbank, literally "Exchange Bank of Amsterdam") was an early bank, vouched for by the city of Amsterdam, and established in 1609. It was the first public bank to offer accounts not directly convertible to coin. As such, it can be described as the first true central bank. Unlike the Bank of England, established almost a century later, it neither managed the national currency nor acted as a lending institution (except to the government in emergencies); it was intended to defend coinage standard. The role of the Wisselbank was to correctly estimate the value of coins and thus make debasement less profitable. It occupied a central position in the financial world of its day, providing an effective, efficient and trusted system for national and int