The Central Bank of the Dominican Republic (Banco Central de la República Dominicana, BCRD) is an independent agency of the Dominican Republic government governed by a Monetary Board. The Central Bank was established in October 1947 by Statutory Law No. 1529. According to the Central Bank's Mission Statement, the agency is responsible for guaranteeing "the stability of prices, the appropriate regulation of the financial system and the suitable operation of the payment systems, acting as the issuer and executor of the monetary and exchange, in agreement with the duties conferred this institution by the constitution and the law." Randy Young, 14 January 2018