1856 German bankers create the Banque Internationale Luxembourg, the only private bank in continental Europe allowed to issue money. The public Saving Bank starts its activities in the same year. Creation of the Banque Nationale du Grand Duchy, a first attempt to create a central bank. Unfortunately, BNL gets bankruptcy in 1881. G n rale de Belgique, that was to become Banque G n rale du Luxembourg in 1935, a company of Luxembourg right.
German capital is replaced by Belgian and French capital.
1921 Banque Nationale de Paris opens in Luxembourg 1929 Creation of the Luxembourg stock exchange and enactment of the law on holding companies 1936 Establishment of a subsidiary of Banque Nationale de Belgique with limited activities. 1945 Creation of the Banking Control Commission and opening of its first office. The euromarket starts playing an important part. Golden years for the eurobonds. 1961 First Eurobond issue to be listed on the Luxembourg Stock Exchange.