Timeline

• 27.02.1919
• Government decree [No. 152] on the implementation of the currency separation; effective immediately:
  - On, 10.03.1919, 50& of the bank deposits were blocked
  - On 12.03.-29.03.1919: Overprinting of large-denomination notes of the Austro-Hungarian Bank (additional overprinted notes of 2, 1 Crown were issued in August-September 1920 due to a shortage in small denominations).
• 25.03.1919
• Government decree [No. 191] on the sole legal tender status of overprinted notes of the Austro-Hungarian Bank (smaller denominations remained tolerated); effective immediately
• 10.09.1919
• Treaty [of Saint-Germain-en-Laye] on the peace terms between the Allied powers and former Austria-Hungary; effective 16.07.1920:
  - §206 dealt with the dismantling of the Austro-Hungarian Bank.
• 22.12.1919
• Law [No. 574] on the establishment of the "Austro-Hungarian Bank (Austrian Management)" as provisional Austrian central bank; effective 01.01.1920 by government decree [No. 575] of the same day
• 19.07.1923
• Law [No. 423] on the issuance of subsidiary coins as a substitute for paper money; effective 26.07.1923
• 24.07.1922
• Law [No 490] on the establishment of the Austrian National Bank (amended by law [No. 823] of 14.11.1922); effective 01.01.1923 upon constitution of the bank, based on ordinance [No. 941] or 29.12.1922.
  - The "Austro-Hungarian Bank (Austrian Management)" was liquidated on 21.07.1923 by law [No. 374] of 06.07.1923.

Valuation Regimes

• 1919-1924
• Variable rate, after 1920 increasingly inflationary.

Timeline

• 20.12.1924
• Law [No. 461] on the currency reform based on the gold standard at a rate of 1.44 Shillings per gold Crown of 1892; effective 01.01.1925
• 28.01.1925
• Start of currency exchange:
  - 28.01.1925: Start of issuance of the new banknotes and coins
  - 29.04.1926: Demonetization of the former currency.

Valuation Regimes

• 1925-1931
• Fixed rate against gold without circulating gold coins
• 1931-1934
• Exchange restrictions and variable rate around the former fixing against major currencies
• 1934-1938
• Fixed rate against gold without circulating gold coins

Timeline

• 17.03.1938
• Law [No. 9] on the introduction of the German Reichsmark additional legal tender at a rate of 1 Reichsmark = 1.50 Austrian Shillings; effective immediately
• 17.03.1938
• Law [No. 10] on the liquidation of the Austrian National Bank and the take over of the business by the German Reichsbank; effective immediately
• 23.04.1938
• Ordinance [No. 89] on the sole legal tender status of the German Reichsmark sole legal tender and withdrawal of the Austrian paper money until 15.05.1938 (subsidiary coins remained tolerated); effective 25.04.1938

Timeline

• May 1945
• Issuance of paper money denominated in Shilling by the Allied military authorities (referred to as "Military Shilling") at a rate of 1 "Military Shilling" = 1 Reichsmark = 0.1 US Dollar = 0.5 Soviet Ruble
• 03.07.1945
• Law [No. 45, "Notenbank-Überleitungsgesetz"] on the provisional reconstitution of the Austria National Bank; effective immediately
• 30.11.1945
• Law [No. 231] on the restoration of the Shilling as Austrian currency; effective 21.12.1945
• 13.12.1945
• Start of currency exchange:
  - 13.12.1945: Start of issuance of provisional paper money
  - Partial confiscation: per person, a maximum of 150 German Reichsmark were exchanged on par, excess amounts transformed into a forced loan on blocked accounts (liquidated without compensation by end of 1947); the Allied military notes were exchanged without limit.
  - 20.12.1945: End of exchange period and demonetization of the former paper money (subsidiary coins and low-denomination Allied paper money remained tolerated).
• 19.11.1947
• Law [No. 250, "Währungsschutzgesetz"] on the exchange of the circulating paper money; effective 04.12.1947
• 10.12.1947
• Start of currency exchange:
  - 10.12.1947: Start of issuance of new banknotes
  - Partial confiscation: per person, a maximum of 150 Shillings was exchanged on par, excess amounts were exchanged at a rate of 1 : 3
  - 24.12.1947: End of exchange period and demonetization of the former paper money (low-denomination subsidiary coins remained tolerated).
• 08.09.1955
• Law [No. 184, "Nationalbankgesetz"] on the (definitive) constitution of the Austrian National Bank; effective immediately

Valuation Regimes

• 1945-1953
• Fixed rate against US Dollar, special rates for certain goods beside official
• 1953-1973
• Fixed official rate against IMF gold parity
• 1973-1998
• Variable rate

Timeline

• 03.05.1998
• Resolution of the European Council [No. 98/317/EC] on the admission of eleven member states to the European Monetary Union; effective 01.01.1999
• 31.12.1998
• Ordinance of the European Council [No. 2866/98] on the irrevocable conversion rates between the Euro and the former currencies; effective 01.01.1999
• 01.01.1999
• Introduction of the European Euro as a unit of account, while retaining the national banknotes and coins at a rate of 1 Euro = 13.7603 Austrian Shillings
  - 01.01.2002: Start of issuance of banknotes and coins denominated in Euro
  - 28.02.2002: Demonetization of the banknotes and coins in Austrian Shilling.