Official Notice of the Czech National Bank of 29 June 2026 on the Issuance of the Common Terms and Conditions of CNB Bills

1. The Czech National Bank, pursuant to Section 26(2) of Act No. 190/2004 Coll., on Bonds, as amended by subsequent regulations, issues the Common Terms and Conditions of Bills of the Czech National Bank.

2. Bills issued on or before 30 June 2026 shall be governed by the existing terms and conditions of issue.

3. The Official Notice of the Czech National Bank No. 2/2019 of 8 February 2019 on the Issuance of the Common Terms and Conditions of CNB Bills, published in the Bulletin of the Czech National Bank No. 2/2019, shall cease to be effective on 30 June 2026.

4. This Official Notice shall be applied from the date of its publication.

Deputy Governor:
doc. Ing. Eva Zamrazilová, CSc. (signature)

Attachment: Common Terms and Conditions of CNB Bills Banking Operations Section

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Attachment

Common Terms and Conditions of CNB Bills

1. Issuer: Czech National Bank, Na Příkopě 28, 115 03 Prague 1, ID No. 48136450

2. Name: Bill of the Czech National Bank

3. Bills of the Czech National Bank (hereinafter referred to as "CNB Bills") are discount bonds payable to bearer, issued as book-entry securities. CNB Bills are recorded in the relevant central register of book-entry securities maintained by an authorized person in accordance with the legal order of the Czech Republic.

4. The yield of CNB Bills is determined as the difference between the nominal value and the issue price. The calculation of the yield to maturity is based on a year of 360 days and the actual number of calendar days (act/360).

5. Income from CNB Bills is subject to taxation in accordance with the legal regulations of the Czech Republic.

6. The Issuer will not apply for the admission of CNB Bills to a regulated market.

7. CNB Bills are direct, unconditional, and unsubordinated obligations of the Issuer, ranking pari passu with all other existing and future direct, unconditional, and unsubordinated obligations of the Issuer.

8. The primary sale of CNB Bills is conducted in the form of a (direct) sale of the entire volume of the issue into the portfolio of the Czech National Bank.

9. The subscription period for the issue of CNB Bills is the period from the issue date to the working day immediately preceding the maturity date of the issue.

10. The Issuer undertakes to pay the nominal value of CNB Bills to their owners on the specified maturity date. The place of payment is the Czech National Bank.

11. If the maturity date falls on a day that is not a working day, payment shall be made on the following working day without entitlement to interest or other compensation for the deferral of payment. A working day is understood as a day when banks in Prague are open for regular trading and all relevant parts of the interbank payment system are functional to the extent that payment can be made.

12. Rights and obligations arising from CNB Bills shall be governed by the legal order of the Czech Republic.

13. Rights arising from CNB Bills shall become time-barred upon the expiration of ten years from the day on which they could first be asserted.

14. These Common Terms and Conditions may be translated into foreign languages. In the event of a discrepancy between different language versions of the terms and conditions, the Czech version shall prevail.

15. The Issuer shall publish the data pursuant to Section 6(1)(d), (f), and (j) and Section 9(1)(e) and Section 9(2)(g) of Act No. 190/2004 Coll., on Bonds, as amended by subsequent regulations, for individual issues of CNB Bills in a manner enabling remote access.

16. These Common Terms and Conditions shall enter into force on 1 July 2026 and shall apply to CNB Bills issued after this date.