The National Bank of Belgium (Dutch: Nationale Bank van België, French: Banque nationale de Belgique, German: Belgische Nationalbank) is the central bank of Belgium and a member of the European Central Bank. The National Bank of Belgium is formally a joint stock company with a total share capital of 400,000 shares, 200,000 of which are owned by the state. The president and trustee of the National Bank of Belgium are appointed by the King of Belgium. The National Bank of Belgium was established on May 5, 1850 and used to be the issuer of the Belgian franc.