50 Zlotys German occupation

The Bank Emisyjny w Polsce was a German-controlled institution established in April 1940 to replace the Bank Polski and manage currency in the occupied General Government territory. It was never a sovereign central bank in any meaningful sense — its function was to finance occupation costs and systematically drain Polish economic resources, largely through note issuance unbacked by genuine reserves.

The Staatsdruckerei in Vienna handled production, though the bank itself was headquartered in Kraków. Feliks Młynarski, one of the signatories here, was a pre-war economist of genuine standing — his presence on occupation-era notes remains a complicated footnote in Polish financial history.