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European Central Bank

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Eurotower
Kaiserstrae 29
DE-60311 Frankfurt am Main
Deutschland
Tel: +49 69 13 44 0
Fax: +49 69 13 44 60 00
Contact

The European Central Bank (ECB, based in Frankfurt, Germany) manages the euro the EU's single currency and safeguards price stability in the EU.
The ECB is also responsible for framing and implementing the EUs economic and monetary policy.

Purpose
The European Central Bank (ECB) is one of the EU institutions. Its main purpose is to:
keep prices stable (keep inflation under control), especially in countries that use the euro.
keep the financial system stable by making sure financial markets and institutions are properly supervised.
The Bank works with the central banks in all 27 EU countries. Together they form the European System of Central Banks (ESCB).
It also leads the close cooperation between central banks in the euro area the 17 EU countries that have adopted the euro, also known as the eurozone. The cooperation
between this smaller, tighter group of banks is referred to as the Eurosystem.

Tasks
The ECB's role includes:
setting key interest rates for the eurozone and controlling the money supply
managing the eurozone's foreign-currency reserves and buying or selling currencies when necessary to keep exchange rates in balance
helping to ensure financial markets and institutions are adequately supervised by national authorities, and that payment systems function smoothly
authorising central banks in eurozone countries to issue euro banknotes
monitoring price trends and assessing the risk they pose to price stability.
Full list of ECB tasks

Structure

The ECB has the following decision-making bodies:

Executive Board oversees day-to-day management. It has 6 members (1 president, 1 vice-president and 4 other members) appointed for 8 years by the leaders of the
eurozone countries.
Governing Council defines eurozone monetary policy and fixes the interest rates at which commercial banks can obtain money from the Bank. It consists of the
Executive Board plus the governors of the 17 national central banks in the eurozone.
General Council contributes to the ECB's advisory and coordination work and helps prepare for new countries joining the euro. It consists of the ECB president and
vice-president and the governors of the national central banks of all 27 EU countries.
The ECB is completely independent. Neither the ECB, the national central banks in the Eurosystem, nor any member of their decision-making bodies can ask for or accept
instructions from any other body. All EU institutions and governments must also respect this principle.

See also
Money and the EU
The euro
The European Central Bank homepage
Full list of addresses

Downloads
ECB history, role and functions

CONTACT
General informat ion enquiries
Call 00 800 6 7 8 9 10 11
E-mail y our questions

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Roles and tasks of the
European Central Bank

Popular links
Teaching materials from the European C entral Bank
Map of countries using the euro
Detailed information on the euro

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