European System of Central Banks (ESCB)
Système européen des banques centrales (SEBC)
Search Open Yearbook
This information is part of the Open Yearbook, a free service of UIA's subscription-based Yearbook of International Organizations (YBIO). It includes profiles of non-profit organizations working worldwide in all fields of activity. The information contained in the profiles and search functionality of this free service are limited.
The full-featured Yearbook of International Organizations (YBIO) includes over 72,500 organization profiles, additional information in the profiles, sophisticated search functionality and data export. For more information about YBIO, please click here or contact us.
The UIA is a leading provider of information about international non-profit organizations. The aim of the Open Yearbook is to promote the activities of international non-governmental organizations (INGOs) and intergovernmental organizations (IGOs).
Contact Details
URL: http://www.ecb.europa.eu/
URL: https://www.ecb.europa.eu/ecb/orga/escb/html/index.en.html
Founded
1998-06-01
History
Established as an integral part of F-XF2147 - European Union (EU). Establishment was envisaged in the T-XT9113 - Treaty on European Union (Maastricht Treaty), 7 Feb 1992, together with that of the European Central Bank, under the 3rd stage of F-XF4335 - European Economic and Monetary Union (EMU). The H-XE7137 - Committee of Governors of the Central Banks of the Member States of the European Economic Community was closely involved in drawing up the ESCB statute, which is laid down in a protocol to the Maastricht Treaty. H-XF2874 - European Monetary Institute (EMI), set up 1 Jan 1994, under the second stage of EMU, prepared the regulatory, organizational and logistic framework necessary for the ESCB to perform its tasks; its work was completed 31 May 1998 and succeeded on 1 Jun 1998 by establishment of ECB and ESCB. The 3rd stage of EMU was launched following decision of E-XE3068 - Council of the European Union, that the majority of member states had met convergence criteria and fulfilled conditions for adoption of a single currency. This 3rd stage commenced on 1 Jan 1999, with the irrevocable fixing of the exchange rates of the currencies of the participating Member States and when the new European currency - the 'euro' - became effective, and was finalized on 31 Dec 2001. From 1 Jan 2002, banks of countries of the Euro Area (Eurosystem) issue only euro notes and coins. Legal framework for the single monetary policy is the T-XT5765 - Treaty on the Functioning of the European Union (TFEU) and the Statute of the European System of Central Banks and of the European Central Bank.
Aims
Primary objective: maintain price stability. Without prejudice to objective price stability: support general economic policies in the European Community; act in accordance with the principle of an open market economy, with free competition, favouring efficient allocation of resources. Basic tasks: define and implement the monetary policy of the Community; conduct foreign exchange operations; hold and manage official foreign reserves of euro area Member States; promote smooth operation of payment systems; contribute to smooth conduct of policies pursued by the competent authorities relating to the prudential supervision of credit institutions and the stability of the financial system.
Structure
ESCB comprises E-XF2923 - European Central Bank (ECB) and the National Central Banks (NCBs) of European Union countries. Since the ESCB is an independent system, neither the ECB, nor a NCB, nor any member of their decision-making bodies, may seek or take instructions from any external body when performing ESCB-related tasks.
Languages
Available with paid subscription only.Relations with Inter-Governmental Organizations
Available with paid subscription only.Members
Available with paid subscription only.Type I Classification
Available with paid subscription only.Type II Classification
Available with paid subscription only.Subjects *
Available with paid subscription only.UN Sustainable Development Goals **
UIA Org ID
XF2712
Last News
2020
** UN SDGs are linked to the subject classification.
← return to your search page to find additional profiles.
UIA allows users to access and make use of the information contained in its Databases for the user’s internal use and evaluation purposes only. A user may not re-package, compile, re-distribute or re-use any or all of the UIA Databases or the data* contained therein without prior permission from the UIA.
Data from database resources may not be extracted or downloaded in bulk using automated scripts or other external software tools not provided within the database resources themselves. If your research project or use of a database resource will involve the extraction of large amounts of text or data from a database resource, please contact us for a customized solution.
UIA reserves the right to block access for abusive use of the Database.
* Data shall mean any data and information available in the Database including but not limited to: raw data, numbers, images, names and contact information, logos, text, keywords, and links.