Академический Документы
Профессиональный Документы
Культура Документы
Erika Reyes
Omar Torres
Source: https://www.ecb.europa.eu
The European Central Bank (ECB) is the central bank of the 19 European Union
countries which have adopted the euro. The mission is to maintain price stability in
the euro area and so preserve the purchasing power of the single currency.
The European Central Bank is responsible for the prudential supervision of credit
institutions located in the euro area and in the participating Member States outside
the euro area. In this way, it contributes to the security and soundness of the
banking system and to the stability of the financial system in the EU and in each
participating Member State.
The European Central Bank is composed by The Governing Council this one main
decision-making body of the ECB. It consists of: The six members of the Executive
Board, plus the governors of the national central banks of the 19 euro area
countries.
The ECB and the national central banks of the euro area carries out a number of
functions to maintain price stability, like those:
The Governing Council of the ECB sets three key interest rates:
The ECB’s foreign reserves ensure that the ECB has sufficient liquidity to conduct
foreign exchange operations if needed. The objectives for the management of the
ECB’s foreign reserves are, in order of importance: liquidity, security and returns.
The ECB provides payment and securities settlement facilities, operating a large-
value payment system in euro, as well as a mechanism allowing the cross-border
use of collateral.
By other side, the ECB establishes oversight policies and corresponding standards
for large-value payment systems, retail payment systems and payment
instruments, clearing systems, securities settlement systems and certain third-party
service providers. It also establishes business continuity requirements for market
infrastructures and coordinates implementation work.
Also, the ECB monitors and, where necessary, develops a stance on market
developments and legal initiatives affecting the oversight of infrastructures and
arrangements for payments, clearing and securities settlement. And acts as a
catalyst for change, promoting efficiency in payment systems and, in the field of
retail payments, migration to the Single Euro Payments Area. It also promotes an
efficient securities market by fostering the harmonization of market standards and
encouraging the removal of barriers to integration.