Do you have any questions about the ECB and our work? Find answers to the most popular questions or send us your own. Do we need cash in a digital world? Our colleague Chiara explains how cash plays a key role in our society and what we do to ensure that you can access and use money anytime, anywhere. Kirsten Rohrs Schmitt is an accomplished professional editor, author, proofreader and fact-checker. She has expertise in finance, investment, real estate and world history. Over the course of her career, she has written and edited content for numerous consumer magazines and websites, created resumes and social media content for business owners, and created materials for colleges and nonprofits. Kirsten is also the founder and director of Your Best Edit; you can find them on LinkedIn and Facebook. What does the ECB do? What is inflation? Why is price stability important to you? Find answers to these questions and more in this three-minute introductory video. We identify and make recommendations to reduce risks that could unbalance the financial system, such as market turbulence or a sharp decline in property prices. It helps people like you and businesses plan and invest for the future with confidence. Learn more about TIPS, the new service coming in late 2018 that will make life easier for businesses and individuals.

The ECB`s asset purchase programmes support economic growth and help us achieve our inflation target. Learn how the programs work, the role of commercial banks, and how these measures affect businesses and consumers. An integrated market infrastructure in Europe means a single, efficient `sanitation system` that supports the market. Find out how citizens, businesses and investors benefit from the payment and securities settlement infrastructure. To ensure that even in turbulent times, people can access their bank accounts, businesses can make and receive payments, and investors can trade. A durable system can withstand shocks without major interference. We developed a framework for ethical hacking in 2018. What does that mean? Our colleague Emran explains what an ethical hacker does and how he helps test banks` resilience and weaknesses. The results of the ECB`s latest study on payment behaviour suggest that no single payment method currently meets all consumers` needs, writes Executive Board member Fabio Panetta on the ECB`s blog. This highlights the importance of continuing to give people the choice of how they want to pay.

Benoît Cœuré, member of the Board of Directors, visited the Vorwerk plant in Cloyes-sur-le-Loir, France. He told locals about how the ECB has made it more attractive for banks to lend to businesses. This means better conditions for businesses and contributes to the creation of more jobs. The ECB is also the EU institution responsible for banking supervision. Together with the supervisory authorities of the national central banks, it manages the Single Supervisory Mechanism (SSM). The main objectives of the relevant decisions are to ensure the safety and soundness of the European banking system. Part of the SSM`s raison d`être is to ensure consistent banking supervision practices across member countries` banking systems – lax supervision in some member states was partly responsible for the European financial crisis that began in 2008. The SSM became operational in November 2014. All euro area countries participate in the SSM and non-euro area EU countries can choose to join.

Our independence means that we must not be influenced by short-term political considerations. Instead, we focus on what is best for the economy in the medium term, so that euro area citizens can enjoy stability. We use a number of monetary policy instruments to maintain price stability. This, in turn, supports the economy, people`s incomes and job creation. Our tools include setting key interest rates for the economy, lending to banks to support the flow of credit to households and businesses, and asset purchases to improve financing conditions in all sectors of the economy. To learn more about what we do, check out our explanation. They explain important topics that will help you better understand the central bank. The Governing Council introduced a negative interest rate on the deposit facility on 5 June 2014. ECB President Mario Draghi explains what the interest rate decision means for eurozone savers. The European Central Bank was founded in 1999. The Governing Council of the ECB is the group that decides on changes to monetary policy.

The Council is composed of the six members of the Executive Board of the ECB and the governors of all the national central banks of the 19 euro area countries. As a central bank, the ECB does not like surprises. Therefore, whenever he plans to change interest rates, he will usually inform the market of an upcoming move through comments to the press. The Governing Council meets twice a month, but political decisions are usually taken only at meetings accompanied by a press conference, which take place every six weeks. Small and medium-sized enterprises are the backbone of the euro area economy. Find out how entrepreneurs and small business owners benefit from the single currency. Targeted longer-term refinancing operations encourage banks to provide affordable credit to individuals and businesses. This, in turn, supports spending and investment in the economy. Christine Lagarde explains how they work. What we do concerns you – the millions of people and businesses in the euro area – and in particular your decisions to save or invest, to borrow or to lend.

That is why we are trying to explain our actions to you, and we are legally accountable to your elected representatives in the European Parliament. Swap lines are part of our central bank`s toolbox. But what are they? And why do we use them? Our colleague, Mrs Ifère, explains why they are an important tool for safeguarding financial stability and can help ensure that market tensions do not affect the real economy. We put our money in the bank for safe storage. But what happens if someone hacks into the bank`s computers? Watch our video on how the ECB is helping the financial system stay safe by encouraging “ethical hacking”. Our banknotes have many fascinating features. The signature of the President of the ECB is a good example of this. Mr Sarai explains how the signature function helps to ensure confidence in the euro area`s single currency. How could “cryptocurrencies” affect banks and your money? How could the new technologies they run on, like blockchain, improve the way we make all payments? These are things that our innovation teams take care of. Have you ever wondered how our board members are appointed? The elected national representatives decide at European level who can join the Management Board for a non-renewable term of eight years. Find out who nominates candidates and how they are selected.

If you pay for your purchases electronically or transfer money digitally, we`re here to help. We manage and support the behind-the-scenes network – the market infrastructure – that helps ensure that money flows smoothly and efficiently within countries and across borders. The European Central Bank (ECB) manages the euro and shapes and implements the EU`s economic and monetary policy. Its main objective is to maintain price stability, thereby promoting economic growth and job creation. Have you been able to spot a counterfeit banknote? Together with the 19 national central banks, we recently introduced a new series of euro banknotes with up-to-date security features that make counterfeiting more difficult. Press conference of the Governing Council of the ECB – 10 September 2020 ECB Conference on Gender and Career Developments – 21. October 2019 To re-establish your access to the website, please enter the following characters exactly as they appear: The European Central Bank (ECB) is the central bank responsible for the monetary policy of the Member States of the European Union (EU) that have adopted the euro. This region is known as the euro area and currently has 19 members. The ECB`s main objective is to maintain price stability in the euro area and thus contribute to maintaining the purchasing power of the euro. Youth Dialogue with Christine Lagarde – 27 May 2020 She leads cooperation between central banks in the euro area.