Organisation

The European System of Central Banks (ESCB)

European Central Bank 16 Banque centrale du

1 Nationale Bank van Belgi/ Luxembourg

Banque Nationale de Belgique 17 Magyar Nemzeti Bank

2 18 Bank entrali ta Malta/

(Bulgarian National Bank) Central Bank of Malta

3 esk nrodn banka 26 19 De Nederlandsche Bank

4 Danmarks Nationalbank 20 Oesterreichische Nationalbank

5 Deutsche Bundesbank 27 21 Narodowy Bank Polski

6 22 Banco de Portugal
6 Eesti Pank
4 14
7 Banc Ceannais na hireann/ 23 Banca Naional a Romniei
15
Central Bank of Ireland 28 24 Banka Slovenije
19
7 25 Nrodn banka Slovenska
8 Bank of Greece 1 21
9 Banco de Espaa 5 3 26 Suomen Pankki
16 25
20 Finlands Bank
10 Banque de France 17 23
10 24
11 Hrvatska narodna banka 11 27 Sveriges Riksbank
12 2 28 Bank of England
12 Banca dItalia
22 9 8
13 Central Bank of Cyprus
14 Latvijas Banka
18 13
15 Lietuvos bankas

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Organisation

The Eurosystem
European Central Bank 15 Oesterreichische Nationalbank
1 Nationale Bank van Belgi/ 16 Banco de Portugal
Banque Nationale de Belgique 17 Banka Slovenije
2 Deutsche Bundesbank 18 Nrodn banka Slovenska
3 Eesti Pank 19 Suomen Pankki Finlands Bank
19
4 Banc Ceannais na hireann/
Central Bank of Ireland
5 Bank of Greece
6 Banco de Espaa 3
7 Banque de France 10
8 Banca dItalia
11
9 Central Bank of Cyprus
4 14
10 Latvijas Banka
1
11 Lietuvos bankas
2
12 Banque centrale du Luxembourg 12 18
15
13 Bank entrali ta Malta/ 7
17
Central Bank of Malta
8
14 De Nederlandsche Bank

16 6
5

13 9

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Organisation

The NCBs as an integral part of the Eurosystem

Article 282 of the Treaty on the Functioning of the
European Union:

The European Central Bank, together with

the national central banks of the Member States
whose currency is the euro, which constitute
the Eurosystem, shall conduct
the monetary policy of the Union.

The Eurosystem

European National
Central central
Bank banks

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Organisation

The European Central Bank (ECB)

The ECB is located at three addresses:

Sonnemannstrasse 20, 60314 Frankfurt am Main (main building);
Taunustor 2, 60311 Frankfurt am Main;
Kaiserstrasse 29, 60311 Frankfurt am Main, Germany.

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Organisation

Organisational structure of the ECB

Executive Board

Mario Draghi Vtor Constncio Benot Cur Sabine Yves Mersch Peter Praet
President Vice-President Lautenschlger
of the ECB of the ECB

Administration (DG) Legal Services (DG)

Banknotes (D) Market Operations (DG)

Communications (DG) Market Infrastructure and Payments (DG)

Counsel to the Executive Board Micro-Prudential Supervision I

ECB Representation in Washington D.C. Micro-Prudential Supervision II
Economics (DG) Micro-Prudential Supervision III
ESRB Secretariat Micro-Prudential Supervision IV
Macro-Prudential Policy and Financial Stability (DG) Research (DG)
Human Resources, Budget & Organisation (DG) Risk Management (D)
Information Systems (DG) Secretariat (DG)
Internal Audit (D) Secretariat to the Supervisory Board
International & European Relations (DG)
Statistics (DG)

(DG) Directorate General

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(D) Directorate
Organisation

%
%
Key for subscription of the ECBs capital
Euro area national central banks (NCBs) %
Nationale Bank van Belgi/ 2.4778 % 1.9631 % Oesterreichische Nationalbank
Banque Nationale de Belgique 1.7434 % Banco de Portugal
Deutsche Bundesbank 17.9973 % 0.3455 % Banka Slovenije
Eesti Pank 0.1928 % 0.7725 % Nrodn banka Slovenska
Banc Ceannais na hireann/ 1.1607 % 1.2564 % Suomen Pankki
Central Bank of Ireland Finlands Bank
Bank of Greece 2.0332 %
Banco de Espaa 8.8409 % Non-euro area NCBs
Banque de France 14.1792 % 0.8590 %

Banca dItalia 12.3108 % (Bulgarian National Bank)

Central Bank of Cyprus 0.1513 % 1.6075 % esk nrodn banka

Latvijas Banka 0.2821 % 1.4873 % Danmarks Nationalbank

Lietuvos bankas 0.4132 % 0.6023 % Hrvatska narodna banka

Banque centrale 0.2030 % 1.3798 % Magyar Nemzeti Bank

du Luxembourg 5.1230 % Narodowy Bank Polski

Bank entrali ta Malta/ 0.0648 % 2.6024 % Banca Naional a Romniei

Central Bank of Malta 2.2729 % Sveriges Riksbank

De Nederlandsche Bank 4.0035 % 13.6743 % Bank of England

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Organisation

Independence

Article 130 of the Treaty on the Functioning of the European Union:

When exercising the powers and carrying out the tasks and duties
conferred upon them by the Treaties and the Statute of the ESCB and
of the ECB,

neither the ECB, nor a national central bank,

nor any member of their decision-making bodies

shall seek or take instructions from Union institutions, bodies, offices or

agencies, from any government of a Member State or from any other body.

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Accountability

Publications

Press conferences

Financial controls

Testimonies
before the European Parliament

Public speeches & interviews

Accounts of monetary policy discussions

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Tasks of the EUROSYSTEM (1/2)

Basic tasks of the ECB and the EUROSYSTEM

Exchange operations Monetary policy Payment systems Foreign reserves

To conduct To define and To promote the To hold and manage

foreign exchange implement smooth operation the official foreign
operations monetary policy of payment reserves of the
systems participating EU
Member States

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Organisation

Tasks of the EUROSYSTEM (2/2)

Other tasks of the ECB and the EUROSYSTEM

Collection and International

Advisory functions Issuance of banknotes
compilation of statistics cooperation

Contribution to
prudential supervision Banking supervision
and financial stability

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Organisation

Tasks of the ECB (1/2)

Monetary
Eurosystem Guidelines/ Forex Payment
policy Banknotes
policies instructions markets systems
operations

Conferred Strategic planning, Operation

by Treaty coordination and of systems
harmonisation

Definition Deciding, Delegated Intervention Oversight of

coordinating and by EU Council (sometimes financial market
monitoring jointly with infrastructures
individual NCBs) and payment
Monitoring instruments

Foster integration
of financial market
infrastructures and
payment services

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Organisation

Tasks of the ECB (2/2)

Operational
Financial Advisory ECBs foreign
Cooperation Reporting hub for ESCB
risks function reserve assets
systems

International Statutory Community IT systems

and European reports institutions
cooperation
Benchmarks for
Monitoring National management by
authorities the NCBs

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Tasks of the NCBs

Article 12.1 ESCB Statute:

To the extent deemed possible and appropriatethe ECB shall have recourse to
the national central banks to carry out operations which form part of the tasks of the
ESCB [Eurosystem].

Collection of
Monetary policy Foreign reserves Payment systems Banknotes
statistics

Execution of Management Operation Management and Assistance

monetary policy of systems supervision of to ECB
operations cash operations

Own ECB Oversight of financial

market infrastructures
and payment instruments

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Organisation

Decision-making at the ECB

The Governing Council is the 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 Executive Board consists of the President of the ECB, the Vice-President and
four other members.

General Council
The General Council comprises the President of the ECB, the Vice-President and
the governors of the national central banks (NCBs) of the 28 EU Member States.

The Supervisory Board comprises a Chair, a Vice-Chair, four ECB

representatives and representatives of national supervisors.

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Organisation

Governing Council

Adopts guidelines and

decisions to ensure the
tasks of the Eurosystem
are performed

Formulates
monetary policy
Key ECB
Governing interest
Council rates Genera Council
Liquidity

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Organisation

Executive Board
Implements the monetary policy of the
ECB

Prepares meetings of the Governing

Council Mario Draghi
President of the ECB
Vtor Constncio
Vice-President of the ECB

Conducts the day-to-day business

of the ECB
Governing Council

Benot Cur Sabine Lautenschlger

Yves Mersch Peter Praet

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Organisation

General Council

Reports on convergence

Contributes to
the advisory functions of the
ECB
the collection of statistical
data
Governing Council
the reporting activities of the
ECB
the laying-down of the New picture
conditions of employment of
the staff of the ECB

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Organisation

Supervisory Board

Plans and carries out

the ECBs supervisory tasks
Proposes complete draft decisions to Danile Nouy Sabine Lautenschlger
Chair Vice-Chair
the Governing Council

In addition to the six members shown here,

the Supervisory
Governing Council Board includes
representatives from national supervisors.
Ignazio Angeloni Luc Coene
ECB representative ECB representative

Julie Dickson Sirkka Hmlinen

ECB representative ECB representative

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Organisation
EUROSYSTEM/ESCB Committees
Accounting and Monetary Income Committee (AMICO)
Banknote Committee (BANCO)
Committee on Controlling (COMCO)
Eurosystem/ESCB Communications Committee (ECCO)
Eurosystem IT Steering Committee (EISC)
Financial Stability Committee (FSC)
Information Technology Committee (ITC)
Internal Auditors Committee (IAC)
International Relations Committee (IRC)
19
Legal Committee (LEGCO)
Market Operations Committee (MOC)
Monetary Policy Committee (MPC)
Organisational Development Committee (ODC)
Payment and Settlement Systems Committee (PSSC)
Risk Management Committee (RMC)
Statistics Committee (STC)
Budget Committee (BUCOM)
Human Resources Conference (HRC)
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