How do central banks affect the world

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What are ACC Frames?

May 15, 2020

To ensure that banks have unrestricted access to central bank liquidity even under unfavorable conditions, the Eurosystem has made it possible for the national central banks to temporarily accept additional collateral in addition to the generally permitted assets. Here you can find out how it came about and what it is about.

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What is a last resort lender?

26th August 2019

When a bank runs out of funds, it turns to its lender of last resort. But who exactly is it and how can it help to stabilize the banking system in times of crisis? Here you can find out more about the emergency loans for banks.

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Everything you need to know about reference interest rates

11th July 2019

Reference interest rates play an important role in our economy. But what exactly is it that makes it so important? Why are they currently being reformed? And what is the € STR?
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What is economic underutilization?

18th July 2018

Underutilization is a long-running issue in discussions among business experts. But what exactly is underutilization? Why is it relevant to central banks and how is it measured?

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What is the European Central Bank?

June 1, 2018

Would you like to find out more about the activities of the ECB and what role it plays in your everyday life? Then take a look at the 20 facts that we have put together for you on the occasion of our 20th anniversary.
The ECB's hour of birth on June 1, 1998 also marked the start of preparations for the introduction of the new common currency, the euro.

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What requirements does a country have to meet in order to become part of the euro area?

23 May 2018

The euro has already been introduced in 19 of the 27 EU member states. But what does a country actually have to do to be allowed to join the monetary union?

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What is a deposit insurance scheme?

April 11, 2018

Banks pay into a security fund so that their customers' deposits are protected even in times of crisis. So far these systems have been located at the national level. But there are efforts to introduce a European system. But how does the deposit insurance actually work?

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What is excess liquidity?

December 28, 2017

Since the financial crisis there is more money - i. H. Liquidity - in the entire banking system than is actually necessary. But what exactly is excess liquidity? What can banks do with it and why does the ECB allow more liquidity than necessary?

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The euro area in comparison

August 25, 2017

340 million people live in the 19 countries in the euro area, and they are all united by a common currency. But how does this economic area compare to other major economies? What role does the euro area play in international trade and how does this affect its population?

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How does innovation drive growth?

June 27, 2017

Innovation is a key driver of economic growth and has a positive impact on consumers, businesses and the economy as a whole. But how does innovation work, how does it contribute to economic growth and how can it be promoted?

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A quick guide to macroprudential policies

May 24, 2017

The ECB publishes its financial stability report twice a year. Together with other authorities, it ensures the maintenance of financial stability through macroprudential measures. You'll find more about it here.

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Why is price stability important?

May 8, 2017

The primary objective of the ECB is to ensure price stability. This means that the inflation rate should be “below but close to 2% in the medium term”. Why not 4%? Or 0%? And what speaks against falling prices in principle? Here you find the answers.

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How a new technology could change the financial markets

19th April 2017

Distributed ledger technology and blockchains are at the center of the discussion about innovations in the financial markets. What is it about and why is the ECB dealing with it?

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Is the ECB making a profit?

February 16, 2017

Usually yes. In 2018, for example, it made a profit of € 1.6 billion. How this surplus is used is not widely known - nor is it that we can all benefit from it. How? You can find out here.

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Five things you should know about the Maastricht Treaty

15th February 2017

The Maastricht Treaty was signed on February 7, 1992 - 25 years ago. But what was it about? And how did he change Europe?

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Why is the ECB independent?

January 12, 2017

The political independence of the ECB is a cornerstone of the euro area monetary system. Find out why the ECB was set up as an independent body, how its independence is ensured and what it does to ensure its accountability.

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What is a stock lending?

December 8, 2016

The Eurosystem purchases large quantities of securities. In doing so, it counteracts the risk that inflation will be too low for too long a period. Large purchases can result in fewer securities being available in the market. Thanks to securities lending, the purchased stocks are still available to the market for transactions.

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What is a haircut?

3rd November 2016

Haircuts are designed to minimize the risks associated with lending. The Eurosystem uses haircuts whenever it lends money to commercial banks. But what exactly is it and how do haircuts work?

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Why are statistics important?

19th October 2016

Why are statistics important to the ECB and the people it works for - the citizens of the 19 countries that introduced the euro? You can find out more about this in this article.

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Why does the ECB do research?

September 28, 2016

For central banks, in-house research is more important than ever. Find out why we do research at the ECB, how this supports monetary policy and under which aspects we select the research topics.

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What are foreign exchange swaps?

September 27, 2016

Central banks around the world are linked through a network of foreign exchange swap agreements. But what exactly are forex swaps and how do they work?

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What are real-time payments?

26th September 2016

How can it be that processing an electronic payment still takes a day or more in the age of smartphones and instant messaging? We are working on the development of a Europe-wide real-time payment system that will process your payments in no time at all.

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What is the function of exchange rates?

June 28, 2016

Exchange rates affect our everyday lives in many ways, such as when we go on vacation outside the euro area, when we buy products made abroad or when we refuel. Exchange rates affect prices and growth. What does this mean for monetary policy?

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In focus: financial stability

May 24, 2016

A stable financial system can withstand shocks. But what does that mean in practice? And how does the ECB support financial stability?

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What is ANFA?

5th February 2016

ANFA stands for "Agreement on Net Financial Assets". This is an agreement on net financial assets between the national central banks (NCBs) of the euro area and the ECB. ANFA contains rules and limits for holdings of securities not held for monetary policy purposes, which are related to the national tasks of the Eurosystem NCBs.

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How does the ECB's asset purchase program work?

January 22, 2016

One year after the ECB launched its asset purchase program, the effect of the measure can be seen. You can find out here how the program works and what benefits it offers you.

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What is money

November 24, 2015

Euro notes and coins are money, but the balance in a bank account is money too. What exactly is money? How is it drawn and what role does the ECB play in this?

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What does AnaCredit stand for?

November 11, 2015

AnaCredit is a new database with detailed information on individual loans from banks in the euro area. The name stands for "Analytical Credit Datasets "(analytical credit data sets).

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Five facts you should know about the ECB

July 10, 2015

If you had to describe in a few words who the ECB is and what it does, what would you say? Here are five answers.

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What is true about the dispossessed saver thesis?

May 18, 2015

Is the ECB's low interest rate policy a kind of tax on savings? According to a new study, it is not the central bank interest rates that are decisive for savers in the medium to long term, but the economy.

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What is the Advanced Asset Purchase Program?

January 22, 2015

On January 22, 2015, the ECB announced an expanded asset purchase program. This gives it the opportunity to buy government bonds in addition to the existing programs of this type for private sector securities in order to counteract the risks of a prolonged period of low inflation.

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The rotation of voting rights in the Governing Council

December 1, 2014

There is a rotation system for the governors of the national central banks to vote in the Governing Council. You can find out why this system was introduced and how the decision-making process works with it here.

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The negative interest rate of the ECB

June 12, 2014

On June 5, 2014, the Governing Council decided on a negative interest rate for the deposit facility. How did this decision come about? And how does it affect citizens' savings?

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