Eurosystem
E71361
The Eurosystem is the monetary authority of the euro area, comprising the European Central Bank and the national central banks of the EU countries that have adopted the euro, responsible for conducting the region’s monetary policy.
Aliases (2)
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
central banking system
→
monetary authority → |
| accountableTo |
European Parliament
→
|
| appliesTo |
euro area
→
|
| cooperatesWith |
Eurogroup
→
European Banking Authority → European Commission → |
| currencyManaged |
euro
→
|
| excludes |
national central banks of EU Member States that have not adopted the euro
→
|
| formedFrom |
national central banks of EU Member States adopting the euro
→
|
| governedBy |
Governing Council of the European Central Bank
→
|
| hasPart |
European Central Bank
→
national central banks of euro area countries → |
| headquartersCountry |
Germany
→
|
| headquartersLocation |
Frankfurt am Main
→
|
| independenceFrom |
European Union institutions and bodies
→
governments of the euro area Member States → |
| languageOfOperation |
English
→
|
| legalBasis |
Statute of the European System of Central Banks and of the European Central Bank
→
Treaty on the Functioning of the European Union → |
| mainResponsibility |
conducting foreign exchange operations
→
holding and managing the official foreign reserves of the euro area countries → maintaining price stability in the euro area → monetary policy in the euro area → promoting the smooth operation of payment systems → |
| memberOf |
European Union institutional framework
→
|
| monetaryPolicyStrategy |
inflation targeting
→
|
| objective |
contribute to financial stability
→
support the general economic policies in the Union → |
| operatesPaymentSystem |
TARGET2
→
TARGET2-Securities → |
| partOf |
European System of Central Banks
→
|
| policyInstrument |
minimum reserve requirements
→
open market operations → standing facilities → |
| priceStabilityDefinition |
2% inflation over the medium term
→
|
| publishes |
Annual Report
→
Macroeconomic projections for the euro area → monetary policy decisions → |
| replaced |
national monetary policies of participating Member States
→
|
| scope |
Member States that have adopted the euro
→
|
| startDate |
1999-01-01
→
|
| supervisoryRole |
supports the Single Supervisory Mechanism
→
|
| usesFramework |
operational framework for monetary policy implementation
→
|
| usesPolicyRate |
deposit facility rate
→
main refinancing operations rate → marginal lending facility rate → |
| website |
https://www.ecb.europa.eu/euro/system
→
|
Referenced by (13)
| Subject (surface form when different) | Predicate |
|---|---|
|
Banca d’Italia
→
De Nederlandsche Bank → Deutsche Bundesbank → National Bank of Slovakia → |
memberOf |
|
Euro
→
euro → |
managedBy |
|
Governing Council of the European Central Bank
→
|
belongsTo |
|
European System of Central Banks
("euro area national central banks")
→
|
composedOf |
|
European System of Central Banks
→
|
distinguishedFrom |
|
Euro
("national central banks of the euro area")
→
|
issuingAuthority |
|
European Union economic and monetary union
→
|
monetaryAuthority |
|
European Central Bank
→
|
partOf |
|
Annual Report of the European Central Bank
→
|
relatedTo |