The European Central Bank was established on 1 June 1998 and is situated in Frankfurt am Main, Germany. It ensures that the tasks conferred upon the Eurosystem and the European System of Central Banks (ESCB) are implemented either through its own activities pursuant to the Statute of the ESCB and ECB or through the national central banks. The ESCB comprises the ECB and the national central banks of the member states.
www.ecb.int Member States that meet certain economic criteria and standards join this central bank. The bank creates and implements monetary policy and is responsible for the issuance of the EU's common currency – the Euro. Great Britain, Sweden, and Denmark have NOT adopted the Euro as their national currency. Back to Table of Contents
The European Central Bank (ECB) was set up in 1998, under the Treaty on European Union, and it is based in Frankfurt (Germany). Its job is to manage the euro â€“ the EUâ€™s single currency and the Governing Council of the ECB sets the key interest rates. The ECB is also responsible for framing and implementing the EUâ€™s economic and monetary policy. www.ecb.int
Bank created to monitor the monetary policy of the 11 countries that have converted to the Euro from their local currencies. The 11 countries are: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain.
The new Central Bank which took effect in 1998 as the successor of the European Monetary Institute with the purpose of monitoring monetary policy and the introduction of euro notes and coins in EMU. It will be the executive body of the European System of Central Banks.
See on: Wikipedia Investopedia The central bank responsible for the monetary system of the European Union (EU) and the euro currency. The bank was formed in Germany in Jun 1998 and works with the other national banks of each of the EU members to formulate monetary policy that helps maintain price stability in the European Union.