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Since 1 January 1999 the European Central Bank (ECB) has been responsible for conducting monetary policy for the euro area - the world’s largest economy after the United States.

ECB Press Releases

Luis de Guindos: Integration and convergence: from the peseta to the euro

Remarks by Luis de Guindos, Vice-President of the European Central Bank, at an event in honour of the 40th anniversary of the Spanish constitution organised by the Spanish Ministry of Economy in MadridThis month marks 40 years since Spain began writing the most optimistic chapter of its history[1]. On 6 December 1978 the Spanish people did more than just vote in favour of a democratic country that would uphold the values of the rule of law and equality. Our support for the constitution also...

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Mario Draghi: Europe and the euro 20 years on

Speech by Mario Draghi, President of the ECB, at Laurea Honoris Causa in Economics by University of Sant'Anna, Pisa, 15 December 2018Next month, we will celebrate the 20th anniversary of the launch of the euro. The two decades in which the euro has existed have perhaps been exceptional. The first was the culmination of a 30-year upswing in the global financial cycle, while the second saw the worst economic and financial crisis since the 1930s. But, exceptional as they were, these two...

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Sabine Lautenschläger: The banking sector – where did we end up after all the reforms?

Opening statement by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, to panel 1 "After all the reforms: Where did we end up?" at the 6th Frankfurt Conference on Financial Market Policy: "European Financial Markets – Too Much Variety?" in Frankfurt, 14 December 2018It’s often said that in every crisis there is an opportunity. And in the case of the financial crisis, I think that regulators have seized that opportunity.The...

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Luis de Guindos: Redesigning Europe’s financial landscape

Speech by Luis de Guindos, Vice-President of the ECB, at the 6th Frankfurt Conference on Financial Market Policy, Frankfurt, 14 December 2018It is a pleasure to be here today.As you know, there is a long tradition of the ECB participating in SAFE conferences here in Frankfurt. The second conference in 2014 was already dedicated to “Banking beyond banks” acknowledging important changes underway in the European financial landscape.[1] Indeed, this was a prescient choice of topic given the...

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Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)

December 2018Market operationsAcceptance of the revised credit assessment system of the Banco de España for use within the Eurosystem Credit Assessment FrameworkOn 7 December 2018 the Governing Council decided to accept the in-house credit assessment system (ICAS) of the Banco de España for use within the Eurosystem Credit Assessment Framework (ECAF). The full list of ICASs, as well as more detailed information on the ECAF, is available on the ECB’s website.Market infrastructure and...

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Mario Draghi, Luis de Guindos: Introductory statement to the press conference (with Q&A)

Mario Draghi, President of the ECB,Luis de Guindos, Vice-President of the ECB,Frankfurt am Main, 13 December 2018INTRODUCTORY STATEMENTJump to the transcript of the questions and answersLadies and gentlemen, the Vice-President and I are very pleased to welcome you to our press conference. We will now report on the outcome of today’s meeting of the Governing Council, which was also attended by the President of the Eurogroup, Mr Centeno.Based on our regular economic and monetary analyses, we...

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Monetary policy decisions

PRESS RELEASE13 December 2018At today’s meeting the Governing Council of the European Central Bank (ECB) decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.40% respectively. The Governing Council expects the key ECB interest rates to remain at their present levels at least through the summer of 2019, and in any case for as long as necessary to ensure the...

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ECB decides on technical parameters for the reinvestment of its asset purchase programme

PRESS RELEASE13 December 2018ECB details technical parameters for APP reinvestmentsECB capital key, as amended over time, to continue guiding public sector purchase programme during reinvestment The Governing Council of the European Central Bank (ECB) today decided on the technical parameters for the reinvestment of the principal payments from maturing securities purchased under its asset purchase programme (APP) after net asset purchases cease at the end of December 2018.The Governing...

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Benoît Cœuré: Euro Cyber Resilience Board for pan-European Financial Infrastructures

Introductory remarks by Benoît Cœuré, Member of the Executive Board of the ECB, at the second meeting of the Euro Cyber Resilience Board for pan-European Financial Infrastructures, Frankfurt, 7 December 2018It is a pleasure to welcome you back to Frankfurt. Since our last meeting in March, we have been very busy at the ECB and across the Eurosystem, and we have made considerable progress in our work to enhance the cyber resilience of the financial sector.The cyber threat facing the financial...

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ECB adopts new capital key

PRESS RELEASE3 December 2018Five-yearly adjustment based on population and GDP data from European Commission16 national central banks to have higher share, 12 lower shareNo change in system of rotating voting rightsThe Governing Council of the European Central Bank (ECB) adopted legal acts on the regular five-yearly adjustment to its capital key and the contributions paid by the national central banks (NCBs) of the European Union. The new key for subscription to the ECB’s capital will enter...

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