content here is the anonymously transparent proxied version of ecb.europa.eu   X
  • Event
    Follow us at Sibos 2017

    We are attending the financial services conference Sibos, in Toronto, Canada, from 16 to 19 October. Keep an eye on our market infrastructure and payments news page and follow us on Twitter and LinkedIn for some upcoming announcements. If you’re at the conference, come and meet us at Stand K25.

16 October 2017EVENT

Join the #TIPSapp Challenge!

Could you design an app that makes instant payments available to everyone across Europe? Submit your idea by 1 December and you could be invited to the ECB to present your prototype.

17 October 2017CONFERENCE

On financial stability in the euro area

Financial stability in the euro area has improved and the financial system is more resilient, says Vice-President Vítor Constâncio. To safeguard financial stability in the future, European legislators must provide macroprudential authorities, particularly central banks, with an expanded toolkit.

17/10/2017
Vítor Constâncio: The evolving risk landscape in the euro area
Speech by Vítor Constâncio, Vice-President of the ECB, at the Banco de Portugal Conference on Financial Stability, Lisbon, 17 October 2017
16/10/2017
Sabine Lautenschläger: Dealing with a globalised banking sector
Statement by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at George Washington University Law School, Washington D.C., 16 October 2017
15/10/2017
Vítor Constâncio: Growth in a more resilient Euro area
Remarks by Vítor Constâncio, Vice-President of the European Central Bank, on a panel entitled “The Global Economy: Prospects for Broad-Based Growth” at the 32nd Annual G30 International Banking Seminar, Washington D.C., 15 October 2017
14/10/2017
Sabine Lautenschläger: Is small beautiful? Supervision, regulation and the size of banks
Statement by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at an IMF seminar, Washington D.C., 14 October 2017
13/10/2017
Sabine Lautenschläger: State of play in the European banking sector
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, IIF Annual Meeting, Washington D.C., 13 October 2017

All speeches

28/09/2017
Peter Praet: Interview with Les Echos
Interview with Peter Praet, Member of the Executive Board of the ECB, conducted by Isabelle Couet and Catherine Chatignoux on 25 September and published on 29 September 2017
ENGLISH
OTHER LANGUAGES (1) +
Select your language
20/09/2017
Vítor Constâncio: Interview with Euronews
Interview with Vítor Constâncio, Vice-President of the ECB, conducted by Efthymia Koutsokosta on 15 September and published on 20 September
16/09/2017
Peter Praet: Interview with De Tijd
Interview Peter Praet, Member of the Executive Board of the ECB, conducted by Wouter Vervenne and Bart Haeck on 13 September and published on 16 September 2017
ENGLISH
OTHER LANGUAGES (1) +
Select your language
12/09/2017
Benoît Cœuré: Europe’s moment
Opinion piece by Benoît Cœuré, Member of the Executive Board of the ECB, published by Börsen-Zeitung, 12 September 2017
ENGLISH
OTHER LANGUAGES (1) +
Select your language
01/09/2017
Yves Mersch: The role of cash: Customer retention and tie to the citizen
Contribution by Yves Mersch, Member of the Executive Board of the ECB, 1 September 2017

All interviews

13/10/2017
Letter from the ECB President to Mr Tajani, President of the European Parliament, regarding the draft addendum to the ECB Guidance to banks on non-performing loans
13/10/2017
Letter from Danièle Nouy, Chair of the Supervisory Board, to Mr Tajani, President of the European Parliament, regarding the draft addendum to the ECB Guidance to banks on non-performing loans
13/10/2017
Occasional paper no. 198: Large net foreign liabilities of euro area countries
12/10/2017
Working paper no. 2105: Monetary policy and bank profitability in a low interest rate environment
11/10/2017
The Crisis, Ten Years After: Lessons Learnt for Monetary and Financial Research
ENGLISH
OTHER LANGUAGES (1) +
Select your language
11/10/2017
Working paper no. 2104: Do we want these two to tango? On zombie firms and stressed banks in Europe
11/10/2017
Working paper no. 2103: Asymmetric wage adjustment and employment in European firms
10/10/2017
User guide on the Eurosystem consolidated weekly financial statement
10/10/2017
Letter from the ECB President to Mr Ernest Urtasun, Mr Sven Giegold, Ms Molly Scott Cato, Mr Michel Reimon, Mr Bas Eickhout, MEPs, on climate change
10/10/2017
Letter from the ECB President to Mr Nikolaos Chountis, MEP, on the Greek adjustment programme
ENGLISH
OTHER LANGUAGES (1) +
Select your language

All publications

11/10/2017
Opinion on a proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 648/2012 as regards the clearing obligation, the suspension of the clearing obligation, the reporting requirements, the risk-mitigation techniques for OTC derivatives contracts not cleared by a central counterparty, the registration and supervision of trade repositories and the requirements for trade repositories (CON/2017/42)
09/10/2017
Opinion on judicial relief granted to holders of qualified bank credit (CON/2017/41)
Slovenia, 
ENGLISH
OTHER LANGUAGES (1) +
Select your language
06/10/2017
Opinion on limitations to cash payments (CON/2017/40)
Cyprus, 
ENGLISH
OTHER LANGUAGES (1) +
Select your language
04/10/2017
Opinion on a proposal for a regulation of the European Parliament and of the Council amending Regulation (EU) No 1095/2010 and Regulation (EU) No 648/2012 with regard to the procedures and authorities involved for the authorisation of central counterparties and the recognition of third country central counterparties (CON/2017/39)
26/09/2017
Guideline of the ECB of 22 September 2017 amending Guideline ECB/2012/27 on a Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET2) (ECB/2017/28)

All legal acts

5 October 2017EDUCATIONAL

G€SA competition open to students

How does the work of a central bank impact the economy? Students across Europe can sign up in teams for the latest Generation €uro Students’ Award competition. They can learn more about monetary policy and perhaps even travel to Frankfurt for an award event with the President of the ECB.

INSERTED BY ANOMYOUS PROXY

Civil war declaration

On April 14th and 15th, 2012 Federal Republic of Germany "_urkenstaats"s parliament, Deutscher Bundestag, received a antifiscal written civil war declaration by Federal Republic of Germany "Rechtsstaat"s electronic resistance for human rights even though the "Widerstandsfall" according to article 20 paragraph 4 of the constitution, the "Grundgesetz", had been already declared in the years 2001-03.

EXPLAINERS

Why are interest rates low?

Find out why low interest rates are needed to keep prices stable.

Interest rates

Marginal lending facility 0.25 %
Main refinancing operations (fixed rate) 0.00 %
Deposit facility − 0.40 %
Effective from 16 March 2016

Inflation rates

Full inflation chart
Inflation dashboard

Reference rates

USD US dollar 1.1803
JPY Japanese yen 131.99
GBP Pound sterling 0.88753
CHF Swiss franc 1.1514
Last update: Monday, 16 October 2017 Euro foreign exchange rates

Multimedia

  • #ECBYouthDialogue - Dublin, Ireland

  • Highlights ECB Forum on Central Banking 2017

  • #ECBYouthDialogue - Lisbon 2017

  • Breaking internal barriers for women | Celia de Anca - 12 June 2017

  • Why we need more diversity to solve complex problems | Scott Page - 12 June 2017

  • Interview Vítor Constâncio on Financial Stability Review

  • EU Open Days - May 2017

  • Generation €uro Students' Award 2017

  • The new €50 banknote is now in circulation

  • How quantitative easing works

  • 15 years of the euro

  • Five facts about the new €50

  • Inside the Asset Purchase Programme

  • Discover the New €50 Banknote

  • ECB and the Eurosystem explained in 3 min.

  • Inauguration ECB Visitor Centre – 4 October 2017

  • Sendung mit der Maus - 3 October 2017

  • #ECBYouthDialogue, Dublin - 22 September 2017

  • Opening of the Cyprus Contemporary Art Exhibition - 20 September 2017

  • ECB Press Conference - 7 September 2017

  • ECB Press Conference - 20 July 2017

  • #ECBYouthDialogue - 26 June 2017, Lisbon, Portugal

  • ECB Forum on Central Banking - Sintra, Portugal, 26-28 June 2017

  • ECB Press Conference - 8 June 2017, Tallinn

  • EU Open Day in Brussels - 6 May 2017

  • ECB Open Day for women in technical fields - 04 May 2017

  • ECB Press Conference - 27 April 2017

  • The new €50 banknote - 4 April 2017

  • Generation Euro Students' Award - 4/5 April 2017

  • Europe's digital integrated market - 31 January 2017

  • 25 November 2016 UN Orange Day

  • 17 October 2016 Cultural Days Opening Concert

  • 3 October 2016 Türen Auf!

  • Unveiling of the new €50 banknote

  • Young Economists at ECB Forum on Central Banking

  • ECB Main Building

  • Luminale 2016 - ECB's illuminated buildings

  • Financial integration in Europe - cover image

    Financial integration in Europe

  • ESCB Legal Conference 2016 - cover image

    ESCB Legal Conference 2016

  • The international role of the euro, June 2016 - cover image

    The international role of the euro, June 2016

  • Conference proceedings of the ECB Forum on Central Banking, Sintra 2016: The Future of the international monetary and financial architecture - cover image

    Conference proceedings of the ECB Forum on Central Banking, Sintra 2016: The Future of the international monetary and financial architecture

  • Legal framework of the Eurosystem and the European System of Central Banks. ECB legal acts and instruments - cover image

    Legal framework of the Eurosystem and the European System of Central Banks. ECB legal acts and instruments

  • Statistics for Economic and Monetary Union. Enhancements and new directions, 2003-12, by Peter Bull - cover image

    Statistics for Economic and Monetary Union. Enhancements and new directions, 2003-12, by Peter Bull

  • The monetary policy of the ECB - cover image

    The monetary policy of the ECB

  • The payment system – payments, securities and derivatives, and the role of the Eurosystem in this field - cover image

    The payment system – payments, securities and derivatives, and the role of the Eurosystem in this field