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  • Speech
    Monetary policy and financial stability

    There is an inherent link between price stability and financial stability, says President Mario Draghi. As the euro area recovery is broadening, it is necessary to complete the banking union and to extend the macroprudential toolkit to non-bank financial institutions.

24 May 2017ACCOUNTABILITY

Hearing at European Parliament on 29 May

Mario Draghi, President of the ECB, speaks before the European Parliament’s Committee on Economic and Monetary Affairs and answers questions from its Members.

The quarterly hearing starts at 15:00 CET.

24 May 2017SPEECH

Europe’s recovery: challenges and opportunities for banks

While European banks still face challenges stemming from the financial crisis, the firming recovery presents opportunities for them, says Executive Board member Peter Praet. It is now essential to complete the banking union and for banks to move towards sustainable business models.

25/05/2017
Vítor Constâncio: The future of monetary policy frameworks
Lecture by Vítor Constâncio, Vice-President of the European Central Bank at the Instituto Superior de Economia e Gestão, Lisbon, 25 May 2017
24/05/2017
Mario Draghi: The interaction between monetary policy and financial stability in the euro area
Keynote speech by Mario Draghi, President of the ECB, at the First Conference on Financial Stability organised by the Banco de España and Centro de Estudios Monetarios y Financieros, Madrid, 24 May 2017
24/05/2017
Peter Praet: Europe’s economic recovery: challenges and opportunities for the banking sector
Remarks by Peter Praet, Member of the Executive Board of the ECB, at the Association of Banks in Bulgaria, Sofia, 24 May 2017
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19/05/2017
Vítor Constâncio: Synergies between banking union and capital markets union
Keynote speech by Vítor Constâncio, Vice-President of the ECB, at the joint conference of the European Commission and European Central Bank on European Financial Integration, Brussels, 19 May 2017
19/05/2017
Benoît Cœuré: Scars or scratches? Hysteresis in the euro area
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the International Center for Monetary and Banking Studies, Geneva, 19 May 2017

All speeches

23/05/2017
Benoît Cœuré: Interview with L’Obs
Interview with Benoît Cœuré, Member of the Executive Board of the ECB, conducted by Sophie Fay and Pascal Riché on 15 May, and published on 23 May 2017
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18/05/2017
Benoît Cœuré: Interview with Reuters
Interview with Benoît Cœuré, Member of the Executive Board of the ECB, conducted by Balasz Koranyi and Francesco Canepa, on 17 May 2017, published on 18 May 2017
11/05/2017
Peter Praet: Interview with Peter Praet for Trends/Tendances
Interview with Peter Praet, Member of the Executive Board of the ECB, conducted by Daan Killemaes and Jasper Vekeman on 4 May 2017 and published on 11 May 2017
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03/04/2017
Peter Praet: Interview with Expansión
Interview with Peter Praet, Member of the Executive Board of the ECB, conducted by Andres Stumpf Guirao on 27 March 2017 and published on 3 April 2017
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24/03/2017
Peter Praet: Interview with VDI Nachrichten
Interview with Peter Praet, Member of the Executive Board of the ECB, conducted by Sabine Seeger and published on 24 March 2017
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All interviews

22/05/2017
Opinion on limitations to cash payments (CON/2017/18)
Portugal, 
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18/05/2017
Opinion on the financial independence of Sveriges Riksbank (CON/2017/17)
Sweden, 
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12/05/2017
Opinion on judicial relief granted to holders of qualified bank credit (CON/2017/16)
Slovenia, 
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24/04/2017
Opinion on the Payment Services, Services of Issuing Electronic Money and Payment Systems Act (CON/2017/15)
Slovenia, 
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20/04/2017
Opinion on additional macroprudential tools (CON/2017/14)
Sweden, 
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All legal acts

25 May 2017PRESS RELEASE

Foreign Exchange Global Code of Conduct published

The ECB, together with the national central banks of all EU Member States, welcomes the publication of the Foreign Exchange Global Code of Conduct. The Code promotes a robust, fair, liquid, open and transparent foreign exchange (FX) market.

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.

EXPLAINER

A quick guide to macroprudential policies

Every six months the ECB publishes its Financial Stability Review. The ECB and other authorities ensure financial stability through macroprudential policies – find out the how, what and why.

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 1.1214
JPY Japanese yen 125.33
GBP Pound sterling 0.86528
CHF Swiss franc 1.0904
Last update: Thursday, 25 May 2017 Euro foreign exchange rates

Multimedia

  • Interview Vítor Constâncio on Financial Stability Review

  • EU Open Days - May 2017

  • ECB Press Conference - 27 April 2017

  • Generation €uro Students' Award 2017

  • The new €50 banknote is now in circulation

  • Journey of the new €50

  • Young Innovators share their views at the ECB

  • How quantitative easing works

  • 15 years of the euro

  • The new €50 banknote

  • Five facts about the new €50

  • Inside the Asset Purchase Programme

  • Discover the New €50 Banknote

  • ECB and the Eurosystem explained in 3 min.

  • 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