European Central Bank
Introduction
The European Central Bank (ECB) is the central bank for the euro area and is responsible for conducting monetary policy for the euro area.
The ECB is part of the European System of Central Banks, which also includes the national central banks of all EU member states, whether they have adopted the euro or not.
It is also part of the Eurosystem, along with the central banks of the countries from the euro area.
What does the European Central Bank do?
The ECB has the following functions:
- It maintains price stability in the euro area by setting interest rates
- It manages the euro area’s foreign currency reserves
- It manages the regulation of financial services by national central banks
- It authorises the production of euro banknotes by countries in the euro area
What does the ECB not do?
The ECB does not:
- Provide any financial services, such as loans or bank accounts, to individuals or corporate entities as it is not a commercial bank
- Have responsibility for consumer protection or anti-money laundering, as these are regulated by national laws
Sometimes fraudsters will misuse the ECB name and logo in an attempt to scam people out of money. The ECB does not provide commercial banking services and does not hold accounts for members of the public.
Further information
You can read more about the European Central Bank online.
You can submit queries to the ECB using the online information request form available on its website.