European Central Bank operates as a central bank in Europe. The company engages in the definition and implementation of monetary policy for the euro area; conduct of foreign exchange operations; holding and management of the official foreign reserves of the euro area countries; and the promotion of the operation of payment systems. It is also involved in the authorization of issuance of banknotes; banknote counterfeiting and counterfeit deterrence; and banknote production and issuance activities. In addition, the company collects statistical information necessary for fulfilling the tasks from national authorities or directly from economic agents; supervises credit institutions and the stabil...
Eurotower (Main building)
Frankfurt am Main, 60311
Founded in 1998
49 69 13 44 0
49 69 13 44 60 00
European Central Bank Presents at 2013 Global Emerging Markets Spring Investor Conference, Apr-20-2013 01:15 PM
Apr 2 13
European Central Bank Presents at 2013 Global Emerging Markets Spring Investor Conference, Apr-20-2013 01:15 PM. Venue: Mandarin Oriental Hotel, 1330 Maryland Avenue, SW, Washington, District Of Columbia, United States. Speakers: Jörg Asmussen, Member of Executive Board and Member of Governing Council.
European Central Bank Announces Audited Earnings Results for the Year Ended December 31, 2012
Feb 22 13
European Central Bank announced audited earnings results for the year ended December 31, 2012. The company earned a surplus of EUR 2,164 million in 2012, compared with a surplus of EUR 1,894 million in 2011. The Governing Council decided to transfer as at December 31, 2012 an amount of EUR 1,166 million to the risk provision, which increased it to the level of its present ceiling of EUR 7,529 million. The purpose of the risk provision is to cover foreign exchange rate, interest rate, credit and gold price risks, which are monitored on an ongoing basis. The size of and the continuing requirement for this provision are reviewed annually. As a result of the transfer to the risk provision, the ECB's net profit for 2012 was EUR 998 million compared to EUR 728 million a year ago. Following a decision by the Governing Council, an interim profit distribution, amounting to EUR 575 million, was made to the euro area national central banks (NCBs) on January 31, 2013. The ECB's regular income derives mainly from investment earnings on its foreign reserve portfolio and own funds portfolio, from interest income on its 8% share of the total euro banknotes in circulation, and from net interest income arising from securities purchased for monetary policy purposes under the Securities Markets Programme (SMP) and the two covered bond purchase programmes. Net interest income totalled EUR 2,289 million in 2012 compared to EUR 99 million a year ago. It included interest income of EUR 633 million earned on the ECB's share of the total euro banknotes in circulation and net interest income of EUR 1,108 million arising from securities purchased under the SMP, of which EUR 555 million arose from the ECB's SMP holdings of Greek government bonds. It also included net interest income of EUR 209 million arising from securities purchased under the two covered bond purchase programmes.
European Central Bank Appoints Yves Mersch to Executive Board
Nov 23 12
European Central Bank (ECB) announced that EU leaders has appointed Yves Mersch to ECB executive board, for a term of eight years as from December 15. Mersch will replace Spaniard Jose Manuel Gonzalez-Paramo, who left the six-member board in May.