European Central Bank


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European Central Bank (ECB)

an independent financial institution established in 1998 to define and implement monetary policy for members of the EUROPEAN UNION (EU) that have adopted the euro as their common currency. The ECB and the national central banks of EU Member States together constitute the European System of Central Banks. Although all EU members participate in the system, countries (e.g. UK, Denmark and Sweden) that do not use the euro have no official role in formulating monetary policy for the euro zone.
References in periodicals archive ?
According to European Central Bank's data, funding from ECB to Cypriot banks rose in August 2013 to 1.58 billion Euros from 354 million Euros the previous months.
Thus, unanimous recommendations by the Basel Committee are superior to majority decisions of the European Central Bank.
Mario Draghi caused a powerful market sell-off at the end of the week, after his comments that the European Central Bank is facing opposition with Germany's Bundesbank, leaving the biggest economy in Europe in a difficult negotiating position.
Three letters from the then president of the European Central Bank, Jean-Claude Trichet, to the late Finance Minister Brian Lenihan culminated in an insistence that Ireland apply for a bailout or risk being cut off from support.
President of the European Central Bank Mario Draghi faces a challenge to stimulate a weakening eurozone economy
The European Central Bank said it was making it cheaper for banks to get US dollar liquidity when they need it, starting next Monday.
The joint move by the five including the European Central Bank, the Bank of England and the Swiss National Bank is apparently aimed at addressing possible dollar shortages faced by the European financial institutions amid the sovereign debt crisis in the region.
Italy's Mario Draghi has become a hot favourite to take over from Jean-Claude Trichet at the head of the European Central Bank (ECB) in October after Germany's Chancellor Angela Merkel finally gave him her backing.
A top European Central Bank (ECB) official has said that interest rate decisions at the central bank could be affected by the crisis in Japan.
Answering a question on the European Central Bank, Babacan said that Turkey respected the independence of the European Central Bank.
Summary: Portugal has denied that it is under pressure from most euro zone countries and the European Central Bank to seek a bailout.
BRUSSELS: A collapse of wage restraint in Germany would cause the European Central Bank problems in its fight against inflation, ECB Governing Council member Guy Quaden said yesterday.

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