The Governing Council decided on a comprehensive package of monetary policy measures: Longer-term refinancing operations Additional longer-term refinancing operations (LTROs) will be conducted, temporarily, to provide immediate liquidity support to the euro area financial system. Although the Governing Council does not see material signs of strains in money markets or liquidity shortages in the banking […]
ECB announces operational precautions linked to coronavirus
All non-essential travel by ECB Executive Board and staff members restricted until 20 April 2020 Conferences at the ECB postponed, with exception of monetary policy press conferences All non-essential visits including visitor group programme suspended The Executive Board of the European Central Bank (ECB) today announced a range of operational measures that it is taking […]
Statement by the President of the ECB about Covid-19
Statement by Christine Lagarde The coronavirus outbreak is a fast developing situation, which creates risks for the economic outlook and the functioning of financial markets. The ECB is closely monitoring developments and their implications for the economy, medium-term inflation and the transmission of our monetary policy. We stand ready to take appropriate and targeted measures, as […]
ECB Listens
Euro area citizens are invited to submit ideas and comments online “ECB Listens” event for civil society to take place in Brussels on 26 March Further Eurosystem listening events to follow, organised by national central banks The European Central Bank (ECB) and the 19 euro area national central banks, which together form the Eurosystem, are […]
Financial statements of the ECB for 2019
ECB profit increased by €0.8 billion to €2.4 billion in 2019 (2018: €1.6 billion) and is distributed in full to national central banks Net interest income on securities held for monetary policy purposes: €1.4 billion (2018: €1.2 billion) ECB’s Balance Sheet grew to €457 billion (2018: €447 billion) The European Central Bank’s (ECB’s) audited financial […]
ECB’s subscribed capital to remain steady after Bank of England leaves the European System of Central Banks
Total subscribed capital of the ECB to remain at €10.8 billion ECB to repay Bank of England’s share in its paid-up capital (€58 million) Bank of England’s share in ECB’s subscribed capital to be reallocated among remaining national central banks The European Central Bank (ECB) will keep its subscribed capital steady at €10.8 billion after […]
ECB welcomes ratification of agreement on orderly UK withdrawal from European Union
ECB regrets United Kingdom leaving European Union Central bank prepared for all contingencies, and monitoring financial market developments Banks now need to press ahead with implementation of Brexit plans The European Central Bank (ECB) expressed regret that the United Kingdom is leaving the European Union. However, the ECB welcomes the ratification of the agreement on […]
ECB launches review of its monetary policy strategy
The Governing Council of the European Central Bank (ECB) today launched a review of its monetary policy strategy. The monetary policy strategy was adopted in 1998 and some of its elements were clarified in 2003. Since 2003 the euro area and the world economy have been undergoing profound structural changes. Declining trend growth, on the […]
January 2020 euro area bank lending survey
Credit standards remained broadly unchanged for both loans to enterprises and housing loans Demand for loans to enterprises declined, while demand for housing loans increased further Euro area banks use TLTRO-III liquidity largely for granting loans Credit standards – i.e. banks’ internal guidelines or loan approval criteria – remained broadly unchanged for both loans to […]