European System of Central Banks | English | Dictionary & Translation by Babylon

European System of Central Banks

The European System of Central Banks (ESCB) is composed of the European Central Bank (ECB) and the national central banks (NCBs) of all 27 European Union (EU) Member States.
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European System of Central Banks (ESCB)

Refers to the ECB and the national central banks of the EU Member States. It should be noted that national central banks of Member States which have not yet adopted the single currency in accordance with the Treaty retain their powers in the field of monetary policy according to national law and are thus not involved in the conduct of the monetary policy of the Eurosystem.

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