ECB: European Central Bank home page

Key figures at a glance
Marginal lending facility	0.30 %
Main refinancing operations (fixed rate)	0.05 %
Deposit facility	− 0.20 %
Effective from 10 September 2014
Why has the ECB introduced a negative interest rate?

How do voting rights rotate on the ECB Governing Council?

The accession of Lithuania to the euro area on 1 January 2015 triggered a system under which National Central Bank Governors take turns holding voting rights on the Governing Council.

In this text, the ECB answers some frequently asked questions on how the system works and why it exists.

22/12/2014 Interview: Vítor Constâncio: Interview with Wirtschaftswoche, de . en
22/12/2014 Press release: ECB publishes revised Ethics Framework and new Code of Conduct for Supervisory Board members to reflect supervisory tasks, en
19/12/2014 Speech: Vítor Constâncio: Where to from here?, en
19/12/2014 Opinion piece: Peter Praet: Is the ECB doing enough?, en
19/12/2014 Other decisions: Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates), bg . cs . da . de . el . en . es . et . fi . fr . hr . hu . it . lt . lv . mt . nl . pl . pt . ro . sk . sl . sv

30/12/2014 - Statistical press release: Monetary developments in the euro area, 84 kB, en

22/12/2014 Publication: Letter from Danièle Nouy, Chair of the Supervisory Board, to Mr Brian Hayes, Member of the European Parliament, on a follow-up to the comprehensive assessment

ENGLISH

OTHERS - - ENGLISH
19/12/2014 Publication: Letter from Jean-Claude Trichet, President of the ECB, and Mr. Fernandez-Ordonez to Mr. Zapatero, Prime Minister of Spain, on 5 August 2011

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OTHERS - - ENGLISH
19/12/2014 Publication: Reply from Mr. Zapatero, Prime Minister of Spain to Jean-Claude Trichet, President of the ECB, on 6 August 2011

ENGLISH

OTHER LANGUAGES 1
ESPAÑOL

OTHERS - 1 - ENGLISH
19/12/2014 Working paper no. 1756: The coevolution of money markets and monetary policy, 1815-2008, by Clemens Jobst, Stefano Ugolini

ENGLISH

SCPWPS - - ENGLISH
19/12/2014 Working paper no. 1755: Fragmentation in the euro overnight unsecured money market, by Peter Hoffmann, Simone Manganelli, et al.

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SCPWPS - - ENGLISH
18/12/2014 Publication: Letter from Danièle Nouy, Chair of the Supervisory Board, to Mr Sven Giegold, Member of the European Parliament

ENGLISH

OTHERS - - ENGLISH
18/12/2014 Working paper no. 1754: New evidence on elementary index bias, by Enikö Gábor, Philip Vermeulen

ENGLISH

SCPWPS - - ENGLISH
18/12/2014 Working paper no. 1753: MRO bidding in the presence of LTROs: an empirical analysis of the pre-crisis period, by Edgar Vogel

ENGLISH

SCPWPS - - ENGLISH
17/12/2014 Working paper no. 1752: How do exporters react to changes in cost competitiveness?, by Stefaan Decramer, Catherine Fuss, et al.

ENGLISH

SCPWPS - - ENGLISH
17/12/2014 Working paper no. 1751: Competition in the Portuguese economy: estimated price-cost margins under imperfect labour markets, by João Amador, Ana Cristina Soares

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SCPWPS - - ENGLISH
17/12/2014 Publication: Letter from the ECB President to Mr Fabio De Masi, MEP, on the ABSPP

ENGLISH

OTHER LANGUAGES 1
DEUTSCH

OTHERS - 1 - ENGLISH
17/12/2014 Publication: Letter from the ECB President to Mr Kostas Chrysogonos, MEP, on adjustment programmes

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OTHER LANGUAGES 1
EΛΛΗΝΙΚΆ

OTHERS - 1 - ENGLISH
17/12/2014 Publication: Letter from the ECB President to Mr Kostas Chrysogonos, MEP, on the ABSPP and CBPP3

ENGLISH

OTHER LANGUAGES 1
EΛΛΗΝΙΚΆ

OTHERS - 1 - ENGLISH
16/12/2014 Working paper no. 1750: How do financial institutions forecast sovereign spreads?, by Jacopo Cimadomo, Peter Claeys, et al.

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SCPWPS - - ENGLISH
16/12/2014 Working paper no. 1749: Linking distress of financial institutions to macrofinancial shocks, by Alexander Al-Haschimi, Stéphane Dées, et al.

ENGLISH

SCPWPS - - ENGLISH

22/12/2014: Decision of the ECB of 17 December 2014 concerning the establishment of an Ethics Committee and its Rules of Procedure (ECB/2014/59)
ENGLISH

19/12/2014: Decision of the ECB of 11 December 2014 on the approval of the volume of coin issuance in 2015 (ECB/2014/53)
ENGLISH
OTHER LANGUAGES 22 +
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17/12/2014: Opinion on credit requirements (CON/2014/88)
Estonia,
ENGLISH
OTHER LANGUAGES 1 +
Eesti keel

16/12/2014: Opinion on the conversion of foreign exchange loans (CON/2014/87)
Hungary,
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OTHER LANGUAGES 1 +
Magyar

09/12/2014: Opinion on amendments to the law on the bank deposit guarantee (CON/2014/86)
Bulgaria,
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OTHER LANGUAGES 1 +
Български

08/12/2014: Opinion on the general terms and conditions of consumer loan contracts (CON/2014/85)
Hungary,
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OTHER LANGUAGES 1 +
Magyar

29/11/2014: Decision of the ECB of 24 November 2014 amending Decision ECB/2013/46 on the approval of the volume of coin issuance in 2014 (ECB/2014/47)
ENGLISH
OTHER LANGUAGES 22 +
Български Čeština Dansk Deutsch Eλληνικά Español Eesti keel Suomi Français Hrvatski Magyar Italiano Lietuvių Latviešu Malti Nederlands Polski Português Română Slovenčina Slovenščina Svenska

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