• Speech
    The implications of negative interest rates

    Very low interest rates, if sustained over a long period of time, can have cumulative effects on financial intermediation and stability. However, the euro area experience so far has been clearly positive, Executive Board Member Benoît Cœuré tells the Yale Financial Crisis Forum.

  • Speech
    Challenges for European banks

    Vice-President Vítor Constâncio reflects on the challenges faced by the banking industry, both at the global and the European level, at a conference in Madrid. European banks in particular have to deal with low profitability, bad loans and overcapacity in the banking sector. ​

27 July 2016

ECB publishes more detailed balance sheet

For the first time, the ECB is publishing annual data on the net financial assets of the ECB and the national central banks and a monthly disaggregated Eurosystem statistical balance sheet, with historical data. This allows easy access to information on NCBs’ assets and liabilities.

25 July 2016RESEARCH

New research on ECB’s asset purchases

Longer-term inflation expectations reflect central banks’ credibility in achieving price stability goals and should remain “anchored”. This article argues that the ECB’s asset purchases have helped prevent a de-anchoring of inflation expectations and a longer period of low inflation.

28/07/2016
Statistical press release: Euro Area Economic and Financial Developments by Institutional Sector: 1st Quarter 2016
27/07/2016
ECB publishes Eurosystem disaggregated balance sheet data
ENGLISH
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27/07/2016
Statistical press release: Monetary developments in the euro area
22/07/2016
Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)
July 2016
22/07/2016
Results of the Q3 2016 ECB Survey of Professional Forecasters (SPF)
22/07/2016
Euro banknote counterfeiting declines in first half of 2016
21/07/2016
Monetary policy decisions
20/07/2016
Statistical press release: Euro area monthly balance of payments (May 2016)
12/07/2016
Statistical press release: Euro area securities issues statistics
11/07/2016
Statistical press release: Euro area households and non-financial corporations: 1st Quarter 2016

All press releases

28/07/2016
Benoît Cœuré:  Assessing the implications of negative interest rates
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, 
at the Yale Financial Crisis Forum, Yale School of Management, New Haven, 28 July 2016
21/07/2016
Mario Draghi:  Introductory statement to the press conference (with Q&A)
Mario Draghi, President of the ECB, 
Vítor Constâncio, Vice-President of the ECB, 
Frankfurt am Main, 21 July 2016
07/07/2016
Vítor Constâncio:  Challenges for the European banking industry
Lecture by Vítor Constâncio, Vice-President of the ECB, 
at the Conference on “European Banking Industry: what’s next?”, organised by the University of Navarra, 
Madrid, 7 July 2016
07/07/2016
Sabine Lautenschläger:  European Banking Supervision – Business model analysis
Presentation by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, 
at the CEO/CFO/CRO-Roundtable, 
Madrid, 7 July 2016
06/07/2016
Mario Draghi:  Eighth ECB Statistics Conference
Welcome address by Mario Draghi, President of the ECB, at the Eighth ECB Statistics Conference, Central Bank Statistics: moving beyond the aggregates, 
Frankfurt am Main, 6 July 2016

All speeches

18/07/2016
Sabine Lautenschläger:  Interview with Expansión
Interview of Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, 
conducted by Alicia Crespo on 7 July 2016, and published on 18 July 2016
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05/07/2016
Sabine Lautenschläger:  Interview mit International Bankers Forum
Interview mit Sabine Lautenschläger, Mitglied des Direktoriums der EZB und stellvertretende Vorsitzende des Aufsichtsgremiums des einheitlichen Aufsichtsmechanismus, 
geführt am 23. Mai 2016 und veröffentlicht am 5. Juli 2016
01/07/2016
Benoît Cœuré:  Interview with Le Monde
Interview of Benoît Cœuré, Member of the Executive Board of the ECB, 
conducted by Marie Charrel on 27 June 2016, and published on 1 July 2016
ENGLISH
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09/06/2016
Benoît Cœuré:  Interview with France 24
Interview with Benoît Cœuré, Member of the Executive Board of the ECB, 
conducted by Stéphanie Antoine on 8 June 2016, and broadcast on 9 June 2016
ENGLISH
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23/05/2016
Peter Praet:  Interview with Público
Interview with Peter Praet, Member of the Executive Board of the ECB, conducted by Sérgio Anibal, published on 23 May 2016.

All interviews

27/07/2016
Statistics paper no. 16: The statistical classification of cash pooling activities, by Antonio Colangelo
27/07/2016
Letter from the ECB President to Mr Matt Carthy, MEP, regarding the Irish economy
22/07/2016
Statistics paper no. 15: Unit non-response in household wealth surveys, by Guillaume Osier
15/07/2016
Eurosystem oversight policy framework
15/07/2016
Working paper no. 1941: The role of price and cost competitiveness for intra- and extra-euro area trade of euro area countries, by Elena Bobeica, Styliani Christodoulopoulou, et al.

All publications

12/07/2016
Opinion on the exclusion of set-off rights with respect to claims mobilised as collateral with a central bank of the European System of Central Banks (CON/2016/37)
France, 
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11/07/2016
Decision (EU) 2016/1162 of the ECB of 30 June 2016 on disclosure of confidential information in the context of criminal investigations  (ECB/2016/19)
11/07/2016
Opinion on the method and procedure for counting, sorting, packaging and labelling of banknotes and coins (CON/2016/36)
Poland, 
ENGLISH
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28/06/2016
Opinion on extending access to the central register of bank accounts  (CON/2016/35)
Belgium, 
ENGLISH
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28/06/2016
Opinion on credit agreements for consumers relating to residential immovable property (CON/2016/34)
Greece, 
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All legal acts

26 July 2016SUPERVISION. EXPLAINED.

Understanding the 2016 stress test

The 2016 bank stress test results will be published on 29 July 2016 by the European Banking Authority. Find out what this year’s stress test entails and how it feeds into the broader supervisory process.

EXPLAINERS

Five facts about the new €50

Get a first look at the new €50 and discover five things you might not know about Europe’s most widely used banknote.

Interest rates

Marginal lending facility 0.25 %
Main refinancing operations (fixed rate) 0.00 %
Deposit facility − 0.40 %
Effective from 16 March 2016

Inflation rates

Full inflation chart Inflation dashboard

Reference rates

USD US dollar icon arrow up 1.1090
JPY Japanese yen icon arrow up 116.14
GBP Pound sterling icon arrow up 0.84220
CHF Swiss franc icon arrow up 1.0892
Last update: Thursday, 28 July 2016 Euro foreign exchange rates

Multimedia

  • Five facts about the new €50

  • Inside the Asset Purchase Programme

  • Discover the New €50 Banknote

  • ECB President Mario Draghi explains TLTRO II

  • Discover the new 20 euro banknote

  • Living in Frankfurt. Working for the ECB

  • New ECB premises: time-lapse video of the construction process

  • Collateral management - the role of the Eurosystem

  • TARGET balances in 8 minutes

  • ECB and the Eurosystem explained in 3 min.

  • 21 July 2016 Press Conference

  • Unveiling of the new €50 banknote

  • Young Economists at ECB Forum on Central Banking

  • ECB Main Building

  • Luminale 2016 - ECB's illuminated buildings

  • Financial Integration in Europe - cover image

    Financial Integration in Europe

  • ECB statistics: a brief overview - cover image

    ECB statistics: a brief overview

  • Progress through crisis? Conference for the 20th anniversary of the establishment of the EMI - cover image

    Progress through crisis? Conference for the 20th anniversary of the establishment of the EMI

  • Legal framework of the Eurosystem and the European System of Central Banks. ECB legal acts and instruments - cover image

    Legal framework of the Eurosystem and the European System of Central Banks. ECB legal acts and instruments

  • The international role of the euro, July 2015 - cover image

    The international role of the euro, July 2015

  • Statistics for Economic and Monetary Union. Enhancements and new directions, 2003-12, by Peter Bull - cover image

    Statistics for Economic and Monetary Union. Enhancements and new directions, 2003-12, by Peter Bull

  • The monetary policy of the ECB - cover image

    The monetary policy of the ECB

  • The payment system – payments, securities and derivatives, and the role of the Eurosystem in this field - cover image

    The payment system – payments, securities and derivatives, and the role of the Eurosystem in this field