Completed ECB-coordinated programmes

For many years the ECB and national central banks of the EU have taken part in multi-year central bank cooperation programmes, financed by the European Commission.

Specifically, the central banks of countries with EU accession perspectives, and the central banks of Russia and Egypt, have worked with the ECB and EU national central banks in technical cooperation programmes to improve staff skills and institutional capacities.

Central Bank of Montenegro (2014-15)

From September 2014 to March 2015 the ECB and ten EU national central banks engaged in a programme with the Central Bank of Montenegro that analysed six areas:

  • accounting
  • EU integration
  • financial and banking operations
  • financial stability
  • operational risk and business continuity
  • statistics

The aim of this cooperation was to identify areas in which the Central Bank of Montenegro needs to make progress in order to reach a level compatible with that of the ESCB.

The following EU national central banks were involved:

  • Deutsche Bundesbank
  • Eesti Pank
  • Bank of Greece
  • Banque de France
  • Banca d'Italia
  • De Nederlandsche Bank
  • Oesterreichische Nationalbank
  • Banco de Portugal
  • Banka Slovenije
  • Národná banka Slovenska
Press releases
Three central banks of the Western Balkans (2014-15)

From January 2014 to June 2015 the ECB and 11 EU national central banks supported three central banks of EU candidate countries and potential candidates in the Western Balkans. The programme included a six-month analysis of the work of the Bank of Albania in 13 areas:

  • financial stability
  • information technology
  • internal audit
  • banking supervision
  • payment systems
  • banknotes and issuance
  • communication
  • EU integration
  • human resources
  • legal services
  • accounting and financial reporting
  • monetary policy analysis and operations
  • statistics

This was followed by a six-month analysis of the work of the Central Bank of the Republic of Kosovo in seven areas:

  • financial stability
  • information technology
  • internal audit
  • banking supervision
  • payment systems
  • EU integration
  • administration

The aim of this cooperation was to identify areas in which the two central banks need to make progress in order to reach a level compatible with that of the ESCB. The programme also included a project preparation component with the National Bank of the Republic of Macedonia.

The following EU national central banks were involved:

  • Българска народна банка (Bulgarian National Bank)
  • Česká národní banka
  • Deutsche Bundesbank
  • Banque de France
  • Banca d’Italia
  • Central Bank of Malta
  • De Nederlandsche Bank
  • Oesterreichische Nationalbank
  • Banco de Portugal
  • Banka Slovenije
  • Národná banka Slovenska
Press releases
National Bank of the Republic of Macedonia (2012-13)

From 15 October 2012 to 14 July 2013 the ECB and 10 EU national central banks supported the National Bank of the Republic of Macedonia by identifying the specific areas where it needs to make progress in order to reach a level compatible with that of a central bank of an EU Member State. The 10 areas identified were:

  • accounting
  • banknotes
  • economic analysis and research
  • human resources
  • information technology
  • internal audit
  • legal services
  • monetary and exchange rate policy
  • payment systems
  • statistics

The level should be reached by the time the country becomes an EU Member State and the National Bank of Republic of Macedonia joins the ESCB.

The following EU national central banks were involved:

  • Deutsche Bundesbank
  • Eesti Pank
  • Central Bank of Ireland
  • Banco de España
  • Banca d’Italia
  • Central Bank of Malta
  • De Nederlandsche Bank
  • Oesterreichische Nationalbank
  • Banka Slovenije
  • Národná banka Slovenska

Българска народна банка (Bulgarian National Bank) also provided experts to support the programme.

Press releases
National Bank of Serbia (2011-13)

From 1 February 2011 to 31 December 2013 the ECB and 21 EU national central banks supported the National Bank of Serbia in its efforts to implement the central banking standards of the EU in preparation for the Republic of Serbia’s accession to the EU.

The 35-month programme was a follow-up to the needs assessment programme carried out in 2008-9. It covered 13 central banking areas, some of which had also been covered during the needs assessment programme:

  • financial sector supervision
  • legal harmonisation
  • liberalisation of capital movements
  • foreign exchange reserve management
  • monetary and exchange rate operations
  • financial services consumer protection
  • EU accession support
  • economic analysis and research
  • statistics
  • payment systems
  • financial stability
  • information technology
  • accounting and financial reporting

The following EU national central banks were involved:

  • Nationale Bank van België/Banque Nationale de Belgique
  • Българска народна банка (Bulgarian National Bank)
  • Česká národní banka
  • Deutsche Bundesbank
  • Eesti Pank
  • Central Bank of Ireland
  • Bank of Greece
  • Banco de España
  • Banque de France
  • Central Bank of Cyprus
  • Banque centrale du Luxembourg
  • Magyar Nemzeti Bank
  • De Nederlandsche Bank
  • Oesterreichische Nationalbank
  • Narodowy Bank Polski
  • Banco de Portugal
  • Banca Naţională a României
  • Banka Slovenije
  • Národná banka Slovenska
  • Suomen Pankki – Finlands Bank
  • Bank of England
Press releases
Central Bank of Bosnia and Herzegovina (2010-11)

From 1 April 2010 to 30 September 2011 the ECB and seven Eurosystem national central banks supported the Central Bank of Bosnia and Herzegovina in its efforts to implement the central banking standards of the EU in preparation for the country’s accession to the EU.

Experts from Българска народна банка (Bulgarian National Bank) and Banca Naţională a României also contributed.

The 18-month programme was a follow-up to the needs assessment programme carried out in 2007 and covered six central banking areas, the first three of which focused on the recommendations from the 2007 programme:

  • statistics
  • economic analysis and research
  • financial stability
  • harmonisation of legislation with the EU
  • coordination of integration with the EU
  • improvement of the IT services at the Central Bank of Bosnia and Herzegovina

The following Eurosystem national central banks were involved:

  • Deutsche Bundesbank
  • Bank of Greece
  • Banco de España
  • Banca d’Italia
  • De Nederlandsche Bank
  • Oesterreichische Nationalbank
  • Banka Slovenije
Press releases
Strengthening macro- and microprudential supervision in EU candidate countries and potential candidates (2010-12)

From 19 January 2010 to 18 January 2012 the ECB, together with 14 Eurosystem national central banks, offered an assistance programme for EU candidate countries and potential candidates.

The aim was to strengthen macro- and microprudential supervision in the Western Balkans and Turkey.

The Eurosystem conducted the programme in close cooperation with the international financial community, benefiting from the expertise of bodies and institutions in Basel, Brussels, London and Washington D.C. that are already committed to the same objective of reviewing and strengthening the supervisory framework, also in line with the G20 recommendation.

The programme included more than 20 training events and three high-level policy workshops in the first year, and involved around 36 institutions.

During the second year, it provided bilateral support to the eight beneficiaries to help them develop certain supervisory capacities. This was followed by simulation exercises in crisis preparedness and management.

The following Eurosystem national central banks were involved:

  • Nationale Bank van België/Banque Nationale de Belgique
  • Bank of Greece
  • Banco de España
  • Banque de France
  • Banca d’Italia
  • Central Bank of Cyprus
  • Banque centrale du Luxembourg
  • Central Bank of Malta
  • De Nederlandsche Bank
  • Oesterreichische Nationalbank
  • Banco de Portugal
  • Banka Slovenije
  • Národná banka Slovenska
  • Suomen Pankki – Finlands Bank

The EU candidate countries and potential candidates involved were:

  • Croatia
  • the Former Yugoslav Republic of Macedonia
  • Albania
  • Bosnia and Herzegovina
  • Montenegro
  • Turkey
  • Serbia
  • Kosovo (under UNSCR 1244/99)
Press releases
National Bank of Serbia (2008-9)

From 1 September 2008 to 31 May 2009 the ECB and 17 EU national central banks supported the National Bank of Serbia by identifying the specific areas where the bank needs to make progress in order to reach a level compatible with that of a central bank of an EU Member State.

Six central banking areas were identified:

  • supervision of banks
  • harmonisation with the acquis communautaire of legislation under the competence of the National Bank of Serbia
  • liberalisation of capital movements
  • conduct of monetary policy and the exchange rate regime
  • monetary, financial and balance-of-payments statistics
  • financial services consumer protection

The level should be reached by the time Serbia becomes an EU Member State and the National Bank of Serbia joins the ESCB.

The following EU national central banks were involved:

  • Nationale Bank van België/Banque Nationale de Belgique
  • Българска народна банка (Bulgarian National Bank)
  • Česká narodní banka
  • Danmarks Nationalbank
  • Deutsche Bundesbank
  • Eesti Pank
  • Bank of Greece
  • Banque de France
  • Banca d’Italia
  • Central Bank of Cyprus
  • Latvijas Banka
  • Magyar Nemzeti Bank
  • De Nederlandsche Bank
  • Oesterreichische Nationalbank
  • Narodowy Bank Polski
  • Banka Naţională a României
  • Bank of England
Press releases
Central Bank of Bosnia and Herzegovina (2007)

From 1 March to 31 August 2007 the ECB and eight EU national central banks supported the Central Bank of Bosnia and Herzegovina by identifying the specific topics on which the bank needs to make progress in order to reach a level compatible with that of a central bank of an EU Member State.

Seven areas were identified:

  • coordination of banking supervision
  • economic analysis and research
  • financial stability
  • internal audit
  • monetary policy implemented under a currency board arrangement
  • payment systems
  • statistics

The level should be reached by the time Bosnia and Herzegovina becomes an EU Member State and the Central Bank of Bosnia and Herzegovina joins the ESCB.

The following EU national central banks were involved:

  • Deutsche Bundesbank
  • Eesti Pank
  • Bank of Greece
  • Banco de España
  • Banque de France
  • Banca d’Italia
  • Oesterreichische Nationalbank
  • Banka Slovenije
Press releases
Central Bank of Egypt (2009-12)

From 1 January 2009 to 31 March 2012 the ECB and seven EU national central banks supported the Central Bank of Egypt in strengthening banking supervision in Egypt.

This included gradually updating rules, regulations, reporting frameworks and the supervisory practices of the bank and moving them towards basic Basel II compliance, in line with the strategy devised by the Central Bank of Egypt and presented to commercial banks at an event in Cairo on 14 October 2009.

The process of reform involved consulting the banking industry on qualitative issues as well as quantitative impact studies.

The following EU national central banks were involved:

  • Българска народна банка (Bulgarian National Bank)
  • Česká národní banka
  • Deutsche Bundesbank
  • Bank of Greece
  • Banque de France
  • Banca d’Italia
  • Banca Naţională a României
Press releases
Bank of Russia (2008-11)

From 1 April 2008 to 31 March 2011, the ECB and eight Eurosystem national central banks supported the central bank of the Russian Federation (Bank of Russia) in the areas of banking supervision and internal audit.

The banking supervision component aimed to help the Bank of Russia maintain the stability of the Russian banking system by modernising supervisory rules, policies and practices to bring them in line with the internationally accepted principles established by the Basel Committee on Banking Supervision, commonly known as the Basel II Framework, drawing on the experience of the Basel II implementation in the EU.

The internal audit component aimed to help the Bank of Russia enhance the risk-based internal audit function through training and consultations with Eurosystem experts regarding best practices in the Eurosystem in general, and more specifically the internal audit of foreign exchange reserves management and the use of IT tools and systems.

The following Eurosystem national central banks were involved:

  • Deutsche Bundesbank
  • Bank of Greece
  • Banco de España
  • Banque de France
  • Banca d’Italia
  • De Nederlandsche Bank
  • Oesterreichische Nationalbank
  • Suomen Pankki – Finlands Bank
Press releases
Central Bank of Egypt (2005-7)

From 1 December 2005 to 30 November 2007 the ECB and four Eurosystem national central banks supported the Central Bank of Egypt in an overall revision of its administrative and operational procedures in banking supervision with the goal of moving towards a risk-based approach.

The work covered six areas:

  • ongoing surveillance
  • inspections
  • macroprudential analysis
  • regulation and standard-setting
  • methodology and information technology
  • a training curriculum for banking supervisors

More than 70 events, including expert missions, study visits, training courses and other consultations took place over the two years.

The following Eurosystem national central banks were involved:

  • Deutsche Bundesbank
  • Bank of Greece
  • Banque de France
  • Banca d’Italia
Press releases
Bank of Russia (2003-5)

From 1 November 2003 to 31 October 2005, the ECB and nine EU national central banks, as well as three non-central bank supervisory agencies, supported the central bank of the Russian Federation (Bank of Russia) in its efforts to implement a risk-based banking supervision methodology.

The programme involved training a total of 1,000 supervisory staff working in the regional branches of the Bank of Russia and sharing the EU’s risk-based supervisory practices.

64 training courses and four high-level seminars were held in Russia and Bank of Russia staff visited banking supervisors in the EU.

A handbook entitled “Banking supervision – European experience and Russian practice” was also prepared in English and Russian as self-study material for staff of the Bank of Russia.

The following EU national central banks were involved:

  • Deutsche Bundesbank
  • Central Bank of Ireland
  • Banco de España
  • Banque de France
  • Banca d’Italia
  • De Nederlandsche Bank
  • Oesterreichische Nationalbank
  • Banco de Portugal
  • Suomen Pankki – Finlands Bank

The following non-central bank supervisory agencies were involved:

  • Rahoitustarkastus/Finansinspektionen
  • Finansinspektionen
  • Financial Services Authority
Press releases