The purpose of ECB statistics is to provide all the data necessary in order to undertake the tasks of the European System of Central Banks. Although the main task is the conduct of monetary policy for the euro area, ECB statistics are also provided to the European Systemic Risk Board for the macro-prudential oversight of the financial system. In addition, the ECB makes these statistics and supporting information available to both the general public and market participants.
Who produces the statistics?
A memorandum of understanding sets out the responsibilities of the ECB and the European Commission (i.e. Eurostat) as regards economic and financial statistics at the European Union level:
- the ECB has primary responsibility for monetary and financial statistics, statistics on the international reserves of the Eurosystem, and statistics on the nominal and real effective exchange rates of the euro;
- Eurostat has primary responsibility for general economic statistics;
- the two share responsibility for balance of payments statistics and financial and non-financial accounts broken down by institutional sector.