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  • Join a Youth Dialogue with Christine Lagarde
    Online Event
    Join a Youth Dialogue with Christine Lagarde

    How is the coronavirus affecting people, businesses and banks? How can we limit the impact on Europe’s economy? President Lagarde will be answering these questions and more today, during an online Youth Dialogue for the European Youth Event 2020.

    Watch live from 09:30 CET

Our response to the coronavirus pandemic
Financial stability in the wake of the coronavirus
26 May 2020 PUBLICATION

Financial stability in the wake of the coronavirus

The euro area financial system has weathered the immediate stress caused by the coronavirus pandemic. Policy responses have been essential in preserving financial stability, however pre-existing vulnerabilities have increased and pose challenges to the recovery.

Coronavirus and non-performing loans
27 May 2020 RESEARCH

Coronavirus and non-performing loans

What lessons can we learn from past crises for the resolution of non-performing loans after the coronavirus? The latest Research Bulletin examines 88 banking crises since 1990 and finds that timely NPL resolution is difficult, but critical for economic recovery.

22/05/2020
Philip R. Lane: International inflation co-movements
Speech by Philip R. Lane, Member of the Executive Board of the ECB, at the Inflation: Drivers and Dynamics 2020 Online Conference, Federal Reserve Bank of Cleveland/European Central Bank, 22 May 2020
English
19/05/2020
Philip R. Lane: Pandemic central banking: the monetary stance, market stabilisation and liquidity
Remarks by Philip R. Lane, Member of the Executive Board of the ECB, at the Institute for Monetary and Financial Stability Policy Webinar, 19 May 2020
English
11/05/2020
Yves Mersch: An ECB digital currency – a flight of fancy?
Speech by Yves Mersch, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the Consensus 2020 virtual conference, 11 May 2020
English
08/05/2020
Christine Lagarde: Opening remarks at the EUI’s State of the Union event
Opening remarks by Christine Lagarde, President of the ECB, at the Online Edition of The State of the Union conference organised by the European University Institute
English
07/05/2020
Luis de Guindos: Presentation of the ECB Annual Report 2019 to the Committee on Economic and Monetary Affairs of the European Parliament (by videoconference)
Introductory remarks by Luis de Guindos, Vice-President of the ECB
English

All speeches

27/05/2020
Isabel Schnabel: Interview with Financial Times
Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Martin Arnold on 25 May and published on 27 May 2020
English
18/05/2020
Christine Lagarde: Interview with Les Echos, Corriere della Sera, Handelsblatt and El Mundo
Interview with Christine Lagarde, President of the ECB, conducted by Dominique Seux, Federico Fubini, Thomas Hanke and Carlos Segovia, published on 18 May 2020
English
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EspañolES DeutschDE ItalianoIT FrançaisFR
18/05/2020
Philip R. Lane: Interview with El País
Interview with Philip R. Lane, Member of the Executive Board of the ECB, conducted by Luis Doncel on 11 May 2020 and published on 18 May 2020
English
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EspañolES
14/05/2020
Fabio Panetta: Interview with Der Standard
Interview with Fabio Panetta, Member of the Executive Board of the ECB, conducted by Andras Szigetvari on 6 May and published on 14 May 2020
English
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DeutschDE ItalianoIT
12/05/2020
Philip R. Lane: Interview with the Telegraaf
Interview with Philip R. Lane, Member of the Executive Board of the ECB, conducted by Dorinde Meuzelaar and Martin Visser on 8 May 2020 and published on 12 May 2020
English
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All interviews

25/05/2020
Opinion on cash limitations concerning postal payments and anti-money laundering measures  (CON/2020/17)
Belgium, 
ENGLISH
20/05/2020
Opinion on amendments to the Union prudential framework in response to the COVID-19 pandemic  (CON/2020/16)
ENGLISH
11/05/2020
Opinion on amendments to Latvian national security, emergency situation and mobilisation laws (CON/2020/15)
Latvia, 
ENGLISH
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LatviešuLV
11/05/2020
Guideline (EU) 2020/634 of the ECB of 7 May 2020 amending Guideline ECB/2014/31 on additional temporary measures relating to Eurosystem refinancing operations and eligibility of collateral (ECB/2020/29)
ENGLISH
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08/05/2020
Opinion on a proposal for a regulation on the establishment of a European instrument for temporary support to mitigate unemployment risks in an emergency (SURE) following the COVID-19 outbreak  (CON/2020/14)
ENGLISH

All legal acts

Coronavirus: zooming in on financial markets
25 May 2020 PODCAST

Coronavirus: zooming in on financial markets

What is the role of financial markets in the economy? How has the coronavirus pandemic affected markets? Is the current crisis also a financial crisis? Our host Michael Steen discusses these questions with ECB Executive Board member Isabel Schnabel.

What are additional credit claim (ACC) frameworks?
EXPLAINERS

What are additional credit claim (ACC) frameworks?

To ensure that banks have full access to central bank liquidity, even in adverse circumstances, the Eurosystem made it possible for national central banks to temporarily accept additional collateral beyond the generally accepted assets. Find out how it came about and how it works.

Interest rates

Marginal lending facility 0.25 %
Main refinancing operations (fixed rate) 0.00 %
Deposit facility − 0.50 %
Effective from 18 September 2019

Inflation rates

 Full inflation chart
Inflation dashboard

Reference rates

USD US dollar 1.0975
JPY Japanese yen 117.92
GBP Pound sterling 0.88878
CHF Swiss franc 1.0600
Last update: Tuesday, 26 May 2020 Euro foreign exchange rates

Financial stability

Market operations

Multimedia

  • ECB Governing Council Press Conference - 30 April 2020

    ECB Governing Council Press Conference - 30 April 2020

  • ECB Governing Council Press Conference - 12 March 2020

    ECB Governing Council Press Conference - 12 March 2020

  • Christine Lagarde, President of the ECB, signing the euro banknotes, 28 November 2019

    Christine Lagarde, President of the ECB, signing the euro banknotes, 28 November 2019

  • The ECB explains: crypto-assets

    The ECB explains: crypto-assets

  • ECB Forum on Central Banking 2019

    ECB Forum on Central Banking 2019

  • Download the ECB Art App

    Download the ECB Art App

  • Travelogue: ECB Executive Board member Benoît Cœuré visiting Vorwerk factory in Cloyes-sur-le-Loir

    Travelogue: ECB Executive Board member Benoît Cœuré visiting Vorwerk factory in Cloyes-sur-le-Loir

  • Euro Banknotes – Our Money, Our Journey

    Euro Banknotes – Our Money, Our Journey

  • Unveiling of the New 100 and 200 Euro Banknotes

    Unveiling of the New 100 and 200 Euro Banknotes

  • 20 years of ESCB statistics: What's next?

    20 years of ESCB statistics: What's next?

  • ECB Press Conference - 30 April 2020

    ECB Press Conference - 30 April 2020

  • New signature for euro banknotes - 28 November 2019

    New signature for euro banknotes - 28 November 2019

  • Christine Lagarde's Keynote Speech - European Banking Congress 2019

    Christine Lagarde's Keynote Speech - European Banking Congress 2019

  • Farewell President Draghi - 28 October 2019

    Farewell President Draghi - 28 October 2019

  • ECB Conference on Gender and Career Progression - 21 October 2019

    ECB Conference on Gender and Career Progression - 21 October 2019

  • European Cultural Days of the ECB: Museumssalon - October 23 2019

    European Cultural Days of the ECB: Museumssalon - October 23 2019

  • ECB Press Conference - 24 October 2019

    ECB Press Conference - 24 October 2019

  • European Cultural Days of the ECB: Museumssalon - October 23 2019

    European Cultural Days of the ECB: Museumssalon - October 23 2019

  • European Cultural Days -10 October 2019

    European Cultural Days -10 October 2019

  • Sendung mit der Maus Tag der offenen Tür - 3 October 2019

    Sendung mit der Maus Tag der offenen Tür - 3 October 2019

  • The international role of the euro, June 2018 - cover image

    The international role of the euro, June 2018

  • Financial integration in Europe, May 2018 - cover image

    Financial integration in Europe, May 2018

  • Price and wage-setting in advanced economies - cover image

    Price and wage-setting in advanced economies

  • ESCB Legal Conference 2018 - cover image

    ESCB Legal Conference 2018

  • 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

  • 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