The European Central Bank (ECB) is the central bank for Europe's single currency, the euro. The ECB's main task is to maintain the euro's purchasing power and thus price stability in the euro area. ECB is one of the world's most important central banks, responsible for monetary policy covering the 17 member countries of the Eurozone. The Bank was established on 1 June 1998. The organisation of the ECB is modelled on that of the German Bundesbank and Landesbanken.
The ECB is governed by a board of directors, headed by a President, and a board of governors, consisting of the members of the board of directors and representatives of the local central banks within the European System of Central Banks (ESCB).
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No more queues in front of ATMs - 23.01.2013 Reduced transaction duration is an important issue for customer satisfaction and for efficient use of Banking channels, especially at ATMs. Every measure taken to fasten cash withdrawals, most widespread used ATM transaction, is beneficial to both customers and banks.
Swiss bank Wegelin & Co. to close after US tax evasion fine - 04.01.2013 Switzerland's oldest bank is to close permanently after pleading guilty in a New York court to helping Americans evade their taxes. Wegelin & Co., which was established in 1741, has also agreed to pay $57.8 million in fines to US authorities. Source: BBC
Banks seen shrinking for good as lay-offs near 160,000 - 16.11.2012 Major banks have announced some 160,000 job cuts since early last year and with more lay-offs to come as the industry restructures, many will leave the shrinking sector for good as redundancies outpace new hires by roughly two-to-one. Source: Reuters