March 23, 2017 9:59 AM ET

Diversified Financial Services

Company Overview of European Central Bank

Company Overview

European Central Bank operates as a central bank for the 19 European Union countries. The company’s activities include the definition and implementation of monetary policy for the euro area; conducting foreign exchange operations; holding and managing the euro area’s foreign currency reserves; and the promotion and operation of payment systems. It also carries out specific tasks in the areas of banking supervision, banknotes, statistics, macroprudential policy, and financial stability, as well as international and European cooperation. The company was founded in 1994 and is based in Frankfurt am Main, Germany.

Sonnemannstrasse 20

Frankfurt am Main,  60314

Germany

Founded in 1994

3,171 Employees

Phone:

49- 69-1344- 0

Fax:

49-69-1344-7305

Key Executives for European Central Bank

President of the Executive Board, President and Member of Governing Council
Age: 69
Director General of Budget and Finance
Member of Governing Council and President of the Deutsche Bundesbank
Age: 48
Head of International & European Relations, Member of Executive Board and Member of Governing Council
Age: 47
Chief of Economics, Member of Executive Board and Member of Governing Council
Age: 67
Compensation as of Fiscal Year 2016.

European Central Bank Key Developments

European Central Bank Presents at European Financial Forum 2017, Jan-24-2017 09:05 AM

European Central Bank Presents at European Financial Forum 2017, Jan-24-2017 09:05 AM. Venue: Dublin Castle, Dame St, Printworks Conference Centre, Dublin 2, Ireland. Speakers: Philip R. Lane, Member of Governing Council.

European Central Bank Announces Directorate Changes

The executive board of the European Central Bank (ECB) has appointed Frank Smets, currently counsellor to the president and co-ordinator of the counsel to the executive board, as director general economics. Mr. Smets will take up his new function on 1 February 2017. Mr. Smets has been with the ECB for 18 years. Before becoming counsellor to the president in December 2013, he served as director general research from 2008. Mr. Smets previously worked at the Bank for International Settlements in Basel, Switzerland. Mr. Smets succeeds Wolfgang Schill, who retires from the ECB on 31 January 2017, after 12 years in the role.

BNP Paribas SA, Société Générale SA, Crédit Agricole SA and Crédit Mutuel Group File Lawsuits against European Central Bank

BNP Paribas SA, Société Générale SA, Crédit Agricole SA and Crédit Mutuel Group are among a number of French banks that filed lawsuits against the European Central Bank as they seek exemption from having to hold capital against deposits held in a government-backed fund. Sources with direct knowledge of the cases that the lenders are contesting the ECB's directive that they set aside capital against deposits they make from regulated savings accounts at state-owned Caisse des Dépôts et Consignations, which utilizes those funds to invest in public projects such as housing. The banks argue that their exposure to CDC should not be included in their leverage ratio calculation, citing a European Commission act that states that exemptions may be granted for deposits that the institution is legally obliged to transfer to public sector entity for the purposes of funding general interest investments.

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Recent Private Companies Transactions

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