It is to be found in Article 127 on the European System of Central Banks (ESCB
), in Article 282 on the European Central Bank (ECB) and in Protocol No.
To ultimately achieve the objective of the Code, the ESCB
central banks will continue to also encourage all foreign exchange market participants to adhere to it.
"This is a significant global initiative to promote a robust, fair, liquid, open and transparent foreign exchange market underpinned by high ethical standards which benefits all wholesale foreign exchange market participants," the bank said, citing an ESCB
The organisational structure of the European System of Central Banks, the public, and their procedural legitimacy supported by the ESCB
and the ECB, in addition to the ordinary legal regulation of the EU, has also influenced the development of its performance in the years since the crisis, changing the effectiveness of its efforts.
Presently 17 countries are part of the currency union, supervised by the European System of Central Banks (ESCB
), whose lynchpin is the European Central Bank (ECB).
The European Central Bank (ECB) and FYR Macedonia's National Bank (NBRM) last week completed a cooperation programme aimed at helping the NBRM to advance its preparations for joining the European System of Central Banks (ESCB
) once the country has acceded to the European Union.With funding of EUR 405,000 from the EU and EUR 45,000 from the NBRM, the nine-month needs analysis programme which began in October 2012 was coordinated by the ECB and carried out in cooperation with the central banks of Austria, Bulgaria, Estonia, Germany, Ireland, Italy, Malta, the Netherlands, Slovenia, Slovakia and Spain.
The Bank faces similar challenges in its role as a compiler of financial statistics which are required under a separate legal mandate to support the monetary policy and other tasks of the Eurosystem and the European System of Central Banks (ESCB
A lending programme to European banks that sits outside the conventional framework of the ECB but inside the rarely-discussed European System of Central Banks (ESCB
The areas of evaluation, according to the ECB's Convergence Report of May 2008 on the legal integration of national central banks in the European System of Central Banks (ESCB
), substantially influenced the work of institutional domestic banking system.
use of ESCB
(European System of Central Banks) longer-term refinancing operations after 1 January 2013.
2) running a common monetary policy in the EMU countries--the European System of Central Banks (ESCB
) is responsible for the implementation of this policy.
the European Union form the European System of Central Banks, or ESCB