How Does the ECB Work?
It is one team, with the ECB in the middle and a national bank in every euro country.
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1.What is the Eurosystem?
It is one team, with the ECB in the middle and a national bank in every euro country.
2.Who sits on the Governing Council?
That is 27 people in the room; the Council is the highest decision-making body and sets the key interest rates.
3.Which are the three key ECB rates?
Collateral simply means assets the bank hands over as security, so the loan is protected (ECB, Key ECB interest rates).
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Sources (9)
- ECB Blog, "A new member at the table: how Bulgaria's euro adoption reshuffles the ECB" (6 Feb 2026)
- ECB, Decision-making bodies (Governing Council, Executive Board)
- ECB, The European System of Central Banks / Eurosystem
- ECB, Monetary policy strategy
- ECB, Independence (Art. 130 AEUV)
- ECB, Key ECB interest rates
- ECB, Governing Council
- Suchauszug zu Abstimmungsregeln im EZB-Rat (Satzung ESZB/EZB, EUR-Lex-Zusammenfassung)
- Eigene Rechnung: Rechenbeispiele zu Stimmen
Education only. Not financial advice.