The ECB is the central bank which monitors the monetary policy of the Eurozone, with the main objective being to maintain price stability.
The ECB's headquarters are in Frankfurt, Germany. Its owners and shareholders of the European Central Bank are the central banks not just of the 18 eurozone countries, but of the 28 member states of the EU.
Markets soon forgot the largely positive stress test results as Germany's Ifo business climate index came in at its lowest since 2012. We recap and talk to New York market watcher Jens Korte about Wall Street's take on the stress tests.
The results are on the table. For months, the European Central Bank has been closely scrutinizing the eurozone's most important banks. Everything revolves around the central question: if there were a new financial crisis, would banks go under again, or do they now have enough capital to master the problem themselves? Made in Germany analyses the results of the ECB stress tests.
The European Central Bank is supposed to guarantee stability, but it's undergoing a revamp itself. Not only is it facing new responsibilities; it is also set to relocate to new premises. More than 2000 staff members will be moving into new offices in a 185-meter double tower block in Frankfurt. The cost: about 1.2 billion euros.
Europe's banks are working hard to regain the confidence of markets, but they don't seem to be doing much for their smaller clients. And the ECB's cheap long term loan facility isn't getting through to the real economy in the way of loans to companies. That's especially true in Spain.
Eurozone banks have received the results of a stress test undertaken by the European Central Bank. The examination was designed to show how each bank would fare in the event of another financial crisis. Any banks that fail will have to prove they can raise extra funds within the next few weeks.