EUR-Lex Access to European Union law

Back to EUR-Lex homepage

This document is an excerpt from the EUR-Lex website

Glossary of summaries

Glossary of summaries


The European System of Central Banks (ESCB) comprises the European Central Bank (ECB) and the national central banks (NCBs) of all 27 European Union (EU) countries whether or not they have adopted the euro as their currency. The ECB together with the NCBs of the EU countries whose currency is the euro constitute the Eurosystem.

According to the Treaty on the Functioning of the EU, the primary objective of the ESCB is to maintain price stability in the EU. In addition, the ESCB supports the EU general economic policies with a view to achieving the EU’s objectives, as laid down in Article 3 of the Treaty on European Union.

The ESCB is governed by the decision-making bodies of the European Central Bank.