All explainers

13 September 2024

What is the operational framework and what does it do?

13 September 2024

What is the deposit facility rate?

13 September 2024

What is ANFA?

13 September 2024

What are targeted longer-term refinancing operations (TLTROs)?

13 September 2024

What are benchmark rates?

13 September 2024

What is the main refinancing operations rate?

13 September 2024

What is the marginal lending facility rate?

25 June 2024

What are climate disclosures?

19 June 2024

What is money?

6 June 2024

We have cut interest rates. Why did we do it and what does that mean for you?

8 March 2024

The euro outside Europe

25 January 2024

Why do statistics matter?

11 December 2023

How you benefit from the euro

8 November 2023

What are minimum reserve requirements?

31 October 2023

What is excess liquidity?

13 September 2023

Why does the ECB advise on legislation?

8 September 2023

How are Executive Board members chosen?

30 June 2023

What are haircuts

19 May 2023

Profits and losses of the ECB and the euro area national central banks: where do they come from?

1 January 2023

Rotation of voting rights in the Governing Council

1 January 2023

The euro area in comparison

1 January 2023

What does a country need to do to join the euro area?

7 November 2022

Why does climate change matter to the ECB?

1 October 2022

How are we decarbonising our corporate bond holdings?

28 July 2022

What is forward guidance?

28 July 2022

The ECB's negative interest rate

18 May 2022

What are currency swap lines?

16 November 2021

Why is inflation currently so high?

25 August 2021

Why are stable prices important?

25 August 2021

How does the ECB's asset purchase programme work?

25 August 2021

Five things you need to know about the ECB

25 August 2021

Is the ECB “expropriating” savers?

25 August 2021

What is monetary policy?

28 July 2021

What is the PEPP?

14 July 2021

What is bitcoin?

8 July 2021

What is inflation?

30 January 2021

What the European Central Bank does and what it means for you

14 January 2021

What are additional credit claim (ACC) frameworks?

20 November 2020

What is AnaCredit?

12 August 2020

What are TARGET2 balances?

1 February 2020

Five things you need to know about the Maastricht Treaty

1 February 2020

What are instant payments?

30 January 2020

Who owns the ECB?

26 August 2019

What is a lender of last resort?

29 January 2019

What is the quiet period?

18 July 2018

What is economic slack?

11 April 2018

What is a deposit guarantee scheme?

10 April 2018

Why is cyber resilience important?

18 October 2017

What are structural reforms?

27 June 2017

How does innovation lead to growth?

24 May 2017

A quick guide to macroprudential policies

19 April 2017

How could new technology transform financial markets?

7 April 2017

What is seigniorage?

16 February 2017

Does the ECB make a profit?

12 January 2017

Why is the ECB independent?

8 December 2016

What is securities lending?

28 September 2016

Why does the ECB conduct research?

12 September 2016

What are non-performing loans (NPLs)?

29 June 2016

What is TARGET2?

28 June 2016

What is the role of exchange rates?

25 May 2016

What are interest rates and what is the difference between nominal and real interest rates?

31 March 2016

What is the expanded asset purchase programme?

10 July 2015

How is the ECB accountable for its actions?