European Central Bank (E.C.B.

)
By: Kyra
Table of Content
• Location
• Type of business
• Structure
• Size
• Types of Services the Business
offers
• Other info
• Expectations
• Results
• Reflection
• Sources
•
•
Location
• ECB-Tower, Sonnenmannstraße 20, 60314
Frankfurt am Main
• Eurotower, Kaiserstrasse 29, 60311,
Frankfurt am Main  where I
will be going
•
Type of business
• European Central Bank /
Deutsche Bundesbank
• A central bank is a financial
instituation that is given
privelaged control over the
production and distribution of
money and credit for a nation
or a group of nations.
• ECB is an official EU insitution
Structure

• The ECB works with the national central

banks of all EU countries.
• Together they form the European
System of Central Banks.
• It leads to cooperation between central
banks in the eurozone  Eurosystem

•
•
Structure:
• Role: To manage the euro,
keep prices stable and
conduct EU economic &
monetary policy
• Monetary policy: Their policy
regarding achievingand
balancing macroeconomic
objectives like inflation,
consumption, growth and
liquidity (cash).
• Established in 1998
• President: Christine Lagarde
• Vice – President: Luis de
Guindos
•
•
Structure
• The ECB has 3 descision making bodies:
• Governing council: the main descision making body
• The Executive Board + the governors of the national central banks from eurozone countries.
• Assesses economic and monetary developments, defines eurozone monetary policy and
fixes the interest rates at which commercial banks can borrow from the ECB.
• Executive board: handles day to day running of the ECB
• The ECB President and Vice – President + 4 other members appointed for 8-year terms by
the leaders of the eurozone countries
• Implements monetary policy, manages day-to-day operations, prepares Governing Council
meetings and exercises powers delegated to it by the Governing Council.
• General council: has more of an advisory and coordination role
• ECB President and Vice President and the governors of the central banks from the EU
countries
• Contributes to advisory and coordination work and helps to prepare for new countries
joining the euro.
•
 Size:
• Staff: more than 3500 employees from all
across Europe
• Headquarters: In Frankfurt, Germany
• Has branches in all 27 EU countries
• Locations in Germany:
Augsburg, Bayreuth, Berlin,
Bielefeld, Bochum,
Bremen, Chemnitz,
Dortmund, Dresden,
Düsseldorf, Erfurt, Essen,
Frankfurt, Freiburg,
Gießen, Göttingen, Hagen,
Hamburg, Hannover,
Karlsruhe, Kiel, Koblenz,
Köln, Leipzig,
Ludwigshafen, Lübeck,
Magdeburg, Mainz,
München, Neubrandenburg,
Nürnberg, Oldenburg,
Osnabrück, Regensburg,
Reutlingen, Reutlingen,
Rostock, Rostock,
Saarbrücken, Stuttgart,
Stuttgart, Ulm, Villingen-
Types of Services the Business offers
• Sets the interest rates at which it lends to commercial banks in
the eurozone (also known as the euro area), thus controlling money
supply and inflation
• Manages the eurozone's foreign currency reserves and the buying or
selling of currencies to balance exchange rates
• Ensures that financial markets & institutions are well supervised by
national authorities, and that payment systems work well
• Ensures the safety and soundness of the European banking system
• Authorises production of euro banknotes by eurozone countries
• Monitors price trends and assesses risks to price stability.
•
Other info

• Average age in the ECB is 48, with

half of the staff aged between 31-
47
• ECB employees are not taxed at all
• A friend of mine knew a person who
worked in the ECB, which is how I
got a spot there
• I had to sign a confidentiality
agreement, self-declaration and
send the ECB my criminal records
to receive my badge for entry
Expectations
• To find out what actually goes on inside a
bank other than just the basic exchange of
money
• See teamwork and coordiantion in real life
• To learn more finance- related things
• To get a fun, wholesome and useful
experience out of this
• Hopefully I won’t have to clean the floor or
toilets, or run coffee errands 
 My experience there was amazing

All my expectations were met

Results The tasks were very insightful

I got to attend meetings and workshops during my

time there

I now have a very good idea of what working at a

bank is like
 What I enojoyed the most:
• Lunch but professionally speaking it would be the working
atmosphere

What I enjoyed the least:

• The wait at the beginning for my account to be set up and the whole
access to the required webistes for the tasks to be given to me.
Took around 3 days.

Reflection What was the most challenging for me:

• My first task. It was one of the most brain sucking tasks I‘ve even had
to complete.

Whether I can imagine working in this field in the future

• There is no definite answer. This is a really tough question as I‘m
conflicted regarding my future. I know that working at the ECB is a
typical 9-5 desk job. I don‘t think I‘d mind doing it, however I have
other more dominant interests and would like to more around
more in my job. Then again, I haven‘t been to any on-sites. On
average I guess I can imagine working in this field if the
circumstances make it so.
Sources – (retrieved 27/02/23)

• https://www.ecb.europa.eu/home/html/index.en.html
• https://www.ecb.europa.eu/euro/changeover/lithuania/html/location.en.html#:~:text=Lo
cations%3A%20Augsburg%2C%20Bayreuth%2C%20Berlin,%2C%20Neubrandenburg%2C%
20N%C3%BCrnberg%2C%20Oldenburg%2C
• ECB lobbies for banks, instead of supervising them - Social Europe
• https://european-union.europa.eu/institutions-law-budget/institutions-and-bodies/in
stitutions-and-bodies-profiles/ecb_en#:~:text=The%20ECB%20has%20the%203,d
ay%20running%20of%20the%20ECB.
•
•