• European System of Central Banks (ESCB)

    Composed of the European Central Bank (ECB) and the national central banks (NCBs) of all EU Member States, i.e. it includes, in addition to the members of the Eurosystem, the NCBs of those Member States that have not yet adopted the euro. The ESCB is governed by the Governing Council and the Executive Board of the ECB, and, as a third decision-making body of the ECB, by the General Council.