Tasks of euro system
Support smooth process of payment systems
Payment systems are a way to move money linking credit and other financial associations. Euro system accepts the significance of having sound and well-organized payment systems. not only for the performance of monetary policy but also for the steadiness of the economic system and the economy as a whole.
Hold and control foreign reserves
The European Central Bank’s foreign reserves are presently controlled in a dispersed manner by the National Central Banks that chooses to participate in operational ECB foreign reserve organization actions. These NCBs operate on behalf of the ECB in accordance with directions obtained from the ECB
Foreign exchange operations
Foreign exchange functions control domestic liquidity and exchange rates conditions. Both are essential elements for monetary policy. Secondly, if the central bank bears out this duty, it guarantees that the foreign exchange processes stay dependable with the intentions of the central bank’s monetary policy.
The Euro system is in charge of implementing and defining the monetary policy of the euro region. This open rule function put into practice generally by monetary market processes. Essence of this task is the full organization of the Euro system over the financial base