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List of Central Banks Worldwide

The ECB is the central bank for Europe's single currency, the euro. The ECB’s main task is to maintain the euro's purchasing power and thus price stability in the euro area. The euro area comprises the 15 European Union countries that have introduced the euro since 1999.


 

The primary objective of the European Central Bank is to maintain price stability within the Eurozone, which is the same as keeping inflation low. The Governing Council defined price stability as inflation (Harmonised Index of Consumer Prices) of around 2%. Unlike, for example, the United States Federal Reserve Bank, the ECB has only one primary objective with other objectives subordinate to it.

The key tasks of the ECB are to define and implement the monetary policy for the Eurozone, to conduct foreign exchange operations, to take care of the foreign reserves of the European System of Central Banks and promote smooth operation of the financial market infrastructure under the Target payments system and the technical platform (currently being developed) for settlement of securities in Europe (TARGET2 Securities). Furthermore, it has the exclusive right to authorise the issuance of euro banknotes. Member states could issue euro coins, but the amount must be authorised by the ECB beforehand (upon the introduction of the euro, the ECB also had exclusive right to issue coins).

On 9 May 2010, the 27 member states of the European Union agreed to incorporate the European Financial Stability Facility. The EFSF’s mandate is to safeguard financial stability in Europe by providing financial assistance to Eurozone Member States.

The bank must also co-operate within the EU and internationally with third bodies and entities. Finally it contributes to maintaining a stable financial system and monitoring the banking sector. The latter can be seen, for example, in the bank's intervention during the 2007 credit crisis when it loaned billions of euros to banks to stabilise the financial system.

Although the ECB is governed by European law directly and thus not by corporate law applying to private law companies, its set-up resembles that of a corporation in the sense that the ECB has shareholders and stock capital. Its capital is five billion euro which is held by the national central banks of the member states as shareholders. The initial capital allocation key was determined in 1998 on the basis of the states' population and GDP, but the key is adjustable. Shares in the ECB are not transferable and cannot be used as collateral.

Throughout 2011 various member states of the European Union showed themselves to be increasingly unable to meet financial commitments. At its heart, the crisis of the European currency unit or ECU is similar to almost any other financial crisis, including the crisis of 2008. Key concepts to understanding the crisis include collateral, assets, and liabilities.

The bank is based in Frankfurt, the largest financial centre in the Eurozone (although not the largest in the European Union). Its location in the city is fixed by the Amsterdam Treaty along with other major institutions. In the city, the bank currently occupies Frankfurt's Eurotower until its purpose-built headquarters are built.

The owners and shareholders of the European Central Bank are the central banks of the 27 member states of the EU.


List of Offshore Bank

Here are some of the common famous Offshore Zones : Switzerland, Austria, Latvia, Liechtenstein, Cyprus, Bahamas, Cayman Islands, Belize, Costa Rica, Panama, Dominica, British Virgin Islands, Isle of Man, Cyprus, Mauritius, Singapore, Hong Kong, and Cook Islands. These places are notoriously called ' Tax havens of the World ' because they offer significant tax benefits like no income taxes, no estate taxes, no capital gains, excellent interest rates for investments, direct access to stock markets. Switzerland is the undisputed leader in offshore. 

Nevertheless, privacy is a biggest attraction in these 'Tax Free Zones' of the world.

We make offshore bank account setup easy: Just a copy of your passport "legalized" or ID required.

Bank of Albania - Bank of Algeria - Bank of Argentina - Bank of Armenia - Bank of Aruba - Bank of Australia - Bank of Austrian - Bank of Azerbaijan - Bank of Bahamas - Bank of Bahrain - Bank of Bangladesh - Bank of Barbados - Bank of Belarus - Bank of Belgium - Bank of Belize - Bank of Bermuda - Bank of Bhutan - Bank of Benin - Bank of Bolivia - Bank of Bosnia - Bank of Botswana - Bank of Brazil - Bank of Bulgaria - Bank of Burkina Faso - Bank of Cameroon - Bank of  Canada - Bank of Cayman Islands - Bank of Central African Republic - Bank of Chad - Bank of Chile - Bank of China - Bank of Colombia - Bank of Congo -Bank of Costa Rica - Bank of Côte d'Ivoire - Bank of Croatia - Bank of Cuba - Bank of Cyprus - Bank of Czech Republic - Denmark - Bank of Dominican Republic - East Caribbean area - Ecuador - Egypt - El Salvador - Equatorial Guinea - Estonia - Ethiopia - European Union - Fiji - Finland - France - Gabon - Georgia -