Organisation

Eurosystem/ESCB Committees

The Committees assist the work of the decision-making bodies of the ECB, which can request them to provide any information in their fields of expertise in order to facilitate the decision-making process and the implementation of decisions. 

Participation is usually restricted to experts of the Eurosystem central banks. However, the national central banks (NCBs) of the EU Member States which have not yet adopted the euro take part in the meetings of a Committee whenever appropriate. Moreover, representatives of other competent bodies may also be invited, such as national supervisory authorities in the case of the Banking Supervisory Committee.

• The Accounting and Monetary Income Committee (AMICO) advises on all intra-Eurosystem issues relating to accounting, financial reporting and the allocation of monetary income. 
• The Banknote Committee (BANCO) advises on all banknote policy-related matters and assists in the strategic planning of banknote production and issuance.
• The Banking Supervision Committee (BSC) assists regarding the contribution to prudential supervision of credit institutions and the stability of the financial system.
• The Eurosystem/ESCB Communications Committee (ECCO) assists in external and intra-system communication policy.
• The Information Technology Committee (ITC) assists in the development, implementation and maintenance of IT networks and communications infrastructures which support the joint operational systems.
• The Internal Auditors Committee (IAC) develops common standards for auditing Eurosystem operations and audits joint projects and joint operational systems at the Eurosystem/ ESCB level.
• The International Relations Committee (IRC) assists in the performance of the ECB's statutory tasks with regard to international cooperation and acts as a forum for exchanging views on matters of common interest in the field of international relations.
• The Legal Committee (LEGCO) provides legal advice for the fulfilment of the ECB's statutory task and prepares the legal acts for the operation of the Eurosystem.
• The Market Operations Committee (MOC) assists in the execution of monetary policy operations and foreign exchange transactions, including those related to the operation of ERM II, and to the management of the ECB's foreign reserves.
• The Monetary Policy Committee (MPC) mainly advises on strategic and longer-term issues relating to the formulation of the monetary and exchange rate policy and is responsible for the Eurosystem staff projections.
• The Payment and Settlement Systems Committee (PSSC) advises on the operation and maintenance of TARGET, general payment systems policy and oversight issues and issues of interest for central banks in the field of securities clearing and settlement.
• The Statistics Committee (STC) mainly advises on the design and compilation of statistical information collected by the ECB with the assistance of the NCBs.
• In 1998, the Governing Council also established a Budget Committee (BUCOM), composed of representatives of the ECB and the Eurosystem NCBs, which assists and reports directly to the Governing Council in matters related to the ECB's budget. 
• The Human Resources Conference (HRC) was established in 2005 and includes the heads of personnel of all EU central banks.