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Borrowers can use 25 per cent of the ECB to repay rupee debt and the remaining 75 per cent should be used for new projects. A borrower can not refinance its entire existing rupee loan through ECB. The money raised through ECB is cheaper given near-zero interest rates in the US and Europe, Indian companies can repay part of their existing ...
Wim Duisenberg, first President of the ECB. The European Central Bank is the de facto successor of the European Monetary Institute (EMI). [7] The EMI was established at the start of the second stage of the EU's Economic and Monetary Union (EMU) to handle the transitional issues of states adopting the euro and prepare for the creation of the ECB and European System of Central Banks (ESCB). [7]
The aim of the program is then to prevent divergence in short-term bond yields, and to ensure that the ECB's monetary policy is transmitted equally to all the Eurozone's member economies. The central bank notes that the OMT is meant as a means to "safeguard an appropriate monetary policy transmission and the singleness of the monetary policy".
The General Council performs the tasks which the ECB took over from the EMI and which, owing to the derogation of one or more member states, still have to be performed in Stage Three of Economic and Monetary Union (EMU). The General Council also contributes to: ECB's advisory functions; Collection of statistical information
The national central banks apply the monetary policy of the ECB. [2] The primary objective of the Eurosystem is price stability. [3] Secondary objectives are financial stability and financial integration. [4] The mission statement of the Eurosystem says that the ECB and the national central banks jointly contribute to achieving the objectives. [5]
US News & World Report created a list of US cities with the best quality of life. The top locations include Honolulu and Ann Arbor, Michigan.
A Canadian man has been arrested by Indian authorities at the New Delhi’s airport after a crocodile skull was found in his luggage.
A cheeky little slice of cake here, a cookie there, or a nibble of chocolate every once in a while isn't the worst thing in the world. But according to new research, the buck stops at sugary drinks.