The Banque centrale du Luxembourg (BCL) was founded by the laws of 22 April 1998 and 23 December 1998 as amended by the law of 13 July 2007, the law of 24 October 2008 and 10 November 2009. The BCL was set up at the same time as the European Central Bank (ECB). Its foundation represents the final outcome of long efforts in the context of the creation of the European Monetary Union (EMU, see also Eurosystem).
The State of Luxembourg is the sole shareholder of the BCL's capital for an amount of 175 million euro (25 million euro as at 31 December 2008). The capital increase has been realised by incorporation of reserves amounting to 150 million euro as at 1 June 2009. Its independence, however, is provided for by its founding law and by the Maastricht Treaty.
The BCL’s contribution is important for the euro area and for the country. The Maastricht Treaty and the advent of the euro made the creation of a central bank necessary. The BCL is in charge of essential missions regarding monetary policy, the issuing of banknotes, financial stability, payment systems and even economic analysis.
In this section, you will also find following information:
On 23 Novembre 2009, the BCL has become an Associate Member of the Islamic Financial Services Board (IFSB).
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