Official stance

The Central Bank of Luxembourg (BCL), member of the European System of Central Banks (ESCB), is a public institution created by Luxembourg law. The BCL's independence is based on its organic law and the Treaties of the European Union.

The mission

The BCL is in charge of managing all the monetary and financial responsibilities granted to it as one of the National Central Banks of the ESCB.

It is also a member of the Eurosystem that gathers the European Central Bank and the National Central Banks that have adopted the euro.

On a national level, the Bank has to carry out the tasks imposed on it by the national laws and conventions.

It is developing the following fields of competence:

• Research and studies aimed at preparing, on the one hand, monetary policy decisions and, on the other hand, the development of wider knowledge concerning monetary, financial and economic issues
• Collection and analysis of statistics in the monetary, financial and balance of payments fields
• Implementation of monetary policy instruments
• Organisation and supervision of the payment and settlement systems
• Issuing and circulating banknotes and coins
• Financial asset management, both for itself and for third parties
• Participation in the prudential supervision of the financial system and the exercise of the oversight of payment and settlement systems, in order to guarantee the stability of the financial system in Luxembourg
• Advising the legislative and regulatory authorities in financial and monetary areas
• Publication of its studies and research and of the decisions in which the BCL has taken part together with explanations.

The vision

The BCL intends to become a centre of competence, excellence even, whose performance generates public confidence in the Central Bank.

Among Luxembourg institutions, the BCL takes every care to be in a position to fulfil all its national, European and international obligations.

In view of the wide variety of its duties and activities, both in the public sector and in a competitive environment, the BCL must generate an income guaranteeing its institutional, functional and financial independence.

Corporate values

As a consequence, the values associated with its action are:

• Professionalism, guaranteed by highly specialised employees, high-performance tools and high-level infrastructure
• Quality in all its services
• Stability provided by its long term vision of all its activities
• Objectivity resulting from the establishment of precise rules that are equally applied
• Integrity, guaranteed by the transparency of its internal operation and by respect for professional ethics