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Legal framework

The European System of Central Banks (ESCB) and the European Central Bank (ECB) were created under Article 8 of the Treaty Establishing the European Community (EC Treaty). They act under the powers conferred upon them by the Treaty and by the Statute of the ESCB/ECB, which are the prime sources of law.
The main Treaty provisions on the ESCB and the ECB are set forth in Articles 105-124. The Statute is annexed as Protocol 18 to the Treaty, of which it thus forms an integral part.



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