The official site of Italy's central bank

European Central Bank (ECB)

Within the SEPA project, the European Central Bank acts as oversight authority and catalyst of change. That is, it lets market forces work and limits itself to actions to accompany and facilitate changes under way and to define the framework of principles for efficiency and security.

The ECB may exercise its regulatory powers if its promotional activity does not produce an adequate response from the market.

• European Central Bank (ECB)