Institutions of the European Union (ECB) is the central bank for the eurozone (the states which have adopted the euro) and thus controls monetary policy in that area with an agenda to maintain price stability. It is at the centre of the European System of Central Banks which comprises all EU national banks. The bank is governed by a board of national bank governors and a President. The ECB is located in Frankfurt. The current president is Mario Draghi. The "European Court of Auditors" (ECA), despite its name, has no judicial powers. It ensures that taxpayer funds from the budget of the European Union have
European System of Central Banks be performed in Stage Three of Economic and Monetary Union (EMU). The General Council also contributes to: The Statute of the ESCB makes provision for the following measures to ensure security of tenure for NCB governors and members of the Executive Board: The ESCB is composed of the European Central Bank and the national central banks of all 28 member states of the European Union. The first section of the following list lists member states and their central banks that form the Eurosystem (plus the ECB), which set eurozone monetary policy. The second section lists member states and their central