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
2010 European Union bank stress test 2010 European Union bank stress test A European Union-wide banking stress test exercise has been conducted by the Committee of European Banking Supervisors every year since 2009. The second instance was performed in July 2010. The Council of the European Union (in its economic and financial – ECOFIN – configuration) mandated that Committee so to do, in the aftermath of the global financial crisis which started in 2007. The 2010 test was the second of its kind, which assesses the financial strength of European banks under different adverse scenarios. This was done in co-operation with the European Central Bank, the