European Central Bank in Institutional Infrastructure of European Banking System (Legal Aspects)

Abstract

This article tackles the issues of legal status of the European Central Bank (ECB) as a key element of the European banking system. The author scrutinizes the main steps of the ECB formation, its place in the system of institutions, EU bodies and agencies, its organizational and functional structures. The author focuses on the application of principles of independence and accountability in the activities of the ECB, and how they are represented in regulating the ECB legal status.