The main mission and objective of the central (national) banks is to ensure internal (price) and external (exchange rate) stability of currencies, thereby creating the conditions for sustained economic growth of individual countries. The basic premise is therefore central bank independence. These central banks enforce regulations and international standards issued by international financial institutions or the Basel Committee on Banking Supervision.
Within the EU, the European Central Bank was founded in 1998, which is together with the national central banks of the Member States of the European System of Central Banks (ESCB). The basic tasks of the ESCB are to: define and implement the monetary policy of the EC, conduct foreign exchange operations, hold and manage the official foreign reserves of the Member States, promote the smooth operation of payment systems.
Global forum of central banks takes place at the Bank for International Settlements (BIS). This oldest international financial institution founded in 1930 ensures an international collaboration of the national central banks and provides banking services for national banks and international organizations.