The Central Bank of Luxembourg / Banque centrale du Luxembourg (BCL) was established by the laws of 22 April 1998 and 23 December 1998.
The BCL was created at the same time as the European Central Bank (ECB).
The independence of the BCL, however, is guaranteed by law and by the Treaty.
The BCL’s contribution is significant for the euro area and for the Grand Duchy of Luxembourg. The Maastricht Treaty and the advent of the euro made the creation of a central bank necessary.
The BCL is tasked with essential missions concerning:
- monetary policy,
- the issuance of banknotes,
- financial stability,
- payment systems,
- economic analysis