The implementation of monetary policy in the Euro area

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Not exactly a beginners' book, the "General Documentation" presents the operational framework chosen by the Eurosystem for the single monetary policy in the euro area. The document was adopted by the Governing Council as Annex I to Guideline ECB/2011/14 of 20 September 2011 on monetary policy instruments and procedures of the Eurosystem and applies from 1 January 2012. For any subsequent amendments, please check the Legal Framework. Contents: 1. Overview of the monetary policy framework. 2. Eligible counterparties. 3. Open market operations. 4. Standing facilities. 5. Procedures. 6. Eligible assets. 7. Minimum reserves.