EUR 80,000 share of the OeNB – 1999
On January 1, 1999, the beginning of the Stage Three of Economic and Monetary Union, the euro as a single currency was introduced in Austria and ten other member states. The Oesterreichische Nationalbank transferred its responsibility in matters of monetary policy to the European Central Bank (ECB). The decisions are made by the Governing Council of the ECB.
The Oesterreichische Nationalbank forms an integral part of the European System of Central Banks, which consists of the ECB and the national central banks.