The Banque centrale du Luxembourg (BCL) was established in Luxembourg on 1 June 1998 in accordance with the provisions of the Law of 22 April 1998. The BCL is currently governed by its Organic Law of 23 December 1998, as amended several times.
The BCL was set up at the same time as the European Central Bank (ECB). Their inception represents the outcome of long efforts aiming to create the European Economic and Monetary Union (see Eurosystem). The BCL is entrusted with numerous missions related to monetary policy, the issuing of banknotes, financial stability, banking supervision, statistics, international relations, payment systems, as well as economic analysis and research.