Regina Moran

The financial system fulfills the Mission of capture resources and distribute them in accordance with the needs of the economic system as a whole. Not all financial intermediaries are banks which are classified into: Bank financial intermediaries. They have the ability to create money, i.e. its assets are accepted as means of payment (banknotes, deposits, checking accounts) non-bank financial intermediaries. They do not have the ability to create money although they perform functions of indeterminacy (stock market, insurance, leasing, factoring companies) after the introduction of the Economic Union and monetary, the most important institution of the financial system is the European Central Bank (ECB) which has replaced the national central banks.The functions of the European Central Bank are: the implementation of monetary policy in the U.E maintenance and management of official reserves of foreign currency (foreign currency) monopoly on the issuance of banknotes and coins while you delegate to the banks National. It acts as a Bank of banks Supervision of financial institutions. The business faculty advises all these concepts and many more.The Bank of Spain has passed to run policy designed by the European Central Bank, performing functions of supervision of monetary policy and the rest of the Spanish financial system.