1  BIS Review 49/1999  The institutional framework of the single monetary policy Let me now turn to the institutional framework for the conduct of the single monetary policy. This was laid down in the Treaty establishing the European Community, the so-called Maastricht Treaty, and the Statute of the ESCB, which is an integral part of this Treaty.
By the way, in addition to having the similarity of both working to achieve stability and security, insurance companies and central banks share some of the same difficulties. Insulation from significant risks that cannot be borne by individual economic entities will stimulate economic activity but it could also encourage excessive risk-taking.