The post-crisis monetary policy of the ECB shares many similarities with that of the Federal Reserve: having largely exhausted the conventional space for moving its policy instrument (the short-term policy rate), the ECB turned to a broad set of unconventional measures in pursuit of its statutory objective.
The Bank is also active in consumer protection and financial literacy. The importance of the consumer protection and financial awareness needs no emphasis here. It aims to empower the consumer so that they transact in the financial sector with confidence. In keeping with this, the Reserve Bank created a Unit to be responsible for Financial Consumer Complaints and Literacy matters.