The ECB and the national central banks together constitute the Eurosystem, the central banking system of the euro area. The overriding policy objective for the euro is price stability. One of the basic tasks of the ECB and the Eurosystem is to promote the smooth operation of payment systems. More widely ECB and Eurosystem shall contribute to the smooth conduct of policies pursued by the competent authorities relating to the prudential supervision of credit institutions and the stability of the financial system.
Against this background, like other central banks and major international organisations participating as observers to the FATF, the ECB supports an efficient and effective implementation of FATF recommendations in the combat of money laundering and the financing of terrorism financing. The ECB associates itself with the initiatives taken to strengthen international standards as well as the monitoring of their enforcement.
For more information about the European Central Bank: http://www.ecb.int/