In April 2002 the European Central Bank (ECB) and the Center for Financial Studies (CFS) launched the ECB-CFS Research Network to promote research on "Capital Markets and Financial Integration in Europe". The Research Network aims at co-ordinating and stimulating top-level and policy-relevant research that significantly contributes to our understanding of the current and future structure and integration of the financial system in Europe and its linkages to the financial systems of the United States and Japan. On 12 July 2006 the Steering Committee proposed to extend the work of the network for three more years after completion of the second phase in fall 2007. For this third phase three new priorities were selected, replacing the 8 priorities that were active until 2007.

The present website is maintained as a service to the Network contributors and to the general public. It contains inter alia:

• A description of the goals and main research areas of the Network (see also the full Network "road map"),
• Announcements of upcoming events� and summaries of past events,
• Information about funding of research in the field of the Network, notably Fellowships for young researchers,
• The report summarizing the first two years of work and the priorities for 2005 to 2007 (press release).

For general enquiries about the Network please click here. For enquiries to National Central Banks of the Eurosystem relating to research under the Network please contact the Network contact person of the respective NCB.

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