The Bank of Spain is the central bank of Spain founded in 1782 and based in Madrid. The Banco de España's mission is to achieve price stability and financial stability in order to support stable economic growth. The Banco de España is a public law entity which performs the functions of a national central bank in Spain. It is also responsible for the supervision of the Spanish banking system and of other financial intermediaries operating in Spain. The Banco de España performs these functions as a member of the European System of Central Banks (ESCB), the Eurosystem, the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM).