The European Investment Bank (EIB), the European Central Bank (ECB) and the European Stability Mechanism (ESM) are key players in European economic governance. All three are hybrid organizations that implement their public mandates by lending and transacting in financial markets – the EIB and the ECB are banks, the ESM operates as a fund. Insulated from the political process to varying degrees, these technocratic organizations pose a challenge for democratic oversight. In 2015, Transparency International therefore commissioned reports on the transparency and accountability of the EIB, the ESM, and the ECB, all of which are now published. The authors of the reports, Cornel Ban and Benjamin Braun, will present their main findings. Transparency International’s Leo Hoffmann-Axthelm will summarize the key recommendations, and Sofia Perez (Boston University) and Jeffry Frieden (Harvard) will act as discussants.