Distribution of responsibilities among the members of the Executive Board of the ECB

Within the framework of its collective responsibility for the overall functioning of the business areas of the European Central Bank (ECB), the Executive Board of the ECB agreed yesterday on the following distribution of responsibilities among its members, with immediate effect:

In addition to his statutory duties as President of the Executive Board, the Governing Council and the General Council, the President, Mr Jean-Claude Trichet, will be responsible for the following areas: Communications; Internal Audit; Secretariat and Language Services.

In addition to his statutory duties as deputy to the President, the Vice-President, Mr Vítor Constâncio, will be responsible for the following areas: Administration and Financial Stability.

Ms Gertrude Tumpel-Gugerell will be responsible for the following areas: Human Resources, Budget and Organisation; Payments and Market Infrastructure and TARGET2-Securities.

Mr José Manuel González-Páramo will be responsible for the following areas: Banknotes; Market Operations and Research.

Mr Lorenzo Bini Smaghi will be responsible for the following areas: International and European Relations; Legal Services and the New ECB Premises Project.

Mr Jürgen Stark will be responsible for the following areas: Economics; Information Systems and Statistics.