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Banking

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

Published by Gbaf News

Posted on January 27, 2012

6 min read

· Last updated: April 16, 2020

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Banking Central Banks monetary policy European Union financial stability

The Executive Board of the European Central Bank (ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB-POLICY-CENTENO-a52f21b9-8975-4dc5-9a21-8c5e8267aa43>ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB-POLICY-RATES-82f6314e-6203-420b-bc8b-70a978546822>ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB-POLICY-CENTENO-a52f21b9-8975-4dc5-9a21-8c5e8267aa43>ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB) agreed today, within the framework of its collective responsibility, on the following distribution of responsibilities among its members, with immediate effect unless otherwise stated:

Responsibilities of the ECB President

In addition to his statutory duties as President of the Executive Board, the Governing Council and the General Council, the President, Mr Mario Draghi, will remain responsible for Communications; the Counsel to the Executive Board; the ESRB Secretariat; Internal Audit; and Secretariat and Language Services.
In addition to his statutory duties as deputy to the President, the Vice-President, Mr Vítor Constâncio, will remain responsible for Administration (with the exception of the New ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB-POLICY-CENTENO-a52f21b9-8975-4dc5-9a21-8c5e8267aa43>ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB-POLICY-RATES-82f6314e-6203-420b-bc8b-70a978546822>ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB-POLICY-CENTENO-a52f21b9-8975-4dc5-9a21-8c5e8267aa43>ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB Premises Project) and Financial Stability. In addition, he will be responsible for the Oversight of Payment Systems.

Duties Related to Communications

Mr Jörg Asmussen will be responsible for International and European Relations. In addition to his role as the ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB-POLICY-CENTENO-a52f21b9-8975-4dc5-9a21-8c5e8267aa43>ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB-POLICY-RATES-82f6314e-6203-420b-bc8b-70a978546822>ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB-POLICY-CENTENO-a52f21b9-8975-4dc5-9a21-8c5e8267aa43>ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB’s representative at international meetings, he will represent the ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB-POLICY-CENTENO-a52f21b9-8975-4dc5-9a21-8c5e8267aa43>ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB-POLICY-RATES-82f6314e-6203-420b-bc8b-70a978546822>ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB-POLICY-CENTENO-a52f21b9-8975-4dc5-9a21-8c5e8267aa43>ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB in meetings of the Eurogroup Working Group and the Economic and Financial Committee and will attend with the President or the Vice-President the meetings of the Eurogroup, ECOFIN and the Heads of State or Government at the EU and euro area level. Moreover, he will be responsible for Legal Services, the New ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB-POLICY-CENTENO-a52f21b9-8975-4dc5-9a21-8c5e8267aa43>ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB-POLICY-RATES-82f6314e-6203-420b-bc8b-70a978546822>ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB-POLICY-CENTENO-a52f21b9-8975-4dc5-9a21-8c5e8267aa43>ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB Premises Project and the Permanent Representation in Washington, DC.

Duties of Other Executive Board Members

Mr Benoît Cœuré will be responsible, as of 1 March 2012, for Market Operations and, with immediate effect, for Information Systems and Payments and Market Infrastructure.
Mr José Manuel González-Páramo will be responsible, until 29 February 2012, for Market Operations and, with immediate effect, for Research, Statistics, the Risk Management Office and Banknotes.
Mr Peter Praet will be responsible for Economics, Human Resources, Budget and Organisation and the TARGET2-Securities Programme.

Annex

Mario Draghi, President
•   Communications
•   Counsel to the Executive Board
•   ESRB Secretariat
•   Internal Audit
•   Secretariat and Language Services

VítorConstâncio, Vice-President
•   Administration (with the exception of the New ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB-POLICY-CENTENO-a52f21b9-8975-4dc5-9a21-8c5e8267aa43>ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB-POLICY-RATES-82f6314e-6203-420b-bc8b-70a978546822>ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB-POLICY-CENTENO-a52f21b9-8975-4dc5-9a21-8c5e8267aa43>ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB Premises Project)
•   Financial Stability
•   Oversight of Payment Systems

Jörg Asmussen: International Relations

JörgAsmussen
•   International and European Relations
•   Legal Services
•   New ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB-POLICY-CENTENO-a52f21b9-8975-4dc5-9a21-8c5e8267aa43>ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB-POLICY-RATES-82f6314e-6203-420b-bc8b-70a978546822>ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB-POLICY-CENTENO-a52f21b9-8975-4dc5-9a21-8c5e8267aa43>ECB-POLICY-3fdc7763-f2c0-4c30-b494-8614852eaf43>ECB Premises Project
•   Permanent Representation in Washington, DC

Benoît Cœuré: Market Operations and Systems

BenoîtCoeuré
•   Information Systems
•   Market Operations as of 1 March 2012
•   Payments & Market Infrastructure

Additional Board Member Portfolios Overview

José Manuel González-Páramo
•   Banknotes
•   Market Operations until 29 February 2012
•   Research
•   Risk Management Office
•   Statistics

Peter Praet
•   Economics
•   Human Resources, Budget & Organisation
•   TARGET2-Securities

Annex

Mario Draghi, President
•   Communications
•   Counsel to the Executive Board
•   ESRB Secretariat
•   Internal Audit
•   Secretariat and Language Services

BenoîtCoeuré
•   Information Systems
•   Market Operations as of 1 March 2012
•   Payments & Market Infrastructure

José Manuel González-Páramo
•   Banknotes
•   Market Operations until 29 February 2012
•   Research
•   Risk Management Office
•   Statistics

Peter Praet
•   Economics
•   Human Resources, Budget & Organisation
•   TARGET2-Securities

Key Takeaways

Mario Draghi (President) oversees Communications, Internal Audit, ESRB Secretariat, Counsel, Secretariat & Language Services.
Vice‑President Vítor Constâncio handles Administration (excluding new premises), Financial Stability, Payment Systems oversight, and Banking Union.
Jörg Asmussen manages International/European Relations, Legal Services, ECB’s Washington DC representation, and new premises project.
Benoît Cœuré responsible for Market Operations, Payments & Market Infrastructure, Information Systems, and Research.
Yves Mersch oversees Banknotes, Information Systems, Risk Management, TARGET2‑Securities, and jointly the Banking Union; Peter Praet handles Economics, Human Resources, Budget & Organisation, and Statistics.

References

Frequently Asked Questions

When was this distribution decided?

The ECB Executive Board agreed this distribution on 3 January 2012 (and a version reaffirmed on 18 December 2012).

Who handles market operations?

Benoît Cœuré took responsibility for Market Operations as of 1 March 2012, along with Payments, Market Infrastructure and Information Systems.

What is Vítor Constâncio’s role?

As Vice‑President, he oversees Administration (excluding the new premises project), Financial Stability, Oversight of Payment Systems and jointly the Banking Union Project.

Which members are responsible for risk management and banknotes?

Yves Mersch is responsible for Banknotes, Information Systems, Risk Management, TARGET2‑Securities and jointly for the Banking Union Project.

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

Responsibilities of the ECB President

Duties Related to Communications

Duties of Other Executive Board Members

Jörg Asmussen: International Relations

Benoît Cœuré: Market Operations and Systems

Additional Board Member Portfolios Overview

Key Takeaways

References

Frequently Asked Questions

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