Published by Global Banking & Finance Review®
Posted on December 17, 2025
1 min readLast updated: January 20, 2026
Add as preferred source on GoogleThe ECB proposes extending Frank Elderson's term as Vice Chair of its bank supervision arm, pending approval from the EU Council and a parliamentary vote.
FRANKFURT, Dec 17 (Reuters) - The European Central Bank proposed on Wednesday to extend the term of board member Frank Elderson as the Vice Chair of the ECB's bank supervision arm, it said in a statement.
Elderson is currently serving a five-year term on the Supervisory Board and this extension will last until he leaves the ECB's Executive Board in December 2028 at the latest.
The extension is subject to the approval of the Council of the European Union after a parliamentary vote.
(Reporting by Balazs Koranyi; Editing by Hugh Lawson)
The European Central Bank (ECB) is the central bank for the euro and administers monetary policy within the Eurozone, aiming to maintain price stability and oversee the banking system.
A bank supervision arm is a regulatory body responsible for overseeing and ensuring the safety and soundness of financial institutions, protecting depositors, and maintaining financial stability.
The Executive Board of the ECB is responsible for implementing monetary policy and managing the day-to-day operations of the European Central Bank.
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