The Council appoints Mr Frank Elderson as Vice-Chair of the ECB Supervisory Board for five years starting 24 February 2021.
24.2.2021 | EN | Official Journal of the European Union | L 64/6 ---|---|---|--- * * * COUNCIL IMPLEMENTING DECISION (EU) 2021/325 of 22 February 2021 on the appointment of the Vice-Chair of the Supervisory Board of the European Central Bank THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty on the Functioning of the European Union, Having regard to Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (1), and in particular Article 26(3) thereof, Whereas: (1) | On 15 October 2013 the Council adopted Regulation (EU) No 1024/2013, conferring specific tasks on the European Central Bank (ECB) concerning policies relating to the prudential supervision of credit institutions. ---|--- (2) | The planning and execution of the tasks conferred on the ECB should be fully undertaken by its Supervisory Board, which is composed of the Chair, the Vice-Chair and four representatives of the ECB, as well as one representative of the national competent authority in each participating Member State. ---|--- (3) | The Supervisory Board is an essential body in the exercise of supervisory tasks performed by the ECB within the Single Supervisory Mechanism. Regulation (EU) No 1024/2013 therefore conferred upon the Council the power to appoint the Chair and the Vice-Chair of the Supervisory Board. ---|--- (4) | On 4 October 2019 the Council appointed Mr Yves MERSCH as Vice-Chair of the Supervisory Board by means of Implementing Decision (EU) 2019/1671 (2). The term of office of the Vice-Chair of the Supervisory Board ended on 14 December 2020. ---|--- (5) | In accordance with Article 26(3) of Regulation (EU) No 1024/2013, the ECB, after hearing the Supervisory Board, is to submit to the European Parliament a proposal for the appointment of the Vice-Chair of the Supervisory Board, who is to be chosen from among the members of the Executive Board of the ECB. The ECB submitted such a proposal on 18 December 2020, and the European Parliament approved it on 8 February 2021, ---|--- HAS ADOPTED THIS DECISION: Article 1 Mr Frank ELDERSON is hereby appointed as Vice-Chair of the Supervisory Board of the European Central Bank for a period of five years from 24 February 2021. Article 2 This Decision shall enter into force on the date of its publication in the Official Journal of the European Union. Done at Brussels, 22 February 2021. For the Council The President J. BORRELL FONTELLES * * * (1) OJ L 287, 29.10.2013, p. 63. (2) Council Implementing Decision (EU) 2019/1671 of 4 October 2019 on the appointment of the Vice-Chair of the Supervisory Board of the European Central Bank (OJ L 256, 7.10.2019, p. 8). * * *