The European Central Bank’s Governing Council has submitted a proposal to the European Parliament to extend the term of office of Frank Elderson as Vice-Chair of the ECB’s Supervisory Board, up to the end of his mandate as an ECB Executive Board member. The extension is permitted under the ECB Rules of Procedure but cannot run beyond the Executive Board’s eight-year mandate. Under Article 26(3) of the Single Supervisory Mechanism Regulation, the extension requires European Parliament approval and the Vice-Chair must be a member of the ECB Executive Board; Mr Elderson is due to attend a hearing before the Parliament’s Committee on Economic and Monetary Affairs on a date yet to be confirmed. After the parliamentary vote, the Council of the European Union is expected to adopt an implementing decision to formalise the extension.
European Central Bank 2025-12-17
European Central Bank proposes extending Frank Elderson’s term as Vice-Chair of the Supervisory Board to the end of his Executive Board mandate
The European Central Bank's Governing Council has proposed extending Frank Elderson's term as Vice-Chair of the ECB’s Supervisory Board until the end of his mandate as an ECB Executive Board member. This extension requires European Parliament approval and compliance with ECB Rules of Procedure. Following the parliamentary vote, the Council of the European Union is expected to formalize the decision.