PRESS RELEASE

New organisation chart of the European Central Bank

21 December 2001

In the light of experience gathered during the first three and a half years of the existence of the European Central Bank (ECB), the ECB's Executive Board has partially redistributed the responsibilities of its individual members with effect from 1 January 2002. The new distribution of responsibilities is intended to maximise the synergies between ECB business areas. These changes do not affect the collegial responsibility of the Executive Board as one of the decision-making bodies of the ECB.

Furthermore, the Executive Board has decided on some changes in the number, name and respective competence of the business areas of the ECB.

The new allocation of individual responsibilities and the organisational changes are shown in the attached organisation charts.

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