At its regular meeting held on 3 March 2009, the new membership of the Supervisory Board of Eesti Pank discussed the current situation of the Estonian economy and the banking system.

The Supervisory Board received an overview of the bank’s 2008 budget implementation. According to unaudited data, the operating expenses of Eesti Pank amounted to 358 million kroons and the profit to 1,247 million kroons last year.

Proceeding from the core tasks of the Supervisory Board of Eesti Pank and Estonia's changed economic situation, the Board instructed the Executive Board of Eesti Pank to prepare a plan for cutting expenditure, which also covers the personnel expenses and remuneration of the Executive Board. The Executive Board confirmed that the action plan is already in process and will be submitted to the Supervisory Board by the next meeting.

The Supervisory Board of Eesti Pank was submitted the work statement of the Internal Audit Department of 2008. The Supervisory Board of Eesti Pank approved the design of the collector coins dedicated to the tradition of Estonian Song and Dance Festivals.

The next meeting of the Supervisory Board of Eesti Pank will be held on 31 March 2009.