Meeting of the Supervisory Board of Eesti Pank
At the regular meeting of the Eesti Pank Supervisory Board last Tuesday, the board approved the new statutes of the central bank, which had already been accepted by the European Central Bank.
The new statutes will not lead to any fundamental change in the organisation of work at Eesti Pank. The aim of the changes is to avoid any repetition of the wording of the law in the statutes, so that the statutes do not need to be changed if the law changes. Under the treaties of the European Union any change in the law or the statutes governing a central bank requires approval from the European Central Bank.
The Supervisory board endorsed the Eesti Pank annual report for 2014, which Governor Ardo Hansson will present to the Riigikogu on 26 May.
At the meeting of the Supervisory Board, Eesti Pank Governor Ardo Hansson gave board members the regular review of the state of the economy in the euro area and Deputy Governor Madis Müller presented the Financial Stability Review just published.
The next meeting of the Eesti Pank Supervisory Board will be on 26 May.