Decision-making bodies

The Council of the BCL

Composition:

The Council is composed of the three members of the Executive Board and six members appointed by the Luxembourg Government for a six-year period; the Director General is the President of the Council.

Tasks of the Council:

• To determine political affairs of the BCL
• To adopt guidelines relating to the patrimonial situation of the BCL
• To approve the annual budget, the financial accounts and the report of the Board of Directors
• To discuss the monetary and economic policy measures
• To give its consent prior to the use of the Central Bank's reserve fund

The Council : President: Yves Mersch - Members: Pierre Beck, Pit Hentgen, Serge Kolb, Yves Nosbusch, Jacques F. Poos, Romain Schintgen, Michel Wurth, Claude Zimmer.

The Executive Board of the BCL

Composition:

The Executive Board comprises a Director General and two Directors, appointed by the Grand Duke on a proposal by the Government in Cabinet for a six-year period. Appointments are renewable.

Director General: Yves Mersch – Directors: Serge Kolb and Pierre Beck

It is the superior executive authority of the BCL. It draws up the measures and takes the decisions required for the fulfilment of the tasks entrusted to the BCL

Mr Serge Kolb, Mr Yves Mersch (Director General), Mr Pierre Beck