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report parliamentary committee draft, 28 January 2026

On the proposal of the European Central Bank for the appointment of the Vice-Chair of the Supervisory Board of the European Central Bank

Document ECON-PR-782289 · (N10-0080/2025 – C100366/2025 – 2025/0906(NLE))

Committee on Economic and Monetary Affairs · Rapporteur: Aurore Lalucq

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AI:In short

This draft report concerns Parliament's decision on the ECB proposal to extend Frank Elderson's term as Vice-Chair of the Supervisory Board. It approves or declines the appointment based on the candidate's qualifications and gender balance considerations.

Position. The Committee on Economic and Monetary Affairs proposes that Parliament approve or decline the appointment of Frank Elderson as Vice-Chair of the Supervisory Board, based on the evaluation and hearing.

Key points

  1. Parliament approves or declines the appointment of Frank Elderson as Vice-Chair of the Supervisory Board of the ECB.
  2. The decision follows the ECB's proposal of 17 December 2025 to extend Elderson's term for a second term coinciding with his Executive Board term.
  3. The candidate must be chosen from ECB Executive Board members and meet gender balance, experience, and qualification requirements.
  4. Parliament evaluated the candidate's credentials and held a hearing on 28 January 2026.
  5. If declined, Parliament asks for the proposal to be withdrawn and a new one submitted.

Who is affected

  • Frank Elderson, proposed as Vice-Chair of the Supervisory Board of the ECB.
  • The European Central Bank, which proposed the appointment.

Legal basis. Article 26(3) of Council Regulation (EU) No 1024/2013

Written by AI from the full text · every figure comes from the text · ¶ opens the paragraph · 4 Sept 2026 · Report a problem

Full text

Proposal for a european parliament decision 22 paragraphs

(N10-0080/2025 – C100366/2025 – 2025/0906(NLE))

(Approval)

The European Parliament,

– having regard to the proposal of the European Central Bank of 17 December 2025 for the appointment of the Vice-Chair of the Supervisory Board of the European Central Bank (C10-0366/2025),

– having regard to Article 26(3) of Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions,

– having regard to the Interinstitutional Agreement between the European Parliament and the European Central Bank on the practical modalities of the exercise of democratic accountability and oversight over the exercise of the tasks conferred on the ECB within the framework of the Single Supervisory Mechanism,

– having regard to its resolution of 14 March 2019 on gender balance in EU economic and monetary affairs nominations,

– having regard to its resolution of 16 January 2020 on institutions and bodies of the Economic and Monetary Union: preventing post-public employment conflicts of interest,

– having regard to Rule 135 of its Rules of Procedure,

–having regard to the report of the Committee on Economic and Monetary Affairs (A100000/2026),

A.whereas Article 26(3) of Council Regulation (EU) No 1024/2013 provides that the European Central Bank (ECB) is to submit to Parliament its proposal for the appointment of the Vice-Chair of its Supervisory Board for approval;

B.whereas the Vice-Chair of the Supervisory Board must be chosen from among the members of the Executive Board of the ECB;

Read the rest (10 paragraphs)

C.whereas Article 26(2) of Council Regulation (EU) No 1024/2013 provides that appointments to the Supervisory Board in accordance with that Regulation are to respect the principles of gender balance, experience and qualification;

D.whereas Parliament is committed to ensuring gender balance in top positions in the field of banking and financial services; whereas all Union and national institutions and bodies should implement concrete measures to ensure gender balance;

E.whereas, on 10 December 2020, the European Council appointed Frank Elderson as a member of the Executive Board of the ECB for a term of office of eight years as from 15 December 2020 in accordance with Article 283(2) of the Treaty on the Functioning of the European Union;

F.whereas, on 22 February 2021, the European Council appointed Frank Elderson as Vice-Chair of the Supervisory Board of the ECB for a period of five years from 24 February 2021;

G.whereas, by letter of 17 December 2025, the ECB submitted to Parliament a proposal to extend the term of office of Frank Elderson as Vice-Chair of the Supervisory Board of the ECB for a second term with a duration coinciding with the end of his term as member of the Executive Board of the ECB;

H.whereas Parliament’s Committee on Economic and Monetary Affairs then proceeded to evaluate the credentials of the proposed candidate, in particular in view of the requirements laid down in Article 26(2) and (3) of Council Regulation (EU) No 1024/2013;

I.whereas the committee held a hearing with the proposed candidate on 28 January 2026, at which he made an opening statement and then responded to questions from the members of the committee;

EN

1. [Approves / Declines to approve] the appointment of Frank Elderson as Vice-Chair of the Supervisory Board of the European Central Bank [, and asks for the proposal to be withdrawn and for a new one to be submitted];

2. Instructs its President to forward this decision to the Council, the Commission, the European Central Bank, and the governments of the Member States.

Explanatory statement 1 paragraph

This report has been drawn up following the Committee on Economic and Monetary Affairs' exercise of the powers granted to Parliament under Council Regulation (EU) No 1024/2013, in particular Article 26 thereof, and following the Committee on Economic and Monetary Affairs' established procedures in the matter of appointments to regulatory and supervisory bodies in the economic and financial domain.

Annex: declaration of input 1 paragraph

The rapporteur declares under her exclusive responsibility that she did not include in her report input from interest representatives falling within the scope of the Interinstitutional Agreement on a mandatory transparency register, or from representatives of public authorities of third countries, including their diplomatic missions and embassies, to be listed in this Annex pursuant to Article 8 of Annex I to the Rules of Procedure.