BIS Review 146/2009  3  Bearing these considerations in mind, it is rather straightforward to answer the questions posed by the organisers of this conference. First question: Will we have a new or broadened mandate? The primary objective of the ECB is the maintenance of price stability. This mandate, which has been given to us in the Treaty, will remain unchanged.
The Treaty also clarifies that there is no trade-off between this objective and the support that the ECB can lend to the general objectives of the Community. The assignment to the ECB of specific tasks concerning the functioning of the ESRB is welcome, but does not constitute an additional objective for monetary policy.