Mandatory ethics training for all staff members should further enhance our strong ethical culture. Moreover, a high-level Ethics Committee has been established to advise Governing Council, Executive Board and Supervisory Board members on conduct matters. In my view the ECB’s Ethics Framework is probably the strictest of any EU institution or central bank.
All our staff members – including Executive Board members – need to provide a list of their bank accounts and powers of attorney conferred on them by third parties, to facilitate regular compliance checks of their private financial transactions by our external auditor.