I will leave it to the speakers tomorrow to highlight the latest developments in these areas. I will just describe some specific elements of our recent internal reorganisation at the ECB which are geared towards improving the quality of our governance function.
Firstly, the ECB has created a new position in 2015, the Chief Services Officer (CSO), responsible for matters pertaining to administrative services, IT services, human resources and finance. Secondly, the Executive Board of the ECB decided to create an independent Finance department, reporting to the CSO and responsible for budgeting and controlling, financial and cost accounting, financial reporting and procurement.