European Central Bank (ECB) Supervisory Board Member Hakkarainen Speech

Pentti Hakkarainen, member of the Supervisory Board of the ECB, gives a speech. The speeches of the ECB's senior officials often contain references to possible future monetary policy objectives, assessments and measures.

The ECB's Supervisory Board, which meets every three weeks, is responsible for the planning and execution of the ECB's supervisory tasks. These tasks include the determination of capital buffers, the granting or withdrawal of banking licenses, the imposition of enforcement measures and sanctions against major banks. It submits draft decisions to the Governing Council under the implicit approval procedure, i. e. unless the Governing Council objects within a specified period, the decision is deemed to have been adopted.

The Council consists of 19 national representatives of the Euro zone countries, plus four other members for banking and tax matters, Pentti Hakkarainen being one of them. For some of the members, the ECB publishes, with a three-month delay, their personal calendars indicating when and where they attended which meetings.