ECB to retain current voting regime

The governing council of the European Central Bank (ECB) today decided to continue its current voting regime and introduce a rotation system only when the number of governors and presidents of the euro area national central banks exceeds 18.

Having analysed a number of models to adopt once this number is reached, the governing council opted for governors to rotate in and out of the voting right after one month. The number of governors rotating would be determined by the difference between the number of governors and the number of votes allocated to each group minus two, taking the absolute value in case of a negative number.

This rotation model achieved short periods without vote for individual governors combined with relative stability of the composition of the voting college. An ECBdecision on the implementation details of the rotation system wouldbe adopted at a later stage and thereafter published in the Official Journal of the EU and on the ECB's website. Once the rotation system entered into force, the list of governors with a voting right would be published on the ECB's website and regularly updated.