**Summary:**
European Council Decision (EU) 2020/2049, adopted on December 10, 2020, appoints Mr. Frank Elderson as a member of the Executive Board of the European Central Bank (ECB). This decision follows the expiration of Mr. Yves Mersch's term on December 14, 2020, who served on the Executive Board since December 15, 2012. The appointment of Mr. Elderson is based on the European Council's assessment that he fulfills the requirements outlined in Article 283(2) of the Treaty on the Functioning of the European Union. Mr. Elderson's term is for eight years, commencing on December 15, 2020. The decision entered into force on December 10, 2020. The decision was made with regard to the recommendation of the Council of the European Union, the opinion of the European Parliament, and the opinion of the Governing Council of the European Central Bank.
Key Entities Referenced
European Council: The institution of the European Union that defines the general political direction and priorities.
European Central Bank: The central bank of the Eurozone, responsible for the monetary policy of the euro area.
Treaty on the Functioning of the European Union: One of the primary treaties of the European Union, outlining its scope and functions.
Executive Board of the European Central Bank: One of the decision-making bodies of the European Central Bank, responsible for the day-to-day management of the ECB.
Yves MERSCH: Former member of the Executive Board of the European Central Bank.
Frank ELDERSON: Appointed member of the Executive Board of the European Central Bank.
European Parliament: The parliamentary body of the European Union.
Brussels: The location where the European Council decision was made.
L 420/22 E N O f f i c i a l J o u r n a l o f t h e E u r o p e an Union 14.12.2020
EUROPEAN COUNCIL DECISION (EU) 2020/2049
of 10 December 2020
appointing a member of the Executive Board of the European Central Bank
THE EUROPEAN COUNCIL,
Having regard to the Treaty on the Functioning of the European Union, and in particular Article 283(2),
Having regard to the recommendation of the Council of the European Union(1),
Having regard to the opinion of the European Parliament(2),
Having regard to the opinion of the Governing Council of the European Central Bank(3),
Whereas:
(1) Mr Yves MERSCH was appointed member of the Executive Board of the European Central Bank for a term of office
of eight years as from 15 December 2012. His term of office expires on 14 December 2020.
(2) It is therefore necessary to appoint a new member of the Executive Board of the European Central Bank.
(3) The European Council wishes to appoint Mr Frank ELDERSON, who, in its view, fulfils all the requirements set out in
Article 283(2) of the Treaty,
HAS ADOPTED THIS DECISION:
Article 1
Mr Frank ELDERSON is hereby appointed a member of the Executive Board of the European Central Bank for a term of
office of eight years as from 15 December 2020.
Article 2
This Decision shall enter into force on the date of its adoption.
Done at Brussels, 10 December 2020.
For the European Council
The President
C. MICHEL
(1) OJ C 338, 12.10.2020, p. 2.
(2) Opinion delivered on 23 November 2020 (not yet published in the Official Journal).
(3) Opinion delivered on 28 October 2020 (OJ C 372, 4.11.2020, p. 11).