ECB to create 2,000 new jobs in Frankfurt

ECB to create 2,000 new jobs in Frankfurt
The new ECB headquarters is nearly finished. Photo: DPA
The Frankfurt-based European Central Bank (ECB) is set to create 2,000 new jobs in the very near future as its role expands to include supervision of the EU's biggest banks, it was reported on Wednesday.

The ECB’s current 1,500 employees would not be enough to take on the task of overseeing 200 of the EU’s 6,000 biggest banks, the Frankfurter Rundschau newspaper said on Wednesday.

To properly fill the gaps, exactly 1,997 more brains would be needed, according to a recent study commissioned by ECB President Mario Draghi.

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And as ECB’s new power kicks in next month, these new employees should be found fast in order to have everything up and running properly, advised the report.

But as the European Parliament is still discussing how to structure the bank in the future, this figure could still change. Generally though, each of the 200 banks there should be assigned a team of eight to ten people.

EU finance ministers decided on the new role last December, agreeing that Frankfurt should supervise any EU bank whose balance sheet comes to more than €30 billion.

The Local/jcw

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