Supervisory Board meets twice a month to discuss, plan and carry out the ECBs supervisory tasks. 9 Tensions were abated by a gentleman's agreement in which Duisenberg would stand down before the end of his mandate, to be replaced by Trichet. Protocol on the institutions with the prospect of enlargement of the European Union, Article 2, sole article, (i). Retrieved b c d "ECB: Governing Council". 50 51 ) In addition to monetary policy decisions, the ECB has the right to issue legally binding regulations, within its competence and if the conditions laid down in Union law are fulfilled, it can sanction non-compliant actors if they violate legal requirements laid down. Denmark, krone.4939.3938.4574.3318 *EMU members, eURO.1488.1667.1547.1755, hONG kong, dollar.8375.8364.8492.8053 india rupee.5609.2779.6317.0357 japan YEN 112.7218 112.0974 110.9965 112.9148 malaysia ringgit.1570.1388.0917.2280 mexico peso.1958.9991.8633.8215 *NEW.
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"Members of the Governing Council". 71 Faced with those regulatory constraints, the ECB led by Jean-Claude Trichet in 2010 was reluctant to intervene to calm down financial markets. The NCBs of the non-participating countries have had to pay 7 of their respective subscriptions to the ECB's capital as a contribution to the operational costs of the ECB. 25 After a long political battle and delays due to the European Parliament's protest over the lack of gender balance at the ECB 26, Luxembourg's Yves Mersch, was appointed as González-Páramo's replacement. It is composed of Chair (appointed for a non-renewable term of five years Vice-Chair (chosen from among the members of the ECB's Executive Board) four ECB representatives and representatives of national supervisors. 1 Soon after the rates were cut.15, then on 4 September 2014 the central bank reduced the rates by two thirds from.15.05, the lowest rates on record. 75 They were intended to dampen international speculation against those countries, and thus avoid a contagion of the Greek crisis towards other Eurozone countries.