Lagarde will obtain 140 thousand euros in 2025 from the BRI, regardless of a employees ban. ECB replies: completely different code for you | EUROtoday

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ECB President Christine Lagarde earned round 140,000 euros in 2025 as a member of the board of the Bank for International Settlements (BIS) regardless of the ban on ECB employees receiving compensation from third events. The revelation, made by Lagarde herself in response to a query from German and Swedish MEPs, has fueled inner discontent on the Frankfurt institute, the place some workers communicate of a double commonplace.

In 2024 Lagarde obtained 466 thousand euros in primary wage plus 135 thousand euros in advantages from the ECB. Adding the compensation obtained from the BRI, her estimated complete remuneration rises to round 741 thousand euros, making her the very best paid European official. The BIS, which brings collectively the heads of the world’s most important central banks, doesn’t publish the person compensation of its 18 administrators. On the ECB’s inner boards seen by the Financial Times, some workers contested that the personnel code prohibits any exterior remuneration for actions carried out throughout the scope {of professional} capabilities.

The ECB replied to the British newspaper that the president will not be topic to personnel guidelines, however to a devoted code of conduct, and that the position on the BIS board entails governance duties and authorized dangers that justify the compensation.

The case contrasts with the practices of different central banks: Federal Reserve Chairman Powell and Bank of England Governor Bailey don’t gather the BIS indemnity. At the Banque de France, nonetheless, a part of the compensation is returned to the establishment.

Finally, sources cited by the Financial Times recall that Lagarde follows the road of her predecessors, Mario Draghi and Jean-Claude Trichet, who had additionally obtained the BRI allowance.