Lautenschlaeger to Oversee ECB Banknotes, Market Infrastructure

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European Central Bank Executive Board member Sabine Lautenschlaeger will oversee banknotes, market infrastructure, risk management and payment systems as part of a reshuffle of responsibilities among the institution’s top officials.

The redistribution became necessary after Lautenschlaeger’s five-year term as vice chair of the euro area’s bank watchdog ended. The ECB has nominated her colleague Yves Mersch to take on that role.

Lautenschlaeger inherits most of her portfolio from Mersch, who will continue to oversee legal services. Payment systems were previously run by Benoit Coeure. He will remain in charge of market operations and international and European relations.

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