Reports indicate that Christine Lagarde, President of the European Central Bank (ECB), receives approximately €140,000 per year from the Bank for International Settlements (BIS), despite internal ECB rules prohibiting staff from accepting third-party payments for activities carried out as part of their official duties.
The revelation, first reported by the Financial Times, has triggered reactions within the ECB. Some employees have voiced their dissatisfaction on the bank’s internal message boards, describing the situation as an example of “double standards” within the institution.
Payment Details and Regulatory Framework
Under ECB regulations, staff members “may not receive additional remuneration for activities performed in the course of their official duties.” However, Lagarde, in her capacity as a member of the BIS Board of Directors, receives an annual payment of around €140,000.
The matter became public after Lagarde disclosed the 2025 payment in a written statement addressed to Fabio De Masi, a German Member of the European Parliament. The timing of the disclosure is notable, as it comes amid ongoing speculation regarding her professional future at the ECB.
Internal Discontent
According to informed sources, some ECB employees believe that the bank’s president benefits from rules that differ from those applied to other staff members. Critics argue that even if BIS board membership is considered part of the ECB president’s international role, receiving separate compensation may conflict with the spirit of the institution’s internal regulations.
Supporters of Lagarde, however, maintain that serving on the BIS board constitutes an independent international responsibility. They note that central bank governors from major economies participate in the BIS structure and that related payments are made in accordance with the organization’s legal framework.
Potential Implications
This is not the first time a senior central bank policymaker has faced scrutiny over issues related to transparency or potential conflicts of interest. Nevertheless, the sensitivity of the matter is heightened given the ECB’s critical role in shaping monetary policy across the euro area.
The latest disclosure is likely to intensify calls for greater transparency regarding the compatibility of such payments with ECB rules. Meanwhile, speculation continues about the possibility of Lagarde stepping down before the end of her term—rumors she has neither confirmed nor denied.
At a time when public trust in monetary institutions remains essential for financial stability, the handling of this issue could influence both the ECB’s institutional credibility and Lagarde’s personal standing in the months ahead.
Read more about the news: Central Bank
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