Headquarter Agreement Ecb

The seat of the European Central Bank enjoys special legal protection granted by an agreement with the Federal Government. It is illegal to enter the PREMISES of the ECB to execute a court order or execute a search warrant. It is also illegal to confiscate material on the premises of the ECB. The federal government has a duty to protect the Central Bank from invaders, including foreign agents and protesters. [22] [23] In exchange for its high independence and discretion, the ECB is accountable to the European Parliament (and, to a lesser extent, to the European Court of Auditors, the European Ombudsman and the Court of Justice of the European Union (ECJ). Although there is no interinstitutional agreement between the European Parliament and the ECB to govern the ECB`s accountability framework, it was inspired by a 1998 European Parliament resolution[108], which was then informally agreed with the ECB and incorporated into Parliament`s Rules of Procedure. [109] The bank has its headquarters in Ostend (East End), Frankfurt am Main. The city is the largest financial centre in the euro area and the location of the bank is defined by the Treaty of Amsterdam. [119] In 2014, the Bank moved to a new, purpose-built headquarters designed by Viennese architectural firm Coop Himmelbau. [120] The building is approximately 180 metres (591 ft) in length and will be accompanied by other outbuildings on landscaped land located on the site of the former wholesale market in the eastern part of Frankfurt am Main. The main construction, with a total area of 120,000 m², began in October 2008,[120][121] and the building was expected to be an architectural symbol for Europe.

The German, Dutch and Belgian governments, which saw Duisenberg as the guarantor of a strong euro, opposed it. [7] Tensions were eased by a gentleman`s agreement in which Duisenberg was to resign before the end of his term and be replaced by Trichet. [8] In 2013, an interinstitutional agreement was concluded between the ECB and the European Parliament in the framework of the establishment of ECB banking supervision. . . .