The consultation of the Deutsche Bundesbank's Executive Board pursuant to section 7 (3) of the Bundesbank Act regarding the nomination of Professor Claudia M Buch as Deputy President of the Deutsche Bundesbank took place on Tuesday.

The Executive Board did not raise any objections and is looking forward to working together with Professor Buch. The outcome of the consultation has been communicated to the Federal Government.

The Executive Board will take its decision on the allocation of portfolios once Professor Buch has assumed her new post.