The consultation of the Deutsche Bundesbank's Executive Board pursuant to section 7 (3) of the Bundesbank Act regarding the nomination of Dr Johannes Beermann as a member of the Deutsche Bundesbank's Executive Board took place on Tuesday.

The Executive Board did not raise any objections. The outcome of the consultation has been communicated to the Bundesrat.

The Executive Board will take its decision on the allocation of portfolios once Dr Beermann has assumed his new post.