ANNUAL REPORT 2008 - Polymer Bank Notes of the World

currencies, T2S will be a major step towardsan integrated securities market in Europe. InJuly 2008 the Governing Council also decidedto establish a single shareable platform(CCBM2) for collateral mobilisation, withliquidity and collateral management facilitiesfor Eurosystem counterparties.***At the end of 2008 the ECB had an approvedheadcount ceiling of 1,357.5 full-timeequivalent positions, compared with 1,348 atthe end of 2007. The members of staff of theECB come from all 27 countries of the EUand are recruited by means of open selectioncampaigns to fill vacancies published on theECB’s website. In line with the ECB’s mobilitypolicy, 165 members of staff moved internallyto other positions in 2008, while 23 members ofstaff were seconded to other organisations and30 were granted unpaid leave, in most cases totake up employment with other organisations.The continuous acquisition and development ofskills and competencies by all members of staff,including management, remained a cornerstoneof the ECB’s human resources strategy.In 2008, in order to take into account the latestdevelopments in terms of life expectancy andfinancial sustainability, the ECB started areview of the retirement plan it offers to its staff.The results of this review are expected to beimplemented in spring 2009.the background of further research conductedon the construction market, the ECB remainsdetermined to complete the project within thegiven budget.***The ECB earned a surplus of €2.66 billion in2008 compared with a surplus of €0.29 billionin 2007. The Governing Council decided totransfer, as at 31 December 2008, an amountof €1.34 billion to the provision against foreignexchange rate, interest rate and gold price risks.The size of this provision, which, followingthe 2008 transfer, amounts to €4.01 billion,is reviewed annually. The ECB’s net resultin 2008, after the transfer to the provision hadbeen made, was €1.32 billion. This amount wasdistributed to the euro area NCBs in proportionto their paid-up shares in the ECB’s capital.Frankfurt am Main, March 2009Jean-Claude Trichet***The year 2008 brought fresh challenges withregard to the New ECB Premises project, as thepublic tender procedure for a general contractordid not produce a satisfactory economic result.Consequently, during the summer months allpossible options were thoroughly examined,and the cost calculations and tender strategywere reviewed. Based on this analysis, theGoverning Council decided to divide theprocurement of construction works into themain separate trades and lots, and to restart thepublic tender procedure accordingly. AgainstECBAnnual Report200813