ECB’s Elderson set to extend term as vice chair of bank’s oversight arm, Bloomberg news reports

European Central Bank Executive Board member Frank Elderson is prepared to extend his tenure as vice chair of the bank’s Supervisory Board, Bloomberg News reported on Friday citing people familiar with the matter.

Elderson began his eight-year stint on the executive board in December 2020 and five-year tenure as vice chair of the oversight arm in February 2021.

He is now ready to remain vice chair for the three years left in his mandate as an ECB rate setter, Bloomberg reported. Reuters could not immediately verify the report.