ECB President Lagarde's BIS Remuneration Raises Staff Concerns

European Central Bank (ECB) President Christine Lagarde has received approximately €140,000 annually for her role on the board of the Bank for International Settlements (BIS), despite ECB regulations prohibiting staff from accepting third-party payments. This has led to internal criticism, with some employees expressing concerns over perceived double standards.

Lagarde disclosed that in 2025, she received 130,457 Swiss francs from the BIS, equating to about €140,000. In 2024, her basic ECB salary was €466,000, supplemented by €135,000 in fringe benefits, making her the highest-paid EU official.

ECB staff have voiced their discontent on internal forums, noting that the bank's rules prohibit employees from accepting external payments related to their professional duties. The ECB clarified that the president is not considered a staff member and is subject to a separate code of conduct for high-level officials.

Comparatively, other central bank leaders handle BIS remuneration differently. For instance, U.S. Federal Reserve Chair Jay Powell does not accept BIS compensation due to U.S. laws prohibiting officials from receiving payments from foreign institutions.

This issue has intensified existing concerns among ECB staff regarding internal governance and transparency. Previous surveys have indicated declining trust in the institution's leadership, with a significant portion of employees expressing dissatisfaction with the current management.

The ECB maintains that the president's BIS remuneration is justified by the governance responsibilities and legal risks associated with the role, distinguishing it from the positions held by regular staff members.