52003HB0011

Recommendation of the European Central Bank

of 3 October 2003

to the Council of the European Union on the external auditors of the Banque centrale du Luxembourg

(ECB/2003/11)

(2003/C 247/06)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular to Article 27.1 thereof,

Whereas:

(1) The accounts of the European Central Bank (ECB) and of the national central banks of the Eurosystem are audited by independent external auditors recommended by the Governing Council of the ECB and approved by the Council of the European Union.

(2) The mandate of the current external auditors of the Banque centrale du Luxembourg will not be renewed when it expires at the end of 2003, after five years. It is therefore necessary to appoint external auditors from 2004.

(3) The Banque centrale du Luxembourg has selected new external auditors in accordance with its public procurement rules, and the ECB considers that they fulfil the necessary requirements.

(4) The mandate of the external auditors will be for one year and may be renewed,

HEREBY RECOMMENDS:

Deloitte & Touche Luxembourg as the external auditors of the Banque centrale du Luxembourg for the financial year 2004.

This recommendation will be published in the Official Journal of the European Union.

Done at Frankfurt am Main on 3 October 2003.

The President of the ECB

Willem F. Duisenberg