European Association for Banking and Financial History e. V.

Minutes: 17th General Members’ Meeting . To: Members Date of Meeting: 26 May 2006, 9.30 a.m. Location: Head Office of Caixa Geral de Depósitos Rua Arco do Cego Lisbon

Room: Room 2 Culturgest Chairman: Mr. Jean-Claude Trichet

Voting Participants: 1. Melanie Aspey, N.M. Rothschild & Sons Limited 2. Piet Clement, Bank for International Settlement 3.(Juan Carlos Martinez Oliva, Bank of Italy) 4. Vítor Constâncio, 5. Catherine Dardignac, Société Générale 6. Fatima Dias, Millennium bcp 7. Ingrid Elferink, ING Group 8. Carlos Santos Ferreira, Caixa Geral de Depósitos 9. Rudolf Frei, Swiss Re 10. Edwin Green, HSBC Holdings plc 11. Patrick Halbeisen, Swiss National Bank 12. Herman Harder, SNS Bank 13. Iuliu Iacobescu, 14. Leif Jacobsson, Sveriges Riksbank 15. Konstantinos Kostis, Alpha Bank 16. Pierre de Longuemar, BNP Paribas 17. George Mitrofanis, Bank of Greece 18. Joke Mooij, 19. Gérassimos Notaras, National Bank of Greece 20. Roger Nougaret, Crédit Agricole SA 21. Jirí Novotný, Czech National Bank 22. Nadina Paphitou, Bank of Cyprus Ltd 23. Anders Perlinge, SEB 24. Francesca Pino, Banca Intesa 25. Manfred Pohl, 26. (René Link, of Luxembourg) 27. (Maureen Murray, Central Bank & Financial Services Authority of Ireland) 28. (Stella Santi, Central Bank of Cyprus) 29. (Erik Sevaldsen, Danske Bank) 30. (Lorans Tanatur Baruh, Garanti Bank) 31. (Christo Yanovsky, Bulgarian National Bank) 32. Villia m Polakovic, National Bank of Slovakia 33. Ries Roowaan, ABN AMRO Bank N.V. 34. Belhi Sari, Türkiye Is Bankasi A.S. 35. Jon Sigurðsson, Central Bank of Iceland 36. Marjeta Šketa, Bank of Slovenia 37. Gabriele Teichmann, Sal. Oppenheim Jr. & Cie 38. Maria Teresa Tortella, Bank of Spain 39. Marc Van Pottelberghe, KBC Bank and Holding Company 40. Jan Van der Meer, Rabobank Nederland 41. Robert U. Vogler, UBS AG 42. Matthias Weber, 43. Josephine Zammit, Central Bank of Malta

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Non-Voting Persons in Attendance: Fernando Adão da Fonseca, Mille nnium bcp Carlos Alberto Damas, Individual Member Ansgar Dewes, European Central Bank Margarita Dritsas, Individual Member Gerald D. Feldman, EABH e. V. – Chairman of the AAC Piet A. Geljon, Individual Member Uul Haanstra, ING Group Niels-Viggo Haueter, Swiss Re Eleni Kefala, Bank of Greece Kirsten Keidl, EABH e.V – Secretary General Malcolm Knight, Bank for International Settlements Christian Leitz, UBS AG Luís de Abreu Nunes, Banco de Portugal – new Treasurer EABH e.V. Javier Santillán, - former Treasurer EABH e.V Marián Tkác, National Bank of Slovakia Jean-Claude Trichet, President of the ECB, Chairman of the EABH e.V. Corry van Renselaar, De Nederlandsche Bank

* Those names shown in brackets have appointed the person above to vote in their absence

In Memorium

Before the 17th General Members’ Meeting of the EABH is officially opened Prof. Pohl asks the members to stand up and observe a one minutes silence in memory of Dr. Willem Duisenberg. With him the EABH lost a great man and colleague.

Introduction of Mr. Jean-Claude Trichet

Prof. Pohl introduces Mr. Jean-Claude Trichet, the new chairman, to the audience. Mr. Trichet’s election was conducted in writing. The EABH believes it will benefit greatly from the leadership of Mr. Trichet and thanks him for his willingness to serve.

Opening

Mr. Jean-Claude Trichet, Chairman, welcomes everybody to the 17th General Members’ Meeting of the European Association for Banking and Financial History e.V. He states that in accordance with the Articles of Association a quorum has been constituted.

He introduces Prof. Manfred Pohl, Deputy Chairman of the EABH, who will answer any general questions regarding the Association, Prof. Gerald D. Feldman, Professor of at the University of California, Berkeley, and Chairman of the Academic Advisory Council, who will answer questions regarding the academic programme, Mr. Javier Santillán, Treasurer of the EABH, who will guide the audience through the financial figures; and Ms. Kirsten Keidl, Secretary General during Mrs. Gabriella Massaglia’s leave.

The Chairman thanks the hosting bank and particularly welcomes Dr. Carlos Santos Ferreira, Chairman of Caixa Geral de Dépositos, who is standing for election onto the Board of Patrons.

Mr. Trichet also welcomes and thanks Prof. Vítor Constâncio, Deputy Chairman of the Board of Patrons and Mr. Malcolm Knight, member of the Board of Patrons for taking the time to attend the General Members’ Meeting.

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He introduces Dr. Luís Filipe de Abreu Nunes, standing for election as Treasurer of the EABH, and Prof. Gérassimos Notaras, standing for election as Auditor, replacing Dr. Nunes and thus supporting Mrs. Gabriele Teichmann. Mr. Trichet informs the members that Mrs. Teichmann will provide the audience with the Auditor’s report.

The chairman welcomes the newest corporate members attending their first General Members’ Meeting: - Mr. Leif Jacobsson, Sveriges Riksbank - Ms. Fatima Dias and Mr. Fernando Adão da Fonseca, Millennium bcp

He also welcomes Dr. Piet A. Geljon, an individual member attending the General Members’ Meeting for the first time.

Before proceeding, he reminds the members that each member bank has one vote only and that, if there is more than one representative of the same bank, only one has the right to vote, as indicated in the participant list. He informs the participants that Prof. Pohl will vote as a representative of Deutsche Bank, but he will not vote when it comes to releasing the Board of Management from responsibility.

1. Financial Report

The Chairma n thanks Mr. Javier Santillán for the very thorough and comprehensive financial report and asks Mr. Santillán to provide the audience with his comments. Mr. Santillán describes the financial situation of the EABH. (Please see Financial Report provided in the Interim Report)

2. Report of the Auditors

Mrs. Teichmann presents the auditors’ report to the members explaining that the auditors had the opportunity to analyse and comment upon the European Association for Banking and Financial History’s account as of 31st December 2005.

Mrs. Teichmann notes that the auditors were satisfied with the information provided by the EABH secretariat including the explanations of the significant accounts.

According to Mrs. Gabrielle Teichmann the “Current Assets” at 362.394,21 Euro demonstrate the financial position of the EABH is in good shape, and the auditors raise no objection to the 2005 Balance Sheets and Accounts. Mrs. Gabriele Teichmann thanks the secretariat and the staff of the EABH for their co-operation in providing all the information needed to prepare this report.

3. Approval of the Budgetary Balance

The Chairman asks for the members’ approval of the 2005 budgetary balance. The accounts for 2005 are unanimously approved by the members.

4. Release of t he Board of Management from Responsibility

Mr. Trichet asks the participants to the release the Board of Management from responsibility and reminds Prof. Pohl that he is not allowed to vote for this item, in his capacity as a member of the Board of Management.

The Board of Management is unanimously released from responsibility.

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5. Approval of the Budget 2006

The Chairman asks the members if they approve the budget for 2006.

The budget for 2006 is unanimously approved by the members.

6. Annual Report of the Board of Management

The Chairman asks Prof. Feldman to provide the assembly with further information regarding the academic programme of the EABH.

Prof. Feldman summarises the events of 2005, these being:

· The sad passing away of Dr. Duisenberg. · The election of Mr. Trichet as Chairman (and his first Board of Management meeting held on 27 March 2006 at the ECB premises) · The conference Finance and Modernisation, hosted by Bank Austria Creditanstalt in Vienna on 20 & 21 May 2005. · The second workshop on Archives and Corporate Culture, on 18 May 2005 hosted by Bank Austria Creditanstalt in Vienna. · The Central Banks’ Workshop European Central Banks and Monetary Cooperation after 1945, hosted by BIS in Basel on 2 December 2005.

He reports on the ma in events planned for 2006:

· The conference The State and Financial Services: Regulation, Ownership and Deregulation, hosted by Caixa Geral de Depósitos. · The workshop Banking and Financial Archives: Priorities for the Future, kindly hosted by Caixa Geral de Dépositos. · The workshop Art and Cultural Activities in Financial Institutions, also hosted by Caixa Geral de Depósitos. · The workshop Risk and Disasters for insurance companies on 14 December 2006, to be kindly hosted by Swiss Re.

He outlines the highlights for 2007:

· The Malta Conference on 1 & 2 June 2007 on Banking and Finance in the Mediterranean. A Historical Perspective, kindly hosted by Bank of Valletta and the Central Bank of Malta. · The workshop In-house Magazines of Financial Institutions from a Historical Perspective, kindly hosted by Bank of Valletta and the Central Bank of Malta, prior to the main conference. · The Summer School for Archivists, planned as a joint event with the Universidade Lusofóna in summer 2007 in Lisbon

7. Board Elections: re-elections and new elections

Mr. Trichet starts with the Board of Management and the re-election of its members.

Firstly, he informs the assembly that, regretfully, Mr. Javier Santillán, former Bank of Spain, will not stand for re-election as Treasurer. He thanks him for the support he has given since his original election in 2000.

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Mr. Trichet asks Mr. Santillán, if he is willing to become an Honorary Member of the EABH. Mr. Santillán accepts to become an Honorary Member. The Honorary Membership is restricted to former members of the Board of Management and of the Board of Patrons.

Dr. Luís de Abreu Nunes, Bank of Portugal, stands for election as Treasurer. He is unanimously elected by the members. Dr. Luís de Abreu Nunes accepts the election.

Mr. Trichet turns then to the Board of Patrons and to the new elections onto the Board of Patrons:

- Takis Arapoglou, National Bank of Greece - Carlos Santos Ferreira, Caixa Geral de Depósitos - Michel Pébereau, BNP Paribas

All the above mentioned colleagues are unanimously elected for a term of five years.

8. Auditor Election

Dr. Luís Nunes, the new Treasurer of the EABH withdraws as internal Auditor. Prof. Gérassimos Notaras, National Bank of Greece stands for election as Auditor of the EABH, thus assisting Mrs. Teichmann in her role.

Prof. Notaras is unanimously elected as internal Auditor.

9. Questions and Answers

The Chairman then opens the meeting to the floor. No questions are raised.

Mr. Trichet thanks the audience for their attention and officially closes the 17th General Members’ Meeting of the EABH.

Jean-Claude Trichet Manfred Pohl Chairman Deputy Chairman

Kirsten Keidl Minutes’ Taker

Frankfurt, 30 June 2006

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