[ECB President Christine Lagarde Receives Compensation from BIS, Accused of Double Standards by Employees] Despite the European Central Bank's (ECB) ban on employees accepting payments from third parties, ECB President Christine Lagarde, as a member of the Board of Directors of the Bank for International Settlements (BIS), still receives approximately €140,000 annually. Some ECB employees have complained on internal message boards about this apparent double standard. One ECB staff member wrote, "Preach water, drink wine." Lagarde is one of 18 top global central bank governors on the BIS Board. While all of them receive a fixed annual salary and variable attendance allowances, the BIS does not disclose the specific compensation details for each member. The ECB stated that Lagarde's situation is different because, as a member of the BIS Board, the president's role means "participating in the governance decisions of the BIS, assuming governance responsibilities and associated legal risks. Given these responsibilities, the president receives compensation from the BIS."
