JURGEN BECKER Head, Deutsche Bundesbank's Department of Banking and Minimum Reserves CAROLA GEBHARD Assistant Managing Editor, Central Banking Publications LEONHARD GLESKE Deputy Chairman of the Supervisory Board of the Bank of Tokyo (Deutschland) AG, Frankfurt OTMAR ISSING Member of the Board of the Deutsche Bundesbank NORBERT KLOTEN Chairman of the Economic Advisory Council, Federal Ministry of Economics REINER KONIG Head, Department of Economics, Deutsche Bundesbank PETER SCHMID Head of the Money, Credit and Capital Market Division, Deutsche Bundesbank HANS TIETMEYER President of the Deutsche Bundesbank BERTOLD WAHLIG Head of the Law Department at the Deutsche Bundesbank CAROLINE WILLEKE Economist, Monetary Analysis Section, Money, Credit and Capital Markets Division, Deutsche Bundesbank