- ECB signs lease on Gallileo building in Frankfurt to house banking supervision
- Relocation of supervisors from Eurotower and Japan Center will take place by end of 2025
- ECB extends lease of Japan Center until end of 2028
The European Central Bank (ECB) has signed a lease on the Gallileo building in Frankfurt as the new premises for its banking supervision staff. The relocation of staff from their current location in the Eurotower, as well as those banking supervisors working in the Japan Center, will take place by the end of 2025 when the lease on the Eurotower expires. The lease on the Japan Center, which also houses other ECB staff, has been extended to the end of 2028.
This move will ultimately allow the ECB to reduce its physical and environmental footprint by basing its operations in the main building in Frankfurt's Ostend district and the Gallileo building in the city centre. This consolidation will decrease the ECB's total energy consumption, supporting its energy efficiency objectives, and will allow for a more flexible cost structure.
As agreed between the city of Frankfurt and the owner of the Gallileo building, the English Theatre - a cultural landmark in Frankfurt - will return home to the building after renovations are completed.
