The Central Bank of Cyprus will host, for the first time in Cyprus, a regular meeting of the Supervisory Board of the European Central Bank (ECB) on May 16-17.

According to a statement from the Central Bank, the Supervisory Board discusses, plans, and executes the ECB's supervisory tasks. The ECB directly supervises significant institutions in each eurozone country and other participating EU member states.

The Board comprises the Chair, the Vice-Chair, four ECB representatives, and representatives from national supervisory authorities.