The governing council of the European Central Bank held its inaugural meeting

Date: 11/06/1998

this week and settled a series of 'housekeeping' issues. The 17-member council set the fees to be charged for the use of its cross-border system for settling intra-day debts between banks. They also established the institution's 1998 budget and the amounts of capital each national central bank will have to pay in, and named former Bundesbank press officer Manfred Körber as the bank's chief spokesman. ECB president Wim Duisenberg indicated that the bank would establish a target for money supply growth to guide policy.