The European Central Bank is constructing a shelter at its Frankfurt headquarters to serve in case of terrorist attacks such as those that hit New York and Washington, ECB president Mr Wim Duisenberg said yesterday.

"The construction of our disaster stand-by facility is about to be finished," he said during testimony before European Parliament's Economic and Monetary Affairs Committee.

He declined to give details of the shelter's location, saying only that it would allow the ECB to continue normal activities in case of need.