be legal tender varied from member state to member state. The earliest date was in Germany, where the mark officially ceased to be legal tender on 31 December 2001, though the exchange period lasted for two months more. Even after the old currencies ceased to be legal tender, they continued to be accepted by national central banks for periods ranging from ten years to forever. Design changes Notes printed before November 2003 bear the signature of the first president of the European Central Bank, Wim Duisenberg, who was replaced on 1 November 2003 by Jean-Claude Trichet, whose signature appears on issues from November 2003 to March 2012. Notes issued after March 2012 bear the signature of the third president of the European Central Bank, Mario Draghi. As of June 2012, current issues do not reflect the expansion of the European Union. Cyprus is not depicted on current notes as the map does not extend far enough east and Malta is also missing as it does not meet the current series' minimum size for depiction. The European Central Bank is currently introducing a new series of euro banknotes. The 500-euro denomination, however, will not be included in the new series as it was decided to phase out issuance of 500-euro banknotes. End of production and issuance The European Central Bank announced on 4 May 2016 that it would stop issuing the 500-euro notes by the end of 2018. This decision is due to the suspicion that the notes are widely used for illegal purposes, according to a high-ranking bank official, Benoît Cœuré. The notes were last printed in 2014 and the demand was satisfied since from stocks. On 27 January 2019, 17 of 19 Eurosystem's central banks stopped issuing and distributing €500 banknotes. To ensure a smooth transition and for logistic reasons, the Deutsche Bundesbank and the Oesterreichische Nationalbank opted for longer period and issued banknotes until 26 April 2019. Circulating 500-euro notes remain legal tender and can continue to be used as a means of payment and store of value until further notice. Banks, bureaux de change and other commercial parties can keep recirculating the existing notes. The date when euro banknotes of the first series cease to be legal tender will be announced "well in advance" by ECB. Banknotes will always retain their value and can be exchanged for an unlimited period of time at the Eurosystem central banks.