The Governing Council
consists of
- the six members of the Executive Board, plus
- the governors of all the national central banks (NCBs) from the
12 euro area countries.
Members of the Governing Council
Responsibilities
-
to adopt the guidelines and take the decisions necessary to ensure the performance of the tasks entrusted
to the Eurosystem;
-
to formulate monetary policy for the euro area. This includes decisions
relating to monetary objectives, key interest rates, the supply
of reserves in the Eurosystem, and the establishment of guidelines
for the implementation of those decisions.
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Meetings and decisions
The Governing Council usually meets twice a month at the Eurotower in Frankfurt am Main, Germany.
At its first meeting each month, the Governing Council assesses monetary and economic developments and takes
its monthly monetary policy decision. At its second meeting, the Council discusses issues related to other
tasks and responsibilities of the ECB and the Eurosystem.
The minutes of the meetings are not published, but the monetary policy decision is announced at a press conference
held shortly after the first meeting each month. The President, assisted by the Vice-President, chairs the press conference.
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Members
-
-
-
-
-
-
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Guy Quaden, Governor, Nationale Bank van België / Banque
Nationale de Belgique
-
Axel A. Weber, President, Deutsche Bundesbank
-
Nicholas C. Garganas, Governor, Bank of Greece
-
Jaime Caruana, Governor, Banco de España
-
Christian Noyer, Governor, Banque de France
-
John Hurley, Governor, Central Bank & Financial Services Authority of Ireland
-
Antonio Fazio, Governor, Banca d'Italia
-
Yves Mersch, Governor, Banque centrale du Luxembourg
-
Nout Wellink, President, De Nederlandsche Bank
-
Klaus Liebscher, Governor, Oesterreichische Nationalbank
-
Vítor Manuel Ribeiro Constâncio, Governor, Banco
de Portugal
-
Matti Louekoski, acting Governor, Suomen Pankki - Finlands
Bank
-
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Legal basis
See Article 10 of the Statute (of the European System of Central Banks and of the European Central Bank) for
provisions regarding the Governing Council.
Article 10.1: "In accordance with Article 109a (1) of this Treaty, the Governing Council shall comprise
the members of the Executive Board of the ECB and the governors of the national central banks."
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