The Governing Council
The Governing Council is the highest decision-making body in the Eurosystem and the ESCB. It consists of the six members of the ECB Executive Board and the governors of the national central banks of the euro area. The Council meets twice a month and monetary policy decisions are made at every second meeting. As Sweden has not adopted the euro, the Governor of the Riksbank is not a member of this Council.
The ECB Executive Board
The ECB Executive Board has six members who are appointed by the Heads of State or Government in the euro area. The Board is responsible for managing the ECB’s day-to-day business and for ensuring that the decisions of the Governing Council are implemented.
The ECB General Council
The ESCB has set up twelve committees (see below) with a large number of working groups covering different areas of operations. The national central banks have representatives in these groups, which mostly meet to provide the Governing Council with advice on issues regarding the Eurosystem. When issues are discussed within the field of the General Council, all of the central banks in the EU participate, including the Riksbank. All in all, the Riksbank participates in around 50 committees and groups within the ESCB.
Accounting and Monetary Income Committee |
Accounting
|
Banknote Committee |
Euro banknotes |
Banking Supervision Committee |
Finanacial stability |
External Communications Committee |
Information |
Internal Auditors Committee |
Auditing |
Internal Relations Committee |
International monetary and financial issues |
Information Technology Committee |
IT |
Legal Committee |
Legal issues |
Market Operations Committee |
Implementation of monetary and foreign exchange policy |
Monetary Policy Committee |
Forecasts and monetary policy |
Payment and Settlement System Committee |
Payment systems
|
Statistics Committee |
Statistics |