The General Council appoints the members of the Executive Board and decides on their salaries and other terms of employment. It also adopts the Riksbank’s Rules of Procedure and decides on the design of banknotes and coins. The General Council is appointed by the Riksdag after each general election, for a period of four years.
The General Council may present opinions within its field of competence on issues officially referred to the Riksbank for consideration. In consultation with the Executive Board, the General Council may present proposals to the Riksdag (Parliament) and the Government regarding statutory amendments or other measures in its sphere of responsibility.
The General Council presents proposals to the Riksdag and the Swedish National Audit Office regarding the allocation of the Riksbank’s profits.
The General Council of the Riksbank has its own audit unit which examines how the Executive Board members discharge their duties.