The Executive Board consists of the ECB President, the Vice-President and four other members, all appointed by the European Council by a qualified majority.
Its main responsibilities are:
- To prepare Governing Council meetings;
- To implement monetary policy in accordance with the decisions taken by the Governing Council. In so doing, it gives the necessary instructions to the Eurosystem’s national central banks;
- To manage the day-to-day business of the ECB;
- To exercise certain powers delegated to it by the Governing Council. These include some of a regulatory nature.
The Executive Board usually meets at least once a week, to decide on the implementation of monetary policy, prepare Governing Council meetings and address the ECB’s internal matters.
