About us

The Executive Commission

The Executive Commission of the Banco de España, subject to the guidelines of the Governing Council:

  • Implements monetary policy.
  • Determines administrative authorisations to be granted by the Bank.
  • Makes recommendations and requests to credit institutions.
  • Determines intervention measures and the replacement of directors or other measures that have been vested by law to the Banco de España.


The Executive Commission is formed by:

The Directors-General of the Banco de España (Alejandro Álvarez, Juan Ayuso, Ángel Estrada, Ángel Gavilán, Mercedes Olano and Alberto Ríos) attend its meetings as non-voting members.

The General Secretary of the Banco de España (Francisco Javier Priego) acts as non-voting Secretary to the Executive Commission.