The Executive Board consists of the ECB President and Vice-President, together with 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 ECB's day-to-day business;
- 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.
