The Governing Council of the Banco de España approves the Bank’s general operating guidelines. Its other competences include:
- Discussing matters relating to monetary policy and supervising the Bank’s role in the conduct of the monetary policy of the European System of Central Banks.
- Approving Banco de España circulars.
- Imposing sanctions within its areas of competence.
- Adopting any other resolutions as necessary for the performance of any tasks entrusted to the Banco de España that are not the exclusive competence of the Executive Commission.
The Governing Council ratifies the appointment of the Directors-General of the Banco de España.
