Governing Bodies
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The governing bodies of the Banco de España, established in the Law of Autonomy (609 KB), are:
- The Governor
- The Deputy Governor
- The Governing Council
- The Executive Commission
The Governor (Miguel Fernández Ordóñez (69,8 KB))
He directs the Bank, presides its Governing Council and the Executive Commission, and is the Bank's legal representative at institutions and international organisations where he is expected to participate.
He is appointed by the King at the proposal of the Prime Minister. The mandate of the Governor and Deputy Governor is simultaneous, with a six-year term that is not renewable.
The Deputy Governor (José Viñals (56,0 KB))
He stands in for the Governor in the event the post is vacant or in the Governor's absence, and performs the duties established in the Bank's regulations or delegated to him by the Governor.
He is appointed by the Government at the proposal of the Governor. The mandate of the Governor and Deputy Governor is simultaneous, with a six-year term that is not renewable.
The Governing Council
Formed by:
- The Governor: Miguel Fernández Ordoñez (69,8 KB).
- The Deputy Governor: José Viñals (56,0 KB).
- Six Council Members: Jesús Leguina (49,0 KB), Guillem López (72,9 KB), Angel Luis López (68,5 KB), José María Marín (51,2 KB) , Vicente Salas (53,3 KB) y Ana Sánchez (49,5 KB).
- The Director General of the Treasury and Financial Policy: Soledad Núñez (52,2 KB)
- The Vice President of the National Securities Market Commission: Fernando Restoy (67 KB) .
- Secretary: The General Secretary of the Banco de Españña, as a non-voting participant: José Antonio Alepuz (52,6 KB)
- The Directors-General of the Bank, as non-voting participants: Javier Alonso (53,3 KB), Francisco Javier Aríztegui (53,6 KB), José Luis Malo de Molina (56,0 KB), José María Roldán (52,9 KB) y Pilar Trueba (51,9 KB)
- The Representative of the personnel, as a non-voting participant: Luciano Murias
The Governing Council approves the Bank's general guidelines for action, in particular:
- those relating to monetary policy, whose implementation it supervises;
- it approves the circulars issued by the Bank;
- it approves the proposed sanctions that the Bank must present to the Minister of Economy and Finance and imposes those sanctions that fall within its jurisdiction;
- it adopts the agreements necessary for carrying out the tasks assigned to the Banco de España that are not the exclusive responsibility of the Executive Commission.
The Council Members are appointed by the Government at the proposal of the Minister of Economy and Finance. The Governing Council ratifies the appointments of the Directors-General.
The Executive Commission
Formed by:
- The Governor: Miguel Fernández Ordoñez (69,8 KB).
- The Deputy Governor: José Viñals (56,0 KB).
- Two Council Members: Ángel Luis López (68,5 KB) and Vicente Salas (53,3 KB).
- Secretary: The General Secretary of the Banco de España, as a non-voting participant: José Antonio Alepuz (52,6 KB).
- The Directors-General of the Bank, as non-voting participants: Javier Alonso (53,3 KB), Francisco Javier Aríztegui (53,6 KB), José Luis Malo de Molina (56,0 KB), José María Roldán (52,9 KB) y Pilar Trueba (51,9 KB).
The Executive Commission, subject to the guidelines of the Governing Council:
- implements monetary policy,
- determines the administrative authorisations that must be granted by the Bank,
- informs credit institutions of its recommendations and requirements,
- informs credit institutions of the initiation of sanctioning procedures and other measures of intervention for which the Banco de España is responsible by law.
The two Council Members are appointed by the Governing Council at the proposal of the Governor