The Governor and the two Deputy Governors are appointed by a Presidential Decree on a proposal of the Council of Ministers, following a proposal by the General Council of the Bank, for a term of six years.
The Governor chairs the meetings of the General Council and of the Monetary Policy Council and participates in the Executive Committee, he represents the Bank before judicial authorities, he exercises, on behalf of the General Council, permanent control of the management of the Bank’s assets and general business and decides on any matter not specifically reserved to the Executive Committee, or the General Council or the Monetary Policy Council or not governed by regulations issued by these Councils. He also participates in the General Council and the Governing Council of the European Central Bank. With the exception of matters specifically assigned to the Monetary Policy Council, the Governor decides on all other matters falling within the tasks of the European System of Central Banks. The Governor may delegate any of his duties to any of the Deputy Governors.
The senior Deputy Governor replaces the Governor when absent or unable to be present to the full extent of his duties.
Articles 29-35 of the Statute