Narodowy Bank Polski Clarifies Governance Rules Regarding Governor's Role in Monetary Policy Council
Narodowy Bank Polski (NBP) has issued an official statement to clarify the legal requirements for its governance and the functioning of the Monetary Policy Council (MPC). The central bank emphasized that the Governor holds exclusive competence to convene MPC meetings and serves as the mandatory Chair. While a designated member may deputize during brief, non-decision-making periods, they cannot assume the full statutory responsibilities or regulatory competences of the Governor. The statement underscores that both the Monetary Policy Council and the NBP Management Board require the active participation of the Governor to function legally. This clarification comes in response to circulating information regarding the bank's ability to operate during a potential vacancy or absence of its leadership, asserting that official resolutions must be signed by the Chair.
Topics: Central Bank Regulations Monetary Policy Council NBP Governance