Narodowy Bank Polski Clarifies Governance Rules and Governor's Essential Role
The Narodowy Bank Polski (NBP) has issued an official communiqué to address conflicting information regarding the governance of its Monetary Policy Council. The central bank emphasized that, according to Article 16 of the NBP Act, the Governor holds exclusive authority to convene meetings and preside over the Council's proceedings. The statement clarifies that while a designated member may temporarily substitute for the Governor during brief absences on the first day of a meeting, this role is limited to specific acts. Such substitutes do not possess the full legal powers or attributes conferred upon the Governor by law and internal regulations. This clarification underscores the NBP's commitment to its constitutional mandate of maintaining monetary stability. The bank asserts that the active participation of the Governor is a mandatory requirement for all collegiate bodies, including both the Monetary Policy Council and the Management Board.
Topics: Central Bank Regulations Governance Monetary Policy Poland
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