The Bank Council shall oversee and control the conduct of business by the National Bank, notably regarding compliance with the Act, regulations and directives.
In particular, it shall perform the following tasks:
It shall lay down the internal organisation of the National Bank; notably, it shall issue the organisation regulations and submit these to the Federal Council for approval.
It shall decide on the opening or closing of branches, agencies and representative offices.
It may set up advisory councils at the bank offices for observing the economic situation in the regions.
It shall approve the level of provisions.
It shall oversee the investment of assets and risk management.
It shall approve the annual report and the annual accounts for submission to the Federal Council and the Shareholders’ Meeting.
It shall prepare the Shareholders’ Meeting and implement its resolutions.
It shall draw up the proposals for the election of the members of the Governing Board and their deputies and may submit petitions for the removal of any such elected persons to the Federal Council.
It shall appoint the members of the management at the head offices, branches and representative offices; they shall be employed on the basis of private-law employment contracts.
It shall lay down the remuneration of its members and the salaries of the members of the Governing Board in a set of regulations. Article 6a paragraphs 1–6 of the Federal Personnel Act of 24 March 20001shall apply mutatis mutandis.
It shall lay down the principles for the salaries of staff members in salary regulations.
It shall lay down the rules on the legally binding authority to sign on behalf of the National Bank in a set of regulations.
The Bank Council shall pass decisions in all matters not allocated to another body by statute or the organisation regulations.