The Governing Board is the supreme management and executive body. It shall represent the National Bank vis-à-vis the public and fulfil the accountability obligation pursuant to Article 7.
In particular, it shall perform the following tasks:
It shall take conceptional and operational monetary policy decisions.
It shall decide on the composition of the required currency reserves including the proportion of gold.
It shall decide on the investment of assets.
It shall exercise the monetary policy powers according to chapter 3.
It shall perform the tasks relating to international monetary cooperation.
It shall decide on the salaries of the staff at the head offices, branches and representative offices; staff are hired on the basis of private-law employment contracts.
It shall confer authority to sign and limited commitment authority on employees.
The allocation of the tasks shall be determined by the organisation regulations.
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