The Directorate (Governing Board) is a collegial body, subject to Articles 21, 22 and 23 of the Statute, that is made up of the Governor, the Director General and the three Deputy Directors General and authorized to adopt measures of external significance regarding the exercise of the public functions entrusted by law to the Bank in pursuit of its aims, other than decisions falling under the authority of the ESCB.
Resolutions are passed by an absolute majority of those present; where the numbers in a division are equal, the Governor has the casting vote. Minutes are kept of meetings.