All members are appointed by the European Council, acting by a qualified majority.
to prepare Governing Council meetings;
to implement monetary policy for the euro area in accordance with the
guidelines specified and decisions taken by the Governing Council. In
so doing, it gives the necessary instructions to the euro area NCBs;
to manage the day-to-day business of the ECB;
to exercise certain powers delegated to it by the Governing Council. These
include some of a regulatory nature.