The term of office of Banco de España’s new governor begins.

Banco de España’s new governor begins his term of office today. Pablo Hernández de Cos, former Director General of Economics and Statistics, now takes the institution’s reins for the next six years, in replacement of Luis M. Linde, whose term of office has expired.

Hernández de Cos therefore becomes the 70th governor of this historic institution, culmination of a long list of governorsAbre en ventana nueva that goes back to 1856.

Banco de España’s governing bodies (that appear coloured on the chart) are regulated by the Law on Autonomy of Banco de España of 1994. According to this Law, the governor shall be appointed by the King, following a proposal of the President of the Government. Nominees shall be Spanish and will have recognised competence in monetary or banking matters. The governor’s term of office will have a duration of six years and will be non-renewable for the same position.

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