The Steering Committee comprises representatives of the funding institutions, at present the European Central Bank and the National Central Banks of the Eurosystem. It is the decision-making body for all matters related to the Network as a whole and is responsible for monitoring progress against the stated aims, objectives and mission of the EABCN. In this way its role is part administrative and part scientific. It appoints the Scientific Committee and the Chair of the Scientific Committee, discusses and approves the work plan and the budget.
The role of the Steering Committee is to:
- Review and comment upon the network activities for the previous year;
- Discuss and approve the proposed activities for the forthcoming year;
- Discuss and agree the longer-term research and development strategy for the network, as put forward by the Executive Group via the Scientific Chair;
- Maintain budgetary oversight of the network; ie, approve the annual budget;
- Agree the business model and fee for membership(s) of the network;
- Identify and agree potential new network members;
- Propose and discuss new initiatives and activities (with appropriate input from the scientific and business representatives – see next paragraph).