Abstract
The Central Bank is the only monetary policy-making and policy-executing entity in the Republic of China. Its organization structure is split into two independent entities: The decision-making body and the decision-executing body. The decision-making body, which is more important, is composed of three parts, the Board of Directors, the Board of Supervisors and the Governor & Deputy Governors. The board of Directors is the highest decision making body of the Bank. It consists of eleven to fifteen directors nominated by the Cabinet (Executive Yuan) and appointed by the President. Five to seven directors of the Board are designated as Executive directors. According to the Central Bank of China Act, the Governor of the Central Bank, the Minister of Finance and the Minister of Economic Affairs are the ex-officio directors and executive directors. All Directors, except the ex-officio directors, are appointed for a term of five years and can be reappointed upon the expiration of their term. The Board meets four times a year. Currently, the Board consists of fifteen members, of whom six are concurrently executive directors.
