Governance charter
Board charter.
The Board protects OMNL's mandate, authority discipline, policy accountability, reserve stewardship, audit oversight, risk controls and public disclosure integrity. Roles remain unpublished until an appointment instrument or comparable authority source is published.
Charter matrix
Core board controls
| Control | Public charter position |
|---|---|
| Legal authority | All powers require identifiable authority; exact constitutive references remain in the pending Legal Authority Register. |
| Purpose | Protect monetary stability, institutional independence, accountability, reserve integrity, risk management and public confidence. |
| Composition | Named officers are published; Governor/Deputy/MPC/Audit/Risk/Reserve committee appointments are pending full publication. |
| Appointment and terms | Appointment authority, instrument, term, expiration and reappointment eligibility must be recorded before a role is treated as fully substantiated. |
| Chair and secretary | Chair/Governor function pending publication; Secretary function currently associated with Teresa Lopez, but secretary status is not a substitute for Chair authority. |
| Quorum and voting | Quorum, voting thresholds, tie votes, written resolutions and emergency action require documented board procedure before relied upon publicly. |
| Recusal and conflicts | Conflicted decision-makers must recuse and conflicts must be recorded, escalated and reported. |
| Reserved powers | Mandate changes, monetary-policy authority, reserve authority, legal framework assertions, audit adoption, major risk decisions and DBIS authority changes remain reserved unless delegated in writing. |
| Delegated powers | Delegations must identify recipient, scope, limits, duration, conditions and technical DBIS enforcement where practical. |
| Monetary-policy powers | MPC or equivalent may decide policy only within assigned authority and published mandate constraints. |
| Reserve powers | Reserve deployment requires approved authority, custody evidence, valuation methodology, reconciliation and reporting. |
| Financial approvals | Material commitments require approval thresholds, segregation of duties and audit trail. |
| Audit and risk | Board oversees internal control, internal audit, external audit/assurance, enterprise risk, balance-sheet risk, operational risk and cybersecurity risk. |
| Remuneration | Remuneration categories and approvals are pending publication; related-party and conflict controls apply. |
| Information rights | Board and committees must receive sufficient, timely, accurate information to discharge duties. |
| Confidentiality | Protected monetary, reserve, counterparty, security and legal information must not be disclosed outside approved channels. |
| Minutes and dissent | Minutes must record decisions, authority, conflicts, dissent where requested, evidence reviewed and publication decisions. If dissent is not recorded, the absence should not be read as unanimity unless the vote record is published. |
| Performance, removal and vacancy | Performance review, removal grounds and vacancy handling remain pending full publication. |
| Amendment | Material charter amendments require enhanced governance review and publication-control update. |
Charter gaps
What still needs to be published
| Required item | Status | Public disclosure needed |
|---|---|---|
| Governor / Chair | Not published | Appointment instrument, term, authority source and succession rule. |
| Deputy / succession | Not published | Succession and temporary-vacancy rule. |
| Quorum and voting | Not published | Quorum threshold, voting rights and tie-break rule. |
| Removal and vacancy | Not published | Removal grounds and vacancy handling procedure. |
| Remuneration | Not published | Categories, approvals and disclosure basis. |
Public notice
Board and MPC backlog notice
Open the board and MPC backlog notice for the current appointment and voting gaps.