In doing so, it will issue the necessary instructions to national central banks. • The national central banks will form an integral part of the ESCB and act in accordance with the guidelines and instructions issued by the ECB. In conducting operations within the ESCB’s field of competence, the ECB will rely on the national central banks whenever possible and appropriate.
• Finally, a so-called “General Council” will be constituted as a third decision-making body. It will assume responsibility for the coordination and exchange of information between the euro area and EU central banks which have not yet adopted the single currency, but will not exercise any influence on the monetary policy of the euro area.