Governance charter
Board charter.
The Board protects OMNL's mandate, authority discipline, policy accountability, reserve stewardship, audit oversight, risk controls and public disclosure integrity.
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. |
| 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-basis 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. |
| 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. |