The management system and organisational structure of the Czech National Bank The organisational sections of the headquarters and branches are managed as from 1 January 2002 by the Bank Board as a collective body. The executive directors of departments have also been given wider powers. They are responsible to the Bank Board for horizontal management and for conducting the activities delegated to them in line with the medium-term plans approved by the Board for specific areas of the central bank's activities. This method of management will allow the CNB Board members to devote more time to decision-making in the monetary policy area, i.e. direct fulfilment of the CNB's statutory objective, and to other issues of a conceptual and strategic nature.