The European System of Central Banks (ESCB) is composed of the European Central Bank (ECB) and the national banks of all 15 Member States, in addition to the members of the Eurosystem, the national banks of the Member States which did not adopt the euro at the start of Stage Three of Economic and Monetary Union (EMU). The ESCB is governed by the Governing Council and the Executive Board of the ECB, and, as a third decision-making body of the ECB, by the General Council.