Sir Mervyn King is to come under increased scrutiny after an independent review was announced into the Bank of England's actions at the height of the financial crisis.
The move, announced by the bank's non-executive arm on Monday, comes after the governor admitted he and his colleagues were "late to the game" in tackling the banking collapse.
The bank's forecasting record will also be considered under one of three reviews, while ongoing plans for providing support to the banking sector will form another.
The Court of the Bank of England, which manages the affairs of the bank but does not deal in monetary policy, will commission the reviews before a major overhaul of financial regulation sees more power transferred to the bank.
Ian Plenderleith, chairman of investment company BH Macro and a former Bank of England official, will look at the supply of emergency cash to the banks in 2008/09.
Meanwhile, Bill Winters, who sat on the Independent Commission on Banking, will review current plans for supporting the banking system, while the former statistics chief at the US Federal Reserve, David Stockton, will probe the Monetary Policy Committee's forecasting methods.
The announcement comes after a former City minister labelled Sir Mervyn the "least distinguished" Bank of England governor in nearly 100 years.
Labour's Lord Myners said Sir Mervyn's time at the bank had been "one of considerable lack of distinction" and added the governor had "politicised the Bank of England".
The governor admitted earlier this month that more should have been done to avert the banking crisis and conceded the Bank of England should have "shouted from the rooftops" that banks had been allowed to borrow and lend too much.
"We were certainly late to the game in understanding the scale of the fragility in the banking system and the potential consequence when those risks materialised," he said.
Mr Plenderleith will look at the bank's actions at the height of the financial crisis, around the collapse of Lehman Brothers, to provide emergency cash to Royal Bank of Scotland and HBoS, the Bank Court said.
Mr Plenderleith will examine how the bank discharged its responsibilities as lender of last resort in a crisis and make recommendations for the conduct of any such operations in the future.
Mr Winters, a former investment banker, will make recommendations to inform the future development of the bank's operations, consistent with its objectives to implement the MPC's decisions and to provide back-up support to the UK banking system.
Finally, Mr Stockton will examine whether the MPC's forecasting procedures allow it to take full account of the relevant risks and uncertainties the economic outlook faces. The findings are due to be published in October.
Earlier this year, Sir Mervyn defended the bank's record despite it missing its inflation target for more than two years.
The governor said the UK would have suffered a much deeper recession had the bank raised interest rates to hit the 2% target.
The last time inflation was less than 1% away from the target was in December 2009, when it was 2.9%, and it has been 3% or above ever since.