Governance
Governance Benchmarks 2023 report – the frameworks that underpin central banks
Data reveals differences in profits, appointments and policies among EMEs and advanced economies
The Governance Benchmarks 2023 presents original data on how central banks are organised and overseen. To fulfil their mandates, central banks need both operational independence and the confidence of the jurisdictions that they serve. This is true at all times, but perhaps especially so during periods of economic instability. This third Governance report is based on the responses of 43 central banks, the largest number of institutions to have taken part so far.
Charts
Policy choices
Central banks from advanced economies are more likely to have internal policies governing sustainability and diversity/inclusion. Globally, only a code of ethics is found at 100% of respondents to the benchmarks.
For the full breakdown, use the benchmarking service’s interactive charts to explore the data.
Governance data
View the full breakdown of responses to the Governance Benchmarks.
Previous years
Governance 2023
Governance 2022
Governance 2021
Governance Benchmarks 2023 – presentation
Subject matter specialist Dan Hardie discusses central banks’ powers, governors, profits and staffing
Governance Benchmarks 2023 – executive summary
Data shows EMEs and advanced economies differing in profits, appointments and policies
Governance Benchmarks 2023 report – the frameworks that underpin central banks
Data reveals differences in profits, appointments and policies among EMEs and advanced economies
Few central banks report recruitment difficulties
Central banks from emerging market countries more likely to say they face problems finding staff
Advanced economy central banks more likely to make profits
Majority of central banks report profits in most of last five years
Central banks differ on profit-sharing agreements
Advanced economy central banks more likely to have formal agreements on profit distribution
Most central banks satisfied with policy autonomy
EME central banks say they are more likely to face pressure over monetary policy
Some internal policies differ by country income
Central banks likely to have ethics codes and whistleblower policies regardless of national income
Most central banks disclose governors’ salaries
Governors’ salaries show moderate correlation with countries’ per capita GDP
Boards’ make-up differs across jurisdictions
Emerging market economy boards more likely to include government officials and ministers
Governance Benchmarks 2023 charts
Take a deep dive into the Governance Benchmarks charts, which have just been released for 2023
Countries vary on governor appointment powers
Poorer countries more likely to combine powers, while richer ones split responsibilities