Formal strategy committees remain relatively rare

Boards of directors are widely used but specialist oversight committees are less common

Boards are a well-established means of oversight among the central banks that participated in the Governance Benchmarks 2021 data release. 

Fewer respondents, however, use more specialised committees to oversee specific areas of their operations. A clear majority, 79%, have a board of directors for governance functions and 62% have a supervisory or oversight board. 

For policy functions, 62% also have a financial stability board or committee. Just over half (53%) have one for monetary policy

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