One in five smaller central banks lacks fining powers
Respondents still widely manage FX reserves and act as lender of last resort
A fifth of smaller central banks lack powers to levy charges and fines on supervised financial institutions, the Governance Benchmarks 2026 finds.
Sixty-five respondents submitted overall workforce data, for an average of 1,346. Central banks with staff over that value are considered larger central banks. Those with lesser total staffing are categorised as smaller respondents.
Four-fifths of 47 smaller central banks are vested with powers to fine entities under their watch. However, nine of the
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