Boards remain key body in benchmarking approval

In almost 60% of central banks the board makes final decision, investment committee in 29%

Boards remain the key executive body in central bank when it comes to approve benchmarks, data from the Reserve Benchmarks 2022 shows.

This key executive body has the final say in adopting a benchmark in 59% of participants, up from 58% in 2021.

However, the role of risk management departments experiences a relative decline. The share of central banks in which these departments propose the benchmarks declines from 52% in 2021 to 44% this year.

Additionally, investment committees are also less

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