Most central banks still not using GRC systems

AE respondents more likely to favour integrated system versus EME counterparties, in a reverse to 2022

Most central banks do not use governance, risk and compliance (GRC) systems, although usage was higher among respondents to the Risk Management Benchmarks 2023 versus those that replied in 2022.

Of the 33 institutions that responded to this data query, 14 (42.4%) banks said they use a GRC system, up from 36.7% that confirmed usage in the past year.

The proportion of advanced economy (AE) central banks using a GRC doubled in 2023, with half of institutions saying they used such an integrated

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