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Law impacts independence
The benchmarks data highlights a link between central banks that report issues with the scope or wording of their governing law and their degree of independence. Key issues seem to relate to financial matters, including lending to government and financial resources. The red bars show the difference between those that report issues with the law and those that do not – for those facing issues, independence is lower in every category.
For the full breakdown, use the benchmarking service’s interactive charts to explore the data.
Governors still lack immunity
Benchmarks data gives mixed picture on the protections officials can expect from criminal and civil actions
Independence lower where central banks face legal issues
Financial independence a bigger problem where central banks say law is inappropriately worded
Pensions and staff morale least likely to constitute staffing challenge
Degree of concern varies by size of central bank
Half of central banks prohibit senior officials’ shareholdings
Minority of respondents working to adopt other internal policies