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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.
Some payment departments struggle with staffing capacity
Payment teams from Africa and the Americas report highest staff shortage
Payments units have median staffing of 30 FTE personnel
Central banks say they are boosting staff numbers to keep pace with evolving technology
Three-fifths of central banks use strategic progress monitoring tools
Respondents with wider set of objectives report highest usage of tools
Central banks increasingly use KPIs for strategic planning
Practice more widespread in jurisdictions that link annual reviews to all staff