Benchmarking
Email and social media still top two-way comms channels
Only teams from Asia-Pacific central banks report use of live website chat
Press releases, conferences and website are top external channels
Email remains main tool for internal communications among central banks
One in five communications teams use AI for their work
Data suggests uses of AI are still at an initial stage among communications departments
Comms teams average less than 2% of central bank workforce
Majority of units operate centralised communications models
Governance Benchmarks 2024 – model banks analysis
Additional breakdowns of the data reveal details of central bank powers, staffing and more
Central banks reveal top staffing constraints
Career progression limits, skills gaps and red tape identified as challenges
Most high income central banks lack formal recapitalisation agreements
Seven respondents report launching recapitalisation in past year
Central banks’ profit distribution widely agreed with governments
Few institutions have arrangements with other parties or private shareholders
Two-thirds of central banks report profit in last fiscal year
Few institutions seek recapitalisation and technological advancement for operational goals
Board non-execs more likely to be appointed by governments
Middle income central banks tend to have more government officials on board
Central bank independence usually safeguarded by law
But one in 10 respondents see their autonomy threatened
Most central banks have policy independence
But some respondents provide details of pressure they have faced to change policy
Middle income central banks lag on diversity and green policies
But code of ethics and whistleblower schemes remain common standards
Governors’ salaries tend to rise with country income
Low income developing countries less likely to disclose data
African central banks most likely to manage sovereign wealth fund
FX reserve management, currency supply remain leading functions in most jurisdictions
Governors rarely removed by central bank boards
Ultimate responsibility broadly vested in heads of state, other government entities
Governors’ terms average just over five years
Central bank chiefs are typically allowed two consecutive terms in office
Around half of governments consult central banks on mandate reviews
Practice less likely to be found in Asia-Pacific and the Americas
Fintech Benchmarks 2024 – model banks analysis
Data reveals how advanced and emerging economy central banks structure their fintech functions
Fintech Benchmarks 2024 report – the promise and threat of AI
Benchmark data reveals how central banks are developing CBDC, tapping into AI tools and using cloud services to boost their work
Most central banks’ cloud services are software-focused
Operational environment is largely hybrid and public, while access to server is often domestic