Benchmarking
Risk Management Benchmarks 2022 report – assuming new responsibilities
Insights on risk priorities among central banks, the response to the pandemic, changes in organisational structures and the importance of climate change risk
Two-thirds of central banks have a centralised risk unit
Central banks with a centralised risk unit tend to use KRIs
Risk management salaries tend to increase with team size
Median salary among respondents was $30,000
Currency Benchmarks 2021 – presentation
Central Banking’s currency subject matter specialist Rachael King speaks with Chris Jeffery about circulation, impact of Covid-19, forecasting, costs and resourcing, security and design, sustainability, and more
Responsibilities and risk management changed at 43% of central banks
Responsibilities modified over last two years required parallel developments in risk management
Minority of central banks define project risk appetite
Institutional risk and delegated risk appetites defined more often
Financial risk most staffed function
Risk management team sizes vary considerably between central banks
Over half of central banks have a chief risk officer
Most have a risk management committee
Minority of central banks use GRC platforms
RSA Archer and SAP named as providers
ISO 31000, COSO-ERM are influential risk management approaches
IOWRG, Basel and NIST also used by central banks
Over half of central banks modified collateral policies during the pandemic
Most reduced haircuts on banks’ collateral
Few central banks cover environmental risk
Central banks list environmental risk as a minor source of risk
Cyber security risks rose most in the past year
Operational and market risks also increased
Reputational risk tops central bank concerns
Cyber security and credit/counterparty risk followed
Material world: the enduring appeal of paper banknotes
Central banks have used space-age polymers to make banknotes for decades. So why does paper remain predominant in banknote production?
Economics Benchmarks 2021 report – executive summary
Covid-19 coloured central banks’ views on the governance of their economics function in the past year, from research topics to forecasting, data, publications and more
2021: The year in review
The year has seen central banks switch from recovery mode to battling inflation. Central Banking looks back at the stories that made the biggest impact in 2021
Economics Benchmarks 2021 report – making sense of the modern economy
Covid-19 coloured central banks’ views on the governance of their economics function in the past year, from research topics to forecasting, data, publications and more
Larger research teams tend to publish more
Central banks with bigger teams report greater publishing volumes, but variation remains
Advanced economies draw on wider range of models
DSGE models and newer techniques more common at advanced economy central banks
Reserve Benchmarks 2021 – presentation
Central Banking’s reserve subject matter specialist Victor Mendez-Barreira speaks with Chris Jeffery about liquidity, reserves coverage, external partners, human and tech resources, and ESG implementation
The matter of minutes: Why open up private deliberations?
Many central banks publish records of MPC meetings, but far fewer publish vote tallies. Where should public scrutiny stop?
Financial Stability Benchmarks 2021 – presentation
Central Banking’s governance subject matter specialist Dan Hardie speaks with Christopher Jeffery about policy committees, governor salaries and terms, and board compositions and functions
Quarterly forecast updates predominate
Frequency of forecasts varies more widely in emerging markets