Benchmarking
Monetary policy staff pay highest in advanced economy institutions
Staff in monetary operations tend to earn slightly less than policy colleagues
Cash, not trash: the second lives of substrate
Central banks and their banknote providers are taking a range of approaches to recycling cash
Monetary policy set a maximum of 12 times a year
Frequency of meetings highest on average in upper-middle income economies
Quarterly forecast updates are the norm at central banks
Forecasting tends to be a collaborative exercise between staff and policy-makers
Monetary policy press conferences more common than minutes
High income institutions trail behind middle income banks on minutes publication
Corridor system used by most central banks to set rates
But methods vary widely depending on policy target and tools such as quantitative easing
Monetary policy and ops divisions mostly segmented
Nine in 10 institutions separate units in the Americas, Asia and Europe
Payments Benchmarks 2022 – executive summary
Key findings of the 2022 report, including the emergence of a novel digital payments landscape
Governance Benchmarks 2022 – presentation
Subject matter specialist Dan Hardie speaks with Chris Jeffery about governors, independence, funding and diversity
Covid impacting monetary policy most in middle income countries
Most central banks report shifting stance at the height of pandemic, but some have since reverted
Payments Benchmarks 2022 report – on the shores of a digital future
Benchmarking data offer insights on mandates, staffing structure, oversight of payment services, RTGS design and management, and CBDC development
Legal certainty: the Achilles’ heel for CBDCs?
Many central banks lack legal certainty when it comes to issuing digital currencies, despite all the research and trials. Isn’t it time to get the lawyers involved?
Filipe Dinis on Bank of Canada’s cyber strategy and tackling cyber risks
The Canadian central bank’s chief operating officer calls for heightened vigilance, more collaboration, info sharing and tabletop exercises, and less reliance on similar, siloed systems
Non-bank access to RTGS systems still rare
Only a handful of central banks allow non-bank users
Nearly 30% of central banks implementing instant payments
Over half of respondents already oversee or operate instant payments
Fintech Benchmarks 2022 – presentation
Central Banking’s fintech subject matter specialist Joasia Popowicz speaks with Chris Jeffery about strategy, staffing, cyber security, CBDCs, regtech and suptech, AI/ML and the cloud
High income countries have larger share of staff devoted to payments
Structure of central banks’ payments sections differs across institutions
Payments oversight more difficult in poorer nations
Lower income central banks more likely to feel they need more resources
Average RTGS system processes millions of payments yearly
Benchmarking data shows wide range of transaction volumes
Less than 10% of RTGS systems meet ISO 20022
Most non-compliant central banks plan to implement messaging protocol by 2025
Most central banks have oversight of non-bank payments systems
Less than half have oversight of non-bank fintech service providers