Benchmarking
Do central banks need more tools to regulate the financial system?
Policy-makers from Armenia, Thailand and New Zealand share perspectives on how to keep up with the ever-changing industry
Governance Benchmarks 2025 report – independence amid turbulence
Benchmarks highlight pressures on independence but most say protections are sufficient
Central banks report high levels of independence
Institutions across regions and income groups report significant autonomy from political interference
Salary still poses greatest challenge for recruitment
Staff morale constitutes lowest constraint but is a concern for some central banks
Over 40% of central banks lack formal recapitalisation agreement
Ten banks were recapitalised in the past year
Some central banks report pressure to change monetary policy
Central banks mention financial and political factors impacting independence
One in five central banks pays unrealised gains to government
Most central banks have a formal agreement in place for sharing profits with government
Agent-based models come of age
Central banks are increasingly modelling the economy as a complex system
Larger central banks more likely to have diversity policy
Boards with appointment powers more often focus on diversity
Most governing boards operate under charters
Strategy-setting and budget approval are boards’ top responsibilities
Can central banks cut remittance fees to sustainable levels?
More action is needed to reach the UN’s 3% global average cost target. But central banks face limits on what they can do
One in three central banks operate supervision committee
Government officials’ membership on boards still rare
Governors serving limitless terms tend to earn lower salaries
But governors’ average salary remains over $200,000 a year
Most governors lack legal immunity against prosecution
One-fifth of removable central bank governors shielded from legal actions
Governors serve unlimited terms in half of central banks
While term length averages five years, majority of governors can be dismissed early
Smaller central banks more likely to manage government debts
Consumer protection widely overseen in larger institutions
Half of central banks must be consulted on law changes
Practice is slightly more common at banks with government officials on the board
Fintech Benchmarks 2025 – model banks analysis
Data breakdown reveals differences in CBDC research, AI use and adoption of the cloud
Fintech Benchmarks 2025 – executive summary
Benchmarks shed light on research priorities, progress with CBDC and use of cloud
Central banks widely exploring RTGSs’ interoperability with CBDCs
High income institutions more likely to research the issue than their middle income counterparts
Half of institutions have a central data collection centre
Respondents with data collection system more likely to automate regulatory filings
Flexibility and business continuity seen as key benefits of cloud services
But three in four fintech teams point at privacy as concern
Central banks more likely to use software-based cloud services
Cloud widely used for cyber security and other applications
AI spreads further among fintech teams
Centralised fintech teams more likely to apply AI/ML to sentiment analysis