Governance 2025
Bill seeking greater oversight over BI is diluted – report
Lawmakers would not be able to remove central bank leaders but would have more supervisory powers
Governance Benchmarks 2025 – executive summary
Data shows strong independence with threats in some areas, and sheds light on staffing, mandates and more
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
Two-thirds of central banks regularly audit policy processes
Internal and external audit functions are combined in most jurisdictions
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
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