Role of boards differs widely across central banks
All benchmark respondents have boards, but powers and responsibilities show great variety
Central banks agree on the importance of an oversight board, the Governance Benchmarks 2022 indicate. All of the central banks that responded have a board that functions as a governance or oversight body.
Among the respondents, the median number of board members overseeing a central bank is 5, and the mean figure is 7.7.
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Additional breakdowns of the data reveal details of central bank powers, staffing and more
Governance Benchmarks 2024 report – central banks’ core processes
The benchmarks shed light on central bank profitability and distributions, independence 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