Risk departments propose benchmarks for reserve management at most central banks, the Reserve Benchmarks 2024 find.

The practice is most common among high income central banks, with 75% of them relying on risk departments. In upper-middle income countries, 45% of central banks use risk departments, while the figure drops for 40% for lower-middle income central banks.

As for approving the benchmarks, central banks’ boards are still the most common, with 50.9% of central banks giving this