Governance
Non-executive directors earn five times less than governors
NEDs work an average of 14 hours weekly, Governance Benchmarks 2026 find
Roughly 40% of central banks lack a monetary policy committee
Governing boards remain widely responsible for setting overall strategy
People: Austria nominates IMF executive director
Plus: Turkey’s former governor joins Canadian finance firm; new Bulgarian deputy nominated
One in six central banks is being recapitalised
Process is ‘not as smooth as we would want it to be’, benchmark respondent says
Governors of smaller central banks earn slightly below global average
But governors’ salaries remain above $200,000 a year
European governors serve longest average term length
Central bank governors rarely appointed for one term or 3+ terms
One-fifth of central banks say governing laws are inappropriate
Government still sets salaries at one-tenth of jurisdictions
Fed watchers welcome court ruling on Powell
However, expert says DoJ’s appeal against decision could thwart Warsh’s confirmation as Fed chair
Hélène Rey to head BIS monetary and economic department
Scholar of international monetary system will replace Hyun Song Shin later this year
One in five smaller central banks lacks fining powers
Respondents still widely manage FX reserves and act as lender of last resort
Bundesbank gives up on renovating old headquarters
Bank to buy new HQ as renovation and maintenance would have cost too much
NBU tells banks to avoid Hungary after cash and gold heist
Hungarian government official explicitly ties asset seizure to dispute over stricken oil pipeline
Nearly 450 staff to leave BoE under cost-cutting plans
Central bank says it is targeting £45 million in savings this year
Suspended BCB officials named in Banco Master probe
Former member of rate-setting committee allegedly provided advice to owner of collapsed lender
Bangladesh Bank faces fresh questions over independence
Experts question governor’s affiliations after activists petition Supreme Court to have him removed
Book notes: The doom loop, by Eswar S Prasad
A persuasive analysis of a new world disorder that will bring an end to central bank independence
ECB’s Donnery casts doubt over mooted competitiveness mandate
Secondary objective would ‘muddy the waters’ about bank’s role as supervisor, board member says
Bank of Russia sues EU in Luxembourg over asset freeze
Legal battle between Moscow and Brussels continues as bank reserves stay immobilised
Swiss National Bank’s profits down in 2025
Losses on FX holdings dwarfed by gold gains to enable bank to post Sfr26.1 billion profit
People: Braddick to take charge at UK’s prudential watchdog
Plus: BoE also appoints first executive director for monetary policy
Norges Bank makes Nkr26.2bn loss on back of appreciating krone
Annual report says bank is continuing to modernise settlement system and research CBDC