Heads of state often play key role in governor appointments
Benchmark respondents say governors’ terms last four to seven years
At the central banks that responded to the Governance Benchmarks 2022, the median length of a governor’s term was five years.
Terms ranged between four and seven years. Governors can serve a median of two consecutive terms.
Governments’ procedures for appointing governors at the responding central banks divided almost equally into two models.
Of the 29 central banks that answered this question, a small majority (52%) said one authority both nominates and confirms the governor. The other 48
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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