Latest benchmarking
Risk Management Benchmarks 2025 report – mind the techno-political gap
2025 is looking to be the year of volatility. Central Banking’s Risk Management Benchmarks 2025 show geopolitics was the fastest-rising concern of the past year, and 82.5% of respondents have reviewed their risk management over the same period. As well as political concerns, cyber attacks remain front of mind for risk managers. Central banks need to mind the gap between technological and geopolitical challenges and their own capabilities.
Privacy and security seen as greatest AI risks
Larger risk teams more likely to provide training to staff on risk types
Most central banks reviewed risk management in past year
Other aspects evaluated varied by risk team structure and departmental staff strength
Benchmarking
Cyber and geopolitical risks are managers’ top risks
Geopolitical risks seen rising fastest, but cyber is the biggest concern currently
Central banks keep ISO 31000 and COSO-ERM as main approaches
Principles tend to vary slightly by central banks’ risk management philosophies
Inter-bank working groups
Facilitating connections between central bankers across the globe to promote the exchange of expertise and support collaboration.
Upcoming meetings include: Cyber risk management, social media in communications and upgrading forecast models.
Model banks
Economics Benchmarks 2024 – model banks analysis
Currency Benchmarks 2024 – model banks analysis
Reserve Benchmarks 2024 – model banks analysis
Financial Stability Benchmarks 2024 – model banks analysis
Monetary Policy Benchmarks 2024 – model banks analysis
Payments Benchmarks 2024 – model banks analysis
Communications Benchmarks 2024 – model banks analysis
Governance Benchmarks 2024 – model banks analysis
Fintech Benchmarks 2024 – model banks analysis
Risk Management Benchmarks 2024 – model banks analysis
Economics Benchmarks 2023 – model banks analysis
Currency Benchmarks 2023 – model banks analysis
Charts
Key model elements
Former Fed chair Ben Bernanke urged the Bank of England to make several enhancements to its main forecast model in his 2024 review. Though the elements would add much realism to the model, benchmarking data shows that in most areas, his proposals are only in use at a handful of central banks.
To explore the data in more detail, use the benchmarking service’s interactive charts.
Reports
Risk Management Benchmarks 2025 report – mind the techno-political gap
Economics Benchmarks 2024 report – making models work
Currency Benchmarks 2024 report – securing cash payments
Reserve Benchmarks 2024 report – the challenge of diversification
Financial Stability Benchmarks 2024 report – seeking sounder banks
Monetary Policy Benchmarks 2024 report – back to normality?
Payments Benchmarks 2024 report – towards tokenisation
Communications Benchmarks 2024 report – emerging trends
Governance Benchmarks 2024 report – central banks’ core processes
Fintech Benchmarks 2024 report – the promise and threat of AI
Risk Management Benchmarks 2024 report – tech and turbulence
Economics Benchmarks 2023 report – tentative steps on AI
Benchmarks
Communications
Currency
Economics
Financial Stability
Fintech
Governance
Monetary Policy
Payments
Reserves
Risk Management
Central banks typically employ detailed business continuity plans
But institutional risk appetite is less commonly included, especially in Europe
A third of central banks lack key risk indicators
Most of those with KRIs conduct monitoring and employ feedback loops
Direct system breaches are top cyber risk
Main threats vary by cyber security staffing and economic groupings
Over 60% of risk departments face staff and resource shortages
Teams that face hiring challenges generally have to make do with smaller risk departments