Central Bank Transparency Code Review— Guidance Note

Central Bank Transparency Code Review— Guidance Note
Title Central Bank Transparency Code Review— Guidance Note PDF eBook
Author International Monetary Fund. Monetary and Capital Markets Department
Publisher International Monetary Fund
Pages 40
Release 2023-11-17
Genre Business & Economics
ISBN

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This document provides guidance and practical suggestions for conducting reviews of the Central Bank Transparency Code (CBT) to IMF staff and experts conducting reviews, as well as to the central banks participating or intending to participate in the CBT review.

The Central Bank Transparency Code—Findings Of The Pilot Reviews

The Central Bank Transparency Code—Findings Of The Pilot Reviews
Title The Central Bank Transparency Code—Findings Of The Pilot Reviews PDF eBook
Author International Monetary Fund. Monetary and Capital Markets Department
Publisher International Monetary Fund
Pages 32
Release 2023-03-15
Genre Business & Economics
ISBN

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This paper reports to the Executive Board on the outcomes of the Central Bank Transparency Code (CBT) pilot reviews. The pilot CBT reviews helped central banks evaluate their transparency practices and strengthen dialogue with external stakeholders. The CBT pilots provided valuable information on the resources required for the reviews going forward. Staff will continue to offer CBT reviews to the rest of the membership. The staff will report back to the Board in FY2026 on the progress of the CBT reviews and an update to the Code following five years of implementation.

The Central Bank Transparency Code

The Central Bank Transparency Code
Title The Central Bank Transparency Code PDF eBook
Author International Monetary Fund. Monetary and Capital Markets Department
Publisher INTERNATIONAL MONETARY FUND
Pages 132
Release 2020-07-30
Genre Business & Economics
ISBN 9781513551814

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The paper reports to the Executive Board on its decision of April 29, 2019, to prepare an IMF Central Bank Transparency Code (CBT), which is linked to the 2017 Review of the Standards and Codes Initiative (RSCI), for a revision and update of the 1999 Monetary and Financial Policies Transparency Code (MFPT). Directors asked that the CBT should remove the overlap on financial policies covered by other international standards, expand the transparency standards to broader set of activities undertaken by many central banks since the 2008 financial crisis, and reorient the transparency standards to facilitate risk-based assessments to support policy effectiveness and address macroeconomic risks.

Staff Guidance Note on Macroprudential Policy

Staff Guidance Note on Macroprudential Policy
Title Staff Guidance Note on Macroprudential Policy PDF eBook
Author International Monetary Fund
Publisher International Monetary Fund
Pages 45
Release 2014-06-11
Genre Business & Economics
ISBN 1498342620

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This note provides guidance to facilitate the staff’s advice on macroprudential policy in Fund surveillance. It elaborates on the principles set out in the “Key Aspects of Macroprudential Policy,” taking into account the work of international standard setters as well as the evolving country experience with macroprudential policy. The main note is accompanied by supplements offering Detailed Guidance on Instruments and Considerations for Low Income Countries

Chile: Central Bank Transparency Code Review

Chile: Central Bank Transparency Code Review
Title Chile: Central Bank Transparency Code Review PDF eBook
Author International Monetary
Publisher International Monetary Fund
Pages 108
Release 2021-06-16
Genre Business & Economics
ISBN 1513573225

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The Central Bank of Chile (CBC) has implemented broadly advanced transparency practices. This reflects the CBC’s strong public commitment to transparency, which is anchored in the law and has been designated by the CBC as a strategic objective to fulfill its mandate. This policy has earned the CBC the broad trust of its stakeholders and has paid significant dividends for the CBC in terms of safeguarding its autonomy and ensuring its policy effectiveness.

Uganda

Uganda
Title Uganda PDF eBook
Author International Monetary Fund. Monetary and Capital Markets Department
Publisher International Monetary Fund
Pages 96
Release 2023-02-16
Genre Business & Economics
ISBN

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The Bank of Uganda (BOU) is implementing transparency practices that are broadly aligned with the good practices for central banks. The BOU’s initiatives on a comprehensive communication strategy and broad use of tools underpin the commitment to transparency and its accountability for the price stability mandate. The BOU seeks to improve public accountability and intends to use the results of the CBTC review to further improve its communications and transparency practices.

External Audit Arrangements at Central Banks

External Audit Arrangements at Central Banks
Title External Audit Arrangements at Central Banks PDF eBook
Author Mr.Atilla Arda
Publisher International Monetary Fund
Pages 42
Release 2018-09-11
Genre Business & Economics
ISBN 1484375505

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This paper takes stock of external audit arrangements at central banks. Its focus is on the annual audit of central bank financial statements, as well as legal and institutional measures that support audit quality and independence. The paper outlines good practices in these areas and provides a summary of actual practices observed based on a review of audited financial statements and central bank legislation. While the audit frameworks for central banks differ depending on their legal and institutional circumstances, central banks’ external audits increasingly follow international standards. Most of them are audited by auditors with international affiliations and embrace modern governance structures that provide for audit oversight. However, the paper also notes that a sizeable number of central banks do not publish the audit results in a timely manner, which leaves room for improvement in transparency practices.