{
  "title": "Update The Monetary And Financial Policies Transparency Code",
  "publication": "Policy Papers, May 13, 2019",
  "sourceUrl": "https://www.imf.org/en/publications/policy-papers/issues/2019/05/13/update-the-monetary-and-financial-policies-transparency-code-46885",
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  "summary": "The paper responds to a request made by the Executive Board at the time of 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).",
  "sections": [
    {
      "heading": "Purpose and context",
      "content": "- Responds to a request made by the Executive Board at the time of 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).\n- Directors asked staff that the new code:\n  - remove the overlap on financial policies covered by other standards,\n  - expand the transparency standards to broader set of activities undertaken by many central banks since the Global Financial Crisis,\n  - reorient the transparency standards to facilitate risk-based assessments to support policy effectiveness and address macroeconomic risks."
    },
    {
      "heading": "Summary of substantive focus",
      "content": "- Core objective: update the MFPT to reflect post-Global Financial Crisis central bank activities and to improve the code’s suitability for risk-based assessments.\n- Emphasis on aligning transparency standards with other standards to avoid policy overlap."
    },
    {
      "heading": "Publication metadata and identifiers",
      "content": "- Publication title: Update The Monetary And Financial Policies Transparency Code\n- Publication date: May 13, 2019\n- Pages: 48\n- Volume: 2019\n- Issue: 011\n- Series: Policy Paper No. 2019/011\n- DOI: https://doi.org/10.5089/9781498314503.007\n- Stock No: PPEA2019011\n- ISBN: 9781498314503\n- ISSN: 2663-3493"
    },
    {
      "heading": "Subject areas and keywords",
      "content": "- Subject: Banking, Central bank accountability, Central bank governance, Central bank mandate, Central bank transparency, Central banks, Financial crises, Global financial crisis of 2008-2009\n- Keywords: CBT assessment, CBT code, central bank, Central bank accountability, Central bank governance, Central bank mandate, Central bank transparency, Global, Global financial crisis of 2008-2009, IMF Executive Board reviews proposal, IMF program context, monetary policy, PP, support IMF surveillance"
    },
    {
      "heading": "Access and formats",
      "content": "- Available format noted: Download PDF\n- Citation example provided in Chicago format: International Monetary Fund. Monetary and Capital Markets Department \"Update The Monetary And Financial Policies Transparency Code\", Policy Papers 2019, 011 (2019), accessed 9/19/2026, https://doi.org/10.5089/9781498314503.007\n\nInternational Monetary Fund. Policy Paper No. 2019/011, \"Update The Monetary And Financial Policies Transparency Code\", May 13, 2019.\n\n---\n\n Content in this bundle\n\n- Policy Paper\n  - Policy Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Policy Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/policy-papers/issues/2019/05/13/update-the-monetary-and-financial-policies-transparency-code-46885"
    }
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    "Published: May 13, 2019",
    "Series: Policy Papers",
    "DOI: https://doi.org/10.5089/9781498314503.007",
    "Responds to a request made by the Executive Board at the time of 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 staff that the new code:",
    "Core objective: update the MFPT to reflect post-Global Financial Crisis central bank activities and to improve the code’s suitability for risk-based assessments.",
    "Emphasis on aligning transparency standards with other standards to avoid policy overlap.",
    "Publication title: Update The Monetary And Financial Policies Transparency Code",
    "Publication date: May 13, 2019",
    "Pages: 48",
    "Volume: 2019",
    "Issue: 011",
    "Series: Policy Paper No. 2019/011",
    "DOI: https://doi.org/10.5089/9781498314503.007",
    "Stock No: PPEA2019011",
    "ISBN: 9781498314503",
    "ISSN: 2663-3493",
    "Subject: Banking, Central bank accountability, Central bank governance, Central bank mandate, Central bank transparency, Central banks, Financial crises, Global financial crisis of 2008-2009",
    "Keywords: CBT assessment, CBT code, central bank, Central bank accountability, Central bank governance, Central bank mandate, Central bank transparency, Global, Global financial crisis of 2008-2009, IMF Executive Board reviews proposal, IMF program context, monetary policy, PP, support IMF surveillance",
    "Available format noted: Download PDF",
    "Citation example provided in Chicago format: International Monetary Fund. Monetary and Capital Markets Department \"Update The Monetary And Financial Policies Transparency Code\", Policy Papers 2019, 011 (2019), accessed 9/19/2026, https://doi.org/10.5089/9781498314503.007",
    "**Policy Paper**"
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