## Update The Monetary And Financial Policies Transparency Code

_Policy Papers, May 13, 2019_

## Source details

**Canonical URL:** [Update The Monetary And Financial Policies Transparency Code](https://www.imf.org/en/publications/policy-papers/issues/2019/05/13/update-the-monetary-and-financial-policies-transparency-code-46885)

## Other formats

- [Markdown version](/en/publications/policy-papers/issues/2019/05/13/update-the-monetary-and-financial-policies-transparency-code-46885/index.md)
- [Structured JSON version](/en/publications/policy-papers/issues/2019/05/13/update-the-monetary-and-financial-policies-transparency-code-46885/index.json)
- [Bundle manifest](/en/publications/policy-papers/issues/2019/05/13/update-the-monetary-and-financial-policies-transparency-code-46885/bundle-manifest.json)

## Bibliographic details
- Published: May 13, 2019
- Series: Policy Papers
- DOI: https://doi.org/10.5089/9781498314503.007

---

### Purpose and context
- 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:
  - remove the overlap on financial policies covered by other standards,
  - expand the transparency standards to broader set of activities undertaken by many central banks since the Global Financial Crisis,
  - reorient the transparency standards to facilitate risk-based assessments to support policy effectiveness and address macroeconomic risks.

### Summary of substantive focus
- 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 metadata and identifiers
- 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 areas and keywords
- 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

### Access and formats
- 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

*International Monetary Fund. Policy Paper No. 2019/011, "Update The Monetary And Financial Policies Transparency Code", May 13, 2019.*

---

## Content in this bundle

- **Policy Paper**
  - [Policy Paper (Markdown version)](/-/media/files/publications/pp/2019/ppea2019011.pdf.md){rel="alternate" type="text/markdown"}
  - [Policy Paper (PDF)](/-/media/files/publications/pp/2019/ppea2019011.pdf){rel="external" type="application/pdf"}

---

_Source: https://www.imf.org/en/publications/policy-papers/issues/2019/05/13/update-the-monetary-and-financial-policies-transparency-code-46885_