{
  "title": "Policy Papers: The Central Bank Transparency Code",
  "publication": "Policy Papers, July 30, 2020",
  "sourceUrl": "https://www.imf.org/en/publications/policy-papers/issues/2020/07/29/the-central-bank-transparency-code-49619",
  "canonical": "https://www.imf.org/en/publications/policy-papers/issues/2020/07/29/the-central-bank-transparency-code-49619",
  "overlayPath": "/en/publications/policy-papers/issues/2020/07/29/the-central-bank-transparency-code-49619/index.md",
  "summary": "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",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Reports to the Executive Board on its decision of April 29, 2019, to prepare an IMF Central Bank Transparency Code (CBT).\n- The CBT is linked to the 2017 Review of the Standards and Codes Initiative (RSCI) and aims to revise and update the 1999 Monetary and Financial Policies Transparency Code (MFPT).\n- Date on page: July 30, 2020."
    },
    {
      "heading": "Executive Board directives and objectives",
      "content": "- Directors asked that the CBT should:\n  - remove the overlap on financial policies covered by other international standards;\n  - expand the transparency standards to a broader set of activities undertaken by many central banks since the 2008 financial crisis;\n  - reorient the transparency standards to facilitate risk-based assessments to support policy effectiveness and address macroeconomic risks."
    },
    {
      "heading": "Key thematic coverage",
      "content": "- Banking\n- Central bank transparency\n- Foreign exchange\n- International reserves\n- Legal support in revenue administration"
    },
    {
      "heading": "Keywords and institutional context",
      "content": "- Keywords listed: CBT, CBT principle, central bank, IMF surveillance, monetary policy, PP\n- The CBT is presented as part of IMF policy work to update transparency guidance reflecting post-2008 central bank activities and to align with the 2017 RSCI review.\n\nInternational Monetary Fund. The Central Bank Transparency Code. July 30, 2020.\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/2020/07/29/the-central-bank-transparency-code-49619"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/policy-papers/issues/2020/07/29/the-central-bank-transparency-code-49619/index.md)",
    "[Structured JSON version](/en/publications/policy-papers/issues/2020/07/29/the-central-bank-transparency-code-49619/index.json)",
    "[Bundle manifest](/en/publications/policy-papers/issues/2020/07/29/the-central-bank-transparency-code-49619/bundle-manifest.json)",
    "Published: July 30, 2020",
    "Series: Policy Papers",
    "DOI: https://doi.org/10.5089/9781513551814.007",
    "Reports to the Executive Board on its decision of April 29, 2019, to prepare an IMF Central Bank Transparency Code (CBT).",
    "The CBT is linked to the 2017 Review of the Standards and Codes Initiative (RSCI) and aims to revise and update the 1999 Monetary and Financial Policies Transparency Code (MFPT).",
    "Date on page: July 30, 2020.",
    "Directors asked that the CBT should:",
    "Banking",
    "Central bank transparency",
    "Foreign exchange",
    "International reserves",
    "Legal support in revenue administration",
    "Keywords listed: CBT, CBT principle, central bank, IMF surveillance, monetary policy, PP",
    "The CBT is presented as part of IMF policy work to update transparency guidance reflecting post-2008 central bank activities and to align with the 2017 RSCI review.",
    "**Policy Paper**"
  ],
  "related": [
    {
      "title": "Policy Paper",
      "role": "paper",
      "sourceUrl": "https://www.imf.org/-/media/files/publications/pp/2020/english/ppea2020038.pdf",
      "summary": {
        "path": "/-/media/files/publications/pp/2020/english/ppea2020038.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/files/publications/pp/2020/english/ppea2020038.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/policy-papers/issues/2020/07/29/the-central-bank-transparency-code-49619/index.md",
    "json": "/en/publications/policy-papers/issues/2020/07/29/the-central-bank-transparency-code-49619/index.json",
    "bundleManifest": "/en/publications/policy-papers/issues/2020/07/29/the-central-bank-transparency-code-49619/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-19T01:09:14.319Z"
}