## Policy Papers: The Central Bank Transparency Code

_Policy Papers, July 30, 2020_

## Source details

**Canonical URL:** [Policy Papers: The Central Bank Transparency Code](https://www.imf.org/en/publications/policy-papers/issues/2020/07/29/the-central-bank-transparency-code-49619)

## Other formats

- [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)

## Bibliographic details
- Published: July 30, 2020
- Series: Policy Papers
- DOI: https://doi.org/10.5089/9781513551814.007

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### Overview
- 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.

### Executive Board directives and objectives
- Directors asked that the CBT should:
  - remove the overlap on financial policies covered by other international standards;
  - expand the transparency standards to a broader set of activities undertaken by many central banks since the 2008 financial crisis;
  - reorient the transparency standards to facilitate risk-based assessments to support policy effectiveness and address macroeconomic risks.

### Key thematic coverage
- Banking
- Central bank transparency
- Foreign exchange
- International reserves
- Legal support in revenue administration

### Keywords and institutional context
- 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.

*International Monetary Fund. The Central Bank Transparency Code. July 30, 2020.*

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## Content in this bundle

- **Policy Paper**
  - [Policy Paper (Markdown version)](/-/media/files/publications/pp/2020/english/ppea2020038.pdf.md){rel="alternate" type="text/markdown"}
  - [Policy Paper (PDF)](/-/media/files/publications/pp/2020/english/ppea2020038.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/policy-papers/issues/2020/07/29/the-central-bank-transparency-code-49619_