The Banco de España has published a comparative analysis of transparency and public accountability by central banks and financial supervisory authorities. The study will be presented and discussed in several sessions of the 13th GIGAPP Congress from 16 September 2026, including virtual panels on 16, 17 and 23 September and in-person contributions on 21 and 22 September in Alcalá de Henares. According to the organiser, coordination is being handled by the Banco de España's Transparency Department; speakers include central bank staff and external researchers, including from the Banca Națională a României.
At the heart of the report is a systematic country comparison of disclosure requirements, internal evaluation procedures and forms of public reporting at 35 central banks and national supervisory authorities. Its aim is to assess transparency and accountability as drivers of institutional change and use the findings to develop recommendations for governance reforms. The bank says the results will feed into ongoing internal discussions on strengthening independence, governance and accountability.
The leadership of the Banco de España presented options for adapting internal rules on 26 June 2026. According to media reports, the proposals include clearer reporting lines, more precise disclosure requirements and stronger evaluation structures. No binding decisions by the responsible governing body, the Consejo de Gobierno, had been made at the time the analysis was published. Any changes to the rules would, where applicable, require formal decisions and, if relevant, legislative amendments.
By way of context, the central bank points to reforms since 2024, including the elevation of the internal evaluation function to an Office for Independent Evaluations in September 2024. Recent legal changes in Spain also shape the framework: on 25 August 2026, a Real Decreto-ley came into force, reorganising transparency requirements for interest groups and thereby affecting public accountability in a broader sense. The study places such external influences in context without presuming their direct impact on central bank practice.
Implications and assessment: no short-term operational changes can be inferred from the publication alone. The report primarily provides benchmarks for disclosure practices and verifiable criteria for internal assessments. Concrete steps depend on discussions in the Consejo de Gobierno and, where necessary, on political processes. Attributions concerning expected measures are currently based on presentations and internal papers; no reliable decisions are yet known.
With its combined publication and the discussion at the GIGAPP Congress the Banco de España is signalling a move towards greater comparability in supervisory culture in Europe and internationally, while also opening up a route for possible updates to its own governance.
Editor: Daniel Mayer (Article created with AI assistance).