As of 1 January 2023, the CNB has been part of the Eurosystem and therefore subject to the application of Guideline (EU) 2021/2253 of the European Central Bank laying down the principles of the Eurosystem Ethics Framework.
The Eurosystem adheres to the principles of independence, accountability, transparency and the maintenance of the highest standards of professional ethics and integrity, as well as a lack of tolerance towards inappropriate behaviour and harassment. The principles and standards laid down in the Guideline are an essential element in ensuring the credibility of the Eurosystem and essential to ensure the confidence of supervised entities, monetary policy counterparties and, in particular, citizens of the European Union.
In addition to the rules and principles already incorporated into the CNB's ethics system due to the fact that the Bank had previously entered the Single Supervisory Mechanism system, entry into the Eurosystem is subject to the obligation to prescribe rules relating, among other things, to additional restrictions on key personal financial transactions of certain categories of employees (primarily for foreign exchange transactions, gold transactions and trading in euro area government securities). This upgrades the CNB’s ethical framework by further adapting it to the ethical frameworks of central banks of countries whose official currency is the euro, which is an essential element of the Eurosystem’s credibility.