What is the importance of the Code of Ethics of the CNB?

What is the importance of the Code of Ethics of the CNB?

Published: 29/9/2021 Modified: 20/7/2023

The Code of Ethics of the Croatian National Bank adopts the principles of the Ethics Framework of the Eurosystem and the Single Supervisory Mechanism and sets the highest standards of ethical conduct and integrity of Bank employees aimed at strengthening the transparency, autonomy, independence and professionalism of the Bank and its public role. The Code of Ethics applies the provisions of Guideline (EU) 2021/2253 laying down the principles of the Eurosystem Ethics Framework (ECB/2021/49) and Guideline (EU) 2021/2256 laying down the principles of the Single Supervisory Mechanism Ethics Framework (ECB/2021/50) and harmonises the CNB’s ethics rules with those of the European Central Banks.

All employees of the Bank are obliged to know and comply with the provisions of the Code of Ethics, which is ensured by the program of education and workshops conducted at the Bank, but also by individual consultations and answers to specific questions of employees related to the topics referred to in the Code.

The organisational unit that continuously monitors the implementation of the Code, provides its interpretations and supervises its application is the Compliance Office. As a control function of the Bank independent in its work, the Office is a central point for providing information, opinions and recommendations on all issues related to ethics and integrity in its work.