Ensuring Transparency in Financial Stability Policy
Essentially, the transparency of the Financial Stability Policy is ensured by the CBA through key communication channels.
Those main channels are the published Financial Stability Reports (FSR), Board decisions on macroprudential policy with the published documents justifying decisions on macroprudential tools, press releases, speeches and the publication of other supporting materials and research papers.
Our communication is directed towards both domestic (including media representatives, Parliament, other public authorities, financial system participants, real sector companies, think tanks, academics, researchers, students, other influencers, and the general public) and external stakeholders (such as the global financial sector, rating agencies, international media, international organizations, trade partners, etc.).
To improve communication effectiveness and meet our goals, we show a personalized approach based on the types of stakeholders mentioned earlier and their level of expertise (professional and non-professional (broad) society).
The financial stability policy communicates with key stakeholders through various channels, depending on the sectoral affiliation of the stakeholders. Such channels are: website of the CBA, media, social networks, meetings with target audience, conferences, workshops.
The Financial Stability Report is published annually. Until 2021, it was also published semi-annually. Board decisions regarding the Countercyclical Capital Buffer (CCyB) and the justification notes have been consistently published on a quarterly basis since 2019. In conjunction with these decisions, selected indicators of financial stability are also made available.
In turbulent times, financial stability communication may become more frequent depending on current developments. In this case, the main channels are media, social networks, meetings with target audience.