Most central banks do not use governance, risk and compliance (GRC) systems, although usage was higher among respondents to Risk Management Benchmarks 2023 compared to respondents in 2022.
Of the 33 institutions that responded to this data query, 14 (42.4%) banks said they use a GRC system, up from 36.7% that confirmed use last year.
The proportion of advanced economy (AE) central banks using a GRC doubled by 2023, with half of institutions saying they used such an integrated system.