Safeguards Assessments - 2025 Update

Volume/Issue: Volume 2025 Issue 029

Publication date: September 2025

ISBN: 9798229028455

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Summary

This periodic update provides an overview of safeguards assessment activity from May 2022 to April 2025—the first following the 2022 Safeguards Assessments Policy Review. The safeguards framework was enhanced in 2022 mainly through the establishment of a standalone governance pillar, broader coverage of financial risks within central banks’ risk management, a defined approach for addressing Central Bank Digital Currencies (CBDCs) in assessments and strengthened modalities for Fiscal Safeguards Reviews (FSRs). Outreach to member countries was also expanded. Implementation of these enhancements is well underway.