Revamped Institutional Report boosts BDE accountability
Banco de España Governor José Luis Escrivá presented the revamped 2025 Institutional Report. The publication aims to strengthen the central bank's accountability and accessibility to society.
Accountability as a core principle
Governor Escrivá emphasized that independent institutions must be particularly rigorous in their accountability to citizens.
As they are not subject to external controls, central banks must strive to explain their actions, methods, and objectives to society.
The revamped Institutional Report focuses on society by addressing four key questions: what the Banco de España does, why it does it, its impact, and its fundamental challenges.
This new approach aims to make the institution's role and utility clearer to the public, setting a new standard for transparency in central bank communications.
Clarity and visual design
The second key aspect of the report's transformation is enhanced accessibility.
This involves changing both the content and the communication style, making the publication more comprehensible, clear, and concise.
Recognizing that institutions often use specialized language, the 2025 Institutional Report now employs clearer, more direct language and a more visual design.
The Banco de España aims for these accessibility improvements to extend to all its future publications, with this report serving as a flagship for its new communication strategy.
Transparency: A strategic pillar
This initiative marks a significant step towards greater public engagement, acknowledging the need to demystify central bank operations.
The true test lies in consistently translating complex economic concepts into accessible language without oversimplification.
This commitment to transparency is a crucial pillar of the Banco de España's Strategic Plan 2030, signaling a long-term shift in its communication approach.