Published: 19/3/2018 Modified: 3/7/2023

The Croatian National Bank forms an integral part of the Eurosystem and the Single Supervisory Mechanism, promoting the highest standards of ethical conduct and integrity. The purpose of the Code of Conduct of the Croatian National Bank is to create the preconditions for ethical behaviour and responsible conduct of the Bank’s employees. Responsible, honest, independent and impartial conduct, avoidance of any form of inappropriate behaviour, professionalism, transparency, equality, diversity and inclusion make the core ethical principles of the Bank, while compliance with ethical rules is a personal responsibility of all the staff members.

The Bank’s employees must avoid situations which might give rise to conflicts of interest and mechanisms have been put in place to avoid and prevent such conflicts of interest. Communication in the Bank is open, accurate and professional, with special attention paid to professional secrecy, while any misuse of non-public information is prohibited. The Bank’s employees may not receive any advantages connected with the performance of their work, while exemptions from this prohibition are regulated in detail. In order to safeguard the objectivity and independence of the employees and to avoid potential unpleasant situations, the Bank calls on all the business partners to refrain from expressing their satisfaction with the Bank and its employees by offering gifts to the Bank’s employees. The Bank’s employees are obligated to act lawfully, employ caution and exercise restraint when conducting private financial transactions.

The Code of Conduct of the Croatian National Bank incorporates the provisions of the Guideline (EU) 2021/2253 laying down the principles of the Eurosystem Ethics Framework (ESB/2021/49) and Guideline (EU) 2021/2256 laying down the principles of the Ethics Framework for the Single Supervisory Mechanism (ESB/2021/50) and the ethical rules of the Croatian National Bank have been harmonised with those of European central banks. In addition, the Code of Conduct also contributes to the preservation of public reputation and strengthening of public confidence in the Bank.

Promoting employees’ compliance and supervising the implementation of the ethics framework is the responsibility of the Compliance Office, the Bank’s control function that reports directly to Governor. In addition to fostering ethical principles and providing assistance to employees in their understanding, the Compliance Office also carries out direct compliance controls with the rules of the ethics framework and reports on any cases of non-compliance.