Why is the code of conduct of the employees of the CNB important?

Published: 29/9/2021

The Code of Conduct of the Employees of the Croatian National Bank lays down ethical values, principles and rules ensuring the Bank’s independent, professional and public role. Apart from the already established and further elaborated values and standards applying in the Croatian National Bank, the new Code of Conduct of the CNB from 2020 incorporates requirements and rules laid down in the EU guidelines, as necessary for the purpose of the Single Supervisory Mechanism and the Eurosystem, which we will be joining in the future. This primarily concerns standards relating to prohibition on misusing inside information, avoidance of conflicts of interest and prohibition of receiving advantages.

All the CNB’s staff members must respect and abide by the high ethical standards laid down by the Code, which is ensured through trainings and workshops at the Bank, but also through individual consultations and by replying to employees’ questions about matters encompassed by the Code.

The Compliance Office is the CNB’s organisational unit that is in charge of continuously monitoring the implementation of the Code, providing its interpretations and supervising its application. As a control function of the Bank, independent in its work, the Compliance Office is a central hub for the provision of information, opinion and recommendations about all the matters concerning work ethics and integrity.