Since 1 October 2020, the Croatian National Bank has been participating in the Single Supervisory Mechanism and is consequently obligated to comply with the Guideline (EU) 2015/856 of the European Central Bank laying down the principles of an Ethics Framework for the Single Supervisory Mechanism. The Guideline lays down core principles and values that all national supervisory authorities of the participating Member States must implement in their operations.
Accountability, transparency and the highest ethics standards are placed at the centre of the SSM Ethics Framework. To put it simply, this means that the staff of the SSM central banks must comply with equivalent, stringent ethics rules and principles. All the central banks are subject to the same principles, rules and values, but each of them is to choose the manner and the models for their implementation in its system.
The SSM Ethics Framework contributes to credibility, reputation and reliability, as well as public confidence in the banking system. The European banking supervision tasks, that are highly important and confidential, are entrusted to staff members that are guided by integrity, respect for ethical principles and independence, which contributes to a more transparent and better execution of tasks and competences of central banks.