All central banks in the European System of Central Banks (ESCB) are strongly committed to supporting and promoting adherence to the foreign exchange Global Code of Conduct. Today, 15 of the ESCB central banks, including the Central Bank of Ireland, simultaneously issued Statements of Commitment to the Code. The remaining ESCB central banks will do so in 2018.
By issuing these statements, these ESCB central banks demonstrate that they are committed to adhering to the principles of the Code when acting as foreign exchange market participants and ensuring that their internal practices and processes are aligned with the principles of the Code. With these Statements of Commitment, they emphasise that the principles of the Code are important in promoting the integrity and effective functioning of the wholesale foreign exchange market. To ultimately achieve the objective of the Code, the ESCB central banks also encourage all foreign exchange market participants to adhere to it.
The following
…