v)  Monetary policy independence requires a high level of accountability and transparency  The widespread move towards inflation targeting around the world has been accompanied by reforms to increase central bank independence. To counterbalance their greater independence, central banks faced stronger demands for transparency and accountability – to government, markets, and the public in general – over their policy performance.
To evaluate the threats to financial stability, the Central Bank must look not only at the health of the banks which it regulates, but to all other financial institutions, to their regional partners, branches and subsidiaries, and to their head offices and activities outside the region as well.