Meeting of Experts on Document and Archive Management in Central Banks

Welcome and opening of the meeting.

Baltasar Cordeiro, Head of the Logistics and Documentation Division, Banco de Portugal, María de Inclán, Head of the Archives and Document Management Division, Banco de España and Roberto Marino, Advisor to the General Directorate of CEMLA welcomed the Meeting of Experts on Document and Archive Management in Central Banks.

They stressed that it is gratifying to see a significant number of distinguished participants, experts in the subject of document management and archives in central banks, which denotes the great interest in the subject.

They commented that the theme of the Meeting is of paramount importance to understand the functioning of modern central banking, especially the important role that transparency, access to information and communication have for the effective conduct of monetary policy and the behavior of inflation.

They stressed that document management of the central bank refers to the process of administration, organization, control and preservation of all documents and records generated or received by the central bank in the exercise of its functions. These documents are crucial for day-to-day operations, decision-making, and compliance with legal, regulatory, and operational standards.

They considered that proper document management in central banking generates many benefits.

Operational efficiency. A well-implemented document management system streamlines access and search for relevant information, reducing the time and costs associated with document management.

Compliance. It facilitates compliance with laws and regulations related to document retention and information protection.

Safety. It improves the protection of sensitive information and reduces the risks of loss or unauthorized access.

Transparency and accountability. It allows for more effective and transparent audits, which is essential for an institution like a central bank, which is accountable to both government authorities and the public.

In summary, document management in central banking is essential to ensure proper information management, security, and regulatory compliance, which has a direct impact on the institution's operational efficiency and transparency.

They mentioned that, at this Meeting, the state of information management in Central Banks will be evaluated, what progress has been made in recent years and what are considered the best practices in this field. In this sense, the efficient and secure management of information, archiving processes and services, the challenges of digital transformation, the evolution in robotization and automation of processes, among others, will be presented and addressed.

They pointed out that we all face similar challenges in our institutions: the efficient management of documents, the conservation of critical information, compliance with international regulations and standards, among others. They urged us to use this space to learn from each other, to learn how we are solving these challenges and to identify together innovative solutions that we can adapt to our own realities.

They recalled that Central Banks have been working on document management initiatives for more than 15 years and that an important objective of the meeting is to diagnose what are the current needs and challenges of central banks in terms of document management and file management. Certainly, cybersecurity and information protection are two of the great current and future challenges that central banks must address.

Regarding the management of archives, they commented that central banks have the responsibility to have impeccable archives so that there is a testimony of the activities of the central bank in all areas of the organization, its decision-making process and its organization. Today, technology makes archives much more accessible to citizens and researchers. They stressed that the different initiatives that central banks are carrying out to disseminate their assets will be addressed, from the use of institutional repositories to the realization of publications and exhibitions.

They hoped that during the next few days we can learn and strengthen ties of collaboration that extend beyond this event. May we create a network of support and shared knowledge, a community where we can turn to each other in the future to face new challenges in our institutions and in our practices.

Transparency and communication. How information management can bring Central Banks closer to society. María de Inclán, Banco de España, Head of the Archives and Document Management Division of the Banco de España, made a presentation highlighting the importance of document management to bring central banks closer to society, highlighting the initiatives that the Banco de España has in this regard.

Governance in document management. Baltasar Cordeiro, Banco de Portugal, gave a presentation on the document management system of the Banco de Portugal and its governance model.

Proposal to prepare a Declaration on Document Management and Archives of the Central Bank. Mr. Yayner Sruh Rodríguez, Banco Central de Costa Rica, presented a project proposal to develop an international declaration on document management and archives in central banking as a foundation for governance.

Digital preservation. Filipe Fernandes, Banco de Portugal made a presentation about the Banco de Portugal's digital preservation repository. The objectives of the project were: To identify, within these systems, the documentation that constitutes the institutional memory of the bank. 2. Migrate the identified documentation to a digital repository, ensuring the preservation of institutional memory and future access to the documents. 3. Establish an ongoing solution to ensure the long-term preservation of Banco de Portugal's digital records in an intermediate and historical digital archive.

Document management. Claudia Pinto, Banco de Portugal made a presentation about the Document Management System at Banco de Portugal, entitled: "A new life without paper".

Jose Ignacio Guerrero, Banco de España made a presentation entitled "Charting the future: the Banco de España's journey towards digital preservation". 1. Digital Preservation. 2. Initial evaluation process. Maturity model 3. Reference Model 4. Roadmap. Program and projects 5. A bit of benchmarking: ECB, WB, BIS, BdP and BoE.

Volodymyr Mykhayliv, Banco de Portugal presented the Digitization and format conversion projects at Banco de Portugal.

Blanca Yazel Jiménez Hernández, Banco de México, made a presentation on the internal regulations on documentary valuation at the Banco de Mexico.

Digital transformation. Sandra González Camacho and Yayner Sruh Rodríguez, Banco Central de Costa Rica, gave a presentation on Digital Transformation in the Banco Central de Costa Rica: first advance in Document Management and Archiving.

Lord Eileen S. Tagle, Al Bryan T. Taculog and Maria Deliza G. Lasquite, Bangko Sentral ng Pilipinas gave a presentation on digital transformation at the Bangko Sentral ng Pilipinas entitled: Bangko Sentral ng Pilipinas' Roadmap for Archives and Documents Management.

Ricardo Carvalho, Banco de Portugal presented: ALYA: AI at Banco de Portugal.

Ana Calleja, Banco de España presented: AI initiatives in document management at Banco de España.

Archival communication.

Alexandra Gonçalves, Banco de Portugal presented: Dissemination projects of the Historical Archive of the Banco de Portugal.

Patricia Alonso, Banco de España presented: Dissemination of Archive documents at the Banco de España.

Baltasar Cordeiro, Banco de Portugal, presented: Fausto Figueiredo Collection: conservation and dissemination.

Historical Archives.

Filipe Fernandes, Banco de Portugal, presented: Future services of the Historical Archive of the Banco de Portugal.

Jose David Hernandez Echeverry, Banco de la República de Colombia, presented: Project of the Historical Archive of the Banco de la República de Colombia.

Brainstorming: Document management, historical archiving, artificial intelligence and governance.

The brainstorming session reached the following conclusions:

Document management is essential to ensure administrative efficiency, information security and regulatory compliance.

Despite challenges such as technological transformation and lack of managerial support, there are numerous opportunities to improve processes. The use of artificial intelligence, talent diversification and inter-institutional collaboration are key to progress.

Implementing concrete actions such as policy formulation, awareness-raising, and team building is crucial to ensure effective and sustainable document management.

The historical archive aims to attract researchers, preserve and virtually receive collections, innovate, educate and become a source of knowledge.

It faces challenges such as scarcity of sources, sustainable maintenance, security of collections, adequate equipment, and protection of information.

There are opportunities for collaboration with other institutions and the use of advanced technology such as artificial intelligence.

Concrete actions include the preservation of collections, the creation of research projects, institutional collaboration, digitization and modernization of museums.

Artificial Intelligence AI has the potential to significantly transform a central bank's operations, improving efficiency and transparency. A clear strategy aligned with the institution's mission and vision is essential to maximize the benefits of AI.

AI development and training are crucial to leading innovation and cultural change within the organization. AI adoption must be safe, ethical, and people-centric, ensuring accountability and fairness.

Effective governance requires the implementation of clear objectives that promote transparency, accountability, and information security.

Challenges include adapting to new technologies and ensuring continuity in the face of management changes.

Significant opportunities exist through technology and well-established regulatory practices.

Concrete actions should focus on leading multidisciplinary teams, establishing clear documentation policies, and promoting communication and awareness.

The aim is to achieve an effective and sustainable plan of action.

Concluding remarks.

Helena Adegas, Administrator, Banco de Portugal, closed the Meeting. She highlighted the success in the organization of the event and congratulated the Center for Latin American Monetary Studies, the Banco de España and the Banco de Portugal. She highlighted that, during these last three days, a large group of experts presented and exchanged ideas, knowledge and information on the latest advances in the field of document and archive management, with the aim of sharing key projects and initiatives for the transformation and modernization of central banks.

She concluded by saying that she closed the Meeting on a note of optimism. The path of document and archival management in central banks is challenging, but the exchange of views over the past few days shows that our institutions have the knowledge, the tools and, above all, the commitment to overcome these challenges.