Macroprudential Tools for Banks and Non-Banks – Exploring the Issues with the JVI and Bank of England

The Joint Vienna Institute, in collaboration with the Bank of England’s Centre for Central Banking Studies, delivered the sixth edition of the course on Macroprudential Tools from September 16 to 20, 2025. Building on the strong tradition of previous offerings, this year’s course was broadened in scope, to also cover non-bank financial institutions—reflecting their growing importance from a systemic risk perspective. 

The course comprised a mix of lectures, workshops, country presentations, a Mentimeter-based group discussion, and a closing group quiz. The program, which was significantly overhauled this year, provided a comprehensive overview of the design and application of key macroprudential tools for banks, such as the countercyclical capital (CCyB) buffer – including the experience with positive neutral CCyB regimes - as well as other capital-based measures and borrower-based measures to address real estate risks. For the first time, three dedicated sessions focused on macroprudential tools for non-bank institutions, including a detailed presentation on the UK experience in this emerging policy area. A new session on macroprudential communication also featured prominently.

Interactive learning and peer exchange formed the cornerstone of the course. The Mentimeter-based session and the closing quiz stimulated lively discussions, reinforced key learning points, and created a collaborative and engaging learning environment. Participants welcomed the opportunity to present and discuss country-specific experiences, enriching the cross-country exchange on the use of macroprudential tools.

The course brought together 27 participants from 16 countries, with most participants coming from central banks and supervisory authorities. Participants particularly valued the diversity of topics, the balance between theory and practice, and the opportunities for active engagement and peer learning.

In line with the alternating schedule of collaborative courses with the Bank of England’s Centre for Central Bank Studies, the next joint course at the JVI - Interaction of Monetary and Financial Stability Policies - is planned for October 2026.

Maximilian Fandl, Senior Economist, JVI