TARGET GROUP | Mid-level to senior officials from central banks, ministries of finance and regulatory agencies in charge of financial stability or financial regulation and supervision.
DESCRIPTION | The objective of this one-week course is to deepen understanding of recent trends and issues related to the financial stability function of central banks. The course will discuss the objective and the role of macroprudential policy, systemic risk indicators, policies for credit-funded housing booms, the macroprudential framework in the EU, models for macroprudential analysis, and how macroprudential policy and monetary policy interact. A part of the course will be devoted to the functioning and calibration of specific macroprudential tools, such as the countercyclical capital buffer, limits on LTV ratios, or surcharges for systemically important banks. The lectures will be complemented by workshops in which participants will use EViews and Excel to analyze various macroprudential policy issues. Participants are expected to deliver short presentations and engage in group discussions on key financial stability issues in their countries.