Training Program Course — Macro-Stress Testing (MST)
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- Training Program Course — Macro-Stress Testing (MST)
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Bibliographic details
- Published: July 24, 2025
Upcoming offerings
| Start date | End date | Location | Delivery Method | Session No. | Primary & (Interpretation) language | Apply |
|---|---|---|---|---|---|---|
| October 25, 2026 | November 5, 2026 | Kuwait City, Kuwait | [In-person Training](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods) | CE 26.37 | English (Arabic) | Deadline passed |
| November 23, 2026 | November 27, 2026 | Singapore, Singapore | [In-person Training](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods) | ST 26.25 | English | Deadline passed |
Overview
- Course presented by the Monetary and Capital Markets Department (MCM).
- Discusses recent developments in stress testing for banks, insurance companies and mutual funds.
- Adapted to regional specificities (example: MENA offering includes analysis of Islamic finance).
- Covers new and emerging topics in stress testing:
- Feedback loops between real and financial sectors.
- Asset fire-sales.
- Climate-related risks.
- Systemwide liquidity risks.
- Fintech-related risks.
- Emphasizes hands-on exposure to the entire stress testing cycle:
- Entering data and estimating macro-financial models.
- Designing scenarios and selecting assumptions.
- Running tests and integrating feedback loops between financial and real sectors.
- Communicating results and incorporating them in policy decision making.
- Some tools taught are integral to the Financial Sector Assessment Program (FSAP) and technical assistance missions.
- Course includes guest speakers from industry in many cases and concludes with a roundtable where participants exchange knowledge and share country experiences.
Target Audience and Qualifications
- Target audience:
- Mid-level to senior officials working on financial supervision or financial stability in central banks or other supervisory authorities.
- Qualifications:
- Participants are expected to have experience with stress testing, Basel regulations, and financial stability analysis.
Course Focus and Content
- Primary focus areas throughout the course:
- Scenario design.
- Solvency elements of stress testing.
- Liquidity elements of stress testing.
- Interactions among scenario, solvency, and liquidity components.
- Course reviews:
- Stress testing objectives.
- Methodologies and techniques.
- Good practices.
- Hands-on modules allow participants to:
- Link changes in macroeconomic and financial variables with financial results.
- Measure the relative impact of those changes.
- Assess resilience of individual entities and the financial system to solvency and liquidity stress.
- Develop and incorporate models capturing second-round effects or interactions between different risk types.
Course Objectives (learning outcomes)
- Upon completion, participants should be able to:
- Identify main sources of financial stability risk.
- Summarize the principles for developing macro-financial stress scenarios.
- Link changes in macroeconomic and financial variables with financial results and measure their relative impact.
- Assess the resilience of individual entities and the financial system to solvency and liquidity stress.
- Develop and incorporate models that capture second round effects or interactions between different risk types.