Training Program

Officials from central bank financial stability departments, banking regulatory and supervisory bodies, and ministries of finance. Participants are expected to have a degree in economics or finance. Experience with financial stability analysis is highly desirable.

Participants are expected to have a degree in economics or finance. Experience with financial stability analysis is highly desirable.

This course, developed and delivered by the Monetary and Capital Markets Department of the International Monetary Fund (IMF), provides a comprehensive overview of macro-financial stress testing, and related analytical tools and methodologies developed by IMF staff. It has a topical nature, meaning that each year it combines certain "base elements" of a curriculum with topical themes that deserve emphasis at the current juncture. The 2023 course is designed around the following themes:

• Systemic risk assessment: Definition, dimensions, monitoring, measuring. Sources and amplification channels of economic cycles. Policies to contain systemic risk in its various dimensions. 
• Macroprudential financial sector stress testing: Definition and purpose. Cyclical vs. structural macro-financial scenario design. Macro-financial feedback effects, including with a view to banks, non-bank financial institutions, and the economy at large. 
• Solvency and liquidity stress testing models.
• Best practice and frontier methodologies regarding contagion and modeling of interconnectedness.  
• Primer on climate risk analysis, with a focus on the role of financial system performance conditional on climate transition and physical risk scenarios.