Virtual : Monetary Policy Implementation-Emergency Liquidity Assistance

Source details

Canonical URL: Virtual : Monetary Policy Implementation-Emergency Liquidity Assistance

Session No.: SA 22.17 V
Location: New Delhi, India
Date: April 4-6, 2022 (1 week) New dates
Delivery Method: Virtual Training
Primary Language: English
Status: Deadline passed
Purpose: Continuation of the joint SARTTAC-CDOT course focused on Emergency Liquidity Assistance (ELA) as Lender of last resort.

Target Audience:
- Central bank officials from CDOT and SARTTAC member countries.
Qualifications:
- Participants are expected to be involved in the design and operationalization of the Emergency Liquidity Assistance (Lender of last resort) framework.
- Typical departmental affiliations: Monetary Operations, Banking Supervision, Financial Stability, Risk Management, and Legal.

Prior segments in the joint SARTTAC-CDOT course (context for this segment):
- i) interest rate corridor (August 2021)
- ii) central bank daily liquidity management (October 2021)
- iii) collateral framework for central bank liquidity-providing operations (January 2022)
Focus for April 2022 segment:
- Emergency Liquidity Assistance (Lender of last resort)
- Rationale: All central banks should be ready to act as lenders of last resort by providing ELA to solvent banks facing temporary liquidity stress to preserve financial stability.
- Relevance: Of interest to officials from central banks in the region, independent of their current monetary policy regime.
Delivery format and schedule:
- The segment on ELA will consist of three 90-minute sessions held over three days.
- Day 1: IMF expert presentation on the key principles of an ELA framework.
- Day 2: Lecture elaborating on the operational considerations to implement such a framework.
- Day 3: Invited central banks present a case study sharing experience and challenges in the design and implementation of an ELA framework, followed by a panel discussion.
- The course will be delivered remotely and will bring together country officials and IMF experts to discuss the importance of and ELA framework.

Improve the understanding of designing and operating an Emergency Liquidity Framework (Lender of last resort).
Facilitate exchange of experiences with central banks from the region.