## Financial Sector Surveillance (FSS)

## Source details

**Canonical URL:** [Financial Sector Surveillance (FSS)](https://www.imf.org/en/capacity-development/training/icdtc/courses/fss)

## Other formats

- [Markdown version](/en/capacity-development/training/icdtc/courses/fss/index.md)
- [Structured JSON version](/en/capacity-development/training/icdtc/courses/fss/index.json)
- [Bundle manifest](/en/capacity-development/training/icdtc/courses/fss/bundle-manifest.json)

## Bibliographic details
- Published: July 24, 2025

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## Upcoming offerings

| Start date | End date | Location | Delivery Method | Session No. | Primary & (Interpretation) language | Apply |
| --- | --- | --- | --- | --- | --- | --- |
| October 5, 2026 | October 16, 2026 | Ebene, Mauritius | [[[In-person Training](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods)](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods)](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods) | [AT 26.21](https://www.imf.org/en/capacity-development/training/icdtc/schedule/at/2026/fssat26-21) | English (French, Portuguese) | Deadline passed |
| March 15, 2027 | March 19, 2027 | Shenzhen, China | [[[In-person Training](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods)](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods)](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods) | [CT 27.02](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ct/2027/fssct27-02) | English | [[Apply online](https://www-ins.imf.org/TAS/signon.aspx?pkey=JV27.10E)](https://www-ins.imf.org/TAS/signon.aspx?pkey=CT27.02E) by December 21, 2026 |
| April 5, 2027 | April 16, 2027 | Vienna, Austria | [[[In-person Training](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods)](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods)](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods) | [JV 27.10](https://www.imf.org/en/capacity-development/training/icdtc/schedule/jv/2027/fssjv27-10) | English | [[Apply online](https://www-ins.imf.org/TAS/signon.aspx?pkey=JV27.10E)](https://www-ins.imf.org/TAS/signon.aspx?pkey=CT27.02E) by January 3, 2027 |

### Overview
- The course, presented by the Institute for Capacity Development, introduces participants to key concepts and tools used in the identification and assessment of financial sector vulnerabilities and sources of strength.
- The course provides a basic toolkit to assess financial sector risks and measure them against existing capital and liquidity buffers in the financial system.
- Discussions focus on the early identification of unwarranted macro-financial imbalances and the analysis of the transmission of financial distress across institutions, markets, and economic sectors, with the objective of reducing the likelihood and the severity of financial crises.
- A combination of lectures and hands-on workshops allows participants to apply essential risk assessment techniques.
- Topic: Financial Sector Issues

### Target audience
- Junior to senior government officials tasked with surveillance of the financial sector, especially staff of the central bank, financial regulators, and other agencies that engage in macroprudential oversight.

### Syllabus and structure
- This two-week course aims at providing a foundation to assess financial sector risks.
- The course targets government officials charged with financial sector surveillance.
- Course Structure and Standard Syllabus

### Qualifications
- Participants are expected to have a degree in economics or finance, preferably at the master’s level, or equivalent work experience; good quantitative skills; and proficiency in the use of computers to analyze data.
- It is strongly recommended that applicants have completed the online Financial Market Analysis (FMAx) course.
- Because many of the workshops use Microsoft Excel worksheets, familiarity with the basics of Excel is important.

### Course objectives
Upon completion of this course, participants should be able to:
- Measure the main risks facing banks (e.g., credit, market, liquidity, funding) and their respective capital and liquidity buffers, from a systemic financial stability perspective.
- Design and perform basic stress tests of solvency and liquidity and interpret the results.
- Understand the main climate risk drivers and transmission channels to financial institutions’ balance sheets and perform basic climate stress tests.
- Recognize the importance of nonbank financial intermediaries and their links to banks.
- Assess macro-financial linkages, including the links between the financial sector, the government, and the real economy, along with potential amplification mechanisms.
- Track the buildup¿of systemic risk and vulnerabilities associated with credit, leverage, balance sheet mismatches, and interconnectedness.
- Assess how shocks can amplify throughout the financial system, e.g., through adverse liquidity spirals or feedback effects between asset prices and leverage.

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## Content in this bundle

- **Financial Sector Surveillance**
  - [Financial Sector Surveillance (Markdown version)](/-/media/files/icd/fss1.pdf.md){rel="alternate" type="text/markdown"}
  - [Financial Sector Surveillance (PDF)](/-/media/files/icd/fss1.pdf){rel="external" type="application/pdf"}

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## References

- [In-person Training](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods)
- [AT 26.21](https://www.imf.org/en/capacity-development/training/icdtc/schedule/at/2026/fssat26-21)
- [CT 27.02](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ct/2027/fssct27-02)
- [JV 27.10](https://www.imf.org/en/capacity-development/training/icdtc/schedule/jv/2027/fssjv27-10)
- [Apply online](https://www-ins.imf.org/TAS/signon.aspx?pkey=CT27.02E)
- [Apply online](https://www-ins.imf.org/TAS/signon.aspx?pkey=JV27.10E)

_Source: https://www.imf.org/en/capacity-development/training/icdtc/courses/fss_