Training Program

Central bank officials involved in implementing Emergency Liquidity Assistance/Last Resort Loan.

Participants should have a background in economics or finance, relevant work experience in central banking and basic knowledge of operational aspects of liquidity assistance.

This course, offered by the IMF South Asia Regional Training and Technical Assistance Center (SARTTAC) in collaboration with the Caucasus, Central Asia, and Mongolia Regional Capacity Development Center (CCAMTAC), will delve into the primary challenges encountered by central banks in emerging markets and developing economies in the execution of Emergency Liquidity Assistance (ELA). It will explore various operational aspects of an ELA framework and the role of a collateral framework within an ELA context. Topics include conditions for ELA, parameters, conditionality, internal organization and governance, building blocks of a collateral framework (eligibility, valuation, risk control measures), as well as communication and transparency. The curriculum will encompass a variety of topics, initiated by main lectures and discussion sessions, and further enriched by selected country case studies and practical training. The course will conclude with a panel discussion summarizing key insights and pinpointing opportunities to enhance implementation efforts, to build on technical support already being provided by SARTTAC and CCAMTAC to their member and beneficiary country central banks.