## Tools for Central Banking Implementation: Liquidity Forecasting and FX Intervention

## Source details

**Canonical URL:** [Tools for Central Banking Implementation: Liquidity Forecasting and FX Intervention](https://www.imf.org/en/capacity-development/training/icdtc/schedule/st/2024/cbst24-24)

## Other formats

- [Markdown version](/en/capacity-development/training/icdtc/schedule/st/2024/cbst24-24/index.md)
- [Structured JSON version](/en/capacity-development/training/icdtc/schedule/st/2024/cbst24-24/index.json)
- [Bundle manifest](/en/capacity-development/training/icdtc/schedule/st/2024/cbst24-24/bundle-manifest.json)

## Bibliographic details
- Session: ST 24.24
- Location: Singapore, Singapore
- Dates: November 11-15, 2024 (1 week)
- Delivery method: In-person Training
- Primary language: English
- Status: Deadline passed

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### Overview
- Training program offered by the IMF titled "Tools for Central Banking Implementation: Liquidity Forecasting and FX Intervention".
- Session No.: ST 24.24.
- Location: Singapore, Singapore.
- Date: November 11-15, 2024 (1 week).
- Delivery Method: In-person Training.
- Primary Language: English.
- Status: Deadline passed.

### Target audience and qualifications
- Target Audience:
  - Mid-level to senior central bank officials interested in market operations, monetary policy strategy, and/or conducting stress tests on central bank's balance sheet.
- Qualifications:
  - Participants with experience in bank central bank operations, financial markets, and basic knowledge of quantitative methods.

### Course components and topics
- FX Intervention Tool
  - Theoretical background for risk-based FX interventions.
  - The econometric theory of risk estimation.
  - Application on a country case.
- Liquidity Forecasting Tool
  - Institutional framework for liquidity forecasting.
  - Statistical basics for forecasting.
  - Forecast the autonomous factors (currency in circulation, net foreign assets, state account balance) and total liquidity using a comprehensive, cutting-edge statistical framework.
  - Application on a case.
- Central Bank Balance Sheet Stress Testing
  - General framework for modeling central bank's balance sheet and how to tailor it to a specific country.
  - Forecasting central bank's balance sheet and profit & loss.
  - Stress testing central bank's equity and evaluating solutions to enhance financial soundness of central bank's balance sheet (e.g., recapitalization).
  - Satellite models for forecasting key balance sheet items.

### Course objectives and intended capabilities
- Implement an FX risk model that can be used for:
  - Conducting FX market monitoring and inform policymakers decisions.
  - Intervening on the FX markets via a risk-optimal approach.
- Implement a liquidity forecasting framework that can be used for:
  - Forecasting autonomous factors and total liquidity.
  - Forecasting demand for reserve.
  - Calibrating operations.
- Analyze central bank's balance sheet, including forecasting profit & loss and conducting stress tests to evaluate equity and financial soundness.

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## References

- [In-person Training](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods)
- [Model-Based Monetary Policy Analysis and Forecasting (MPAF)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/jv/2026/mpafjv26-35)
- [Climate in Macroeconomic Framework (CMF)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/jv/2026/cmfjv26-33)
- [Fiscal Policy Analysis (FPA)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/hq/2026/fpahq26-11)
- [Fintech Market Development and Policy Implications (FINTECH)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ct/2026/fintechct26-22)
- [Sovereign Risk and Debt Sustainability Framework for Market Access Countries and IMF Policies (SRDSF-MAC)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ct/2026/srdsf-macct26-19)

_Source: https://www.imf.org/en/capacity-development/training/icdtc/schedule/st/2024/cbst24-24_