## Macro-Stress Testing (MST)

## Source details

**Canonical URL:** [Macro-Stress Testing (MST)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/st/2026/mstst26-25)

## Other formats

- [Markdown version](/en/capacity-development/training/icdtc/schedule/st/2026/mstst26-25/index.md)
- [Structured JSON version](/en/capacity-development/training/icdtc/schedule/st/2026/mstst26-25/index.json)
- [Bundle manifest](/en/capacity-development/training/icdtc/schedule/st/2026/mstst26-25/bundle-manifest.json)

## Bibliographic details
- Session: ST 26.25
- Location: Singapore, Singapore
- Dates: November 23-27, 2026 (1 week)
- Delivery method: In-person Training
- Primary language: English
- Status: Deadline passed

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### Course overview and logistics
- Session No.: ST 26.25
- Location: Singapore, Singapore
- Date: November 23-27, 2026 (1 week) New dates
- Delivery Method: In-person Training
- Primary Language: English
- Presented by the Monetary and Capital Markets Department (MCM)

### Target audience and qualifications
- Target audience:
  - Mid-level to senior officials working on financial supervision or financial stability in central banks or other supervisory authorities.
- Qualifications:
  - Participants are expected to have experience with stress testing, Basel regulations, and financial stability analysis.

### Course description — scope and modules
- Coverage:
  - Recent developments in stress testing for banks, insurance companies and mutual funds.
  - Regional specificities, with an example: the offering for the Middle East and Northern Africa (MENA) region includes analysis of Islamic finance.
  - New and emerging topics in stress testing, including:
    - Feedback loops between real and financial sectors
    - Asset fire-sales
    - Climate
    - Systemwide liquidity
    - Fintech related risks
- Tools and integration:
  - Opportunity to learn and apply new tools used or created by MCM for stress testing and systemic risk analysis.
  - Some tools are integral to the Financial Sector Assessment Program (FSAP) and technical assistance missions.
- Pedagogy and activities:
  - Hands-on modules exposing participants to the entire stress testing cycle:
    - Entering data and estimating macro-financial models
    - Designing scenarios and selecting assumptions
    - Running tests and integrating feedback loops between financial and real sectors
    - Communicating results and incorporating them into policy decision making (for example, informing the calibration of capital and liquidity buffers)
  - Focus on the scenario design, solvency and liquidity elements and their interactions.
  - Course concludes with a roundtable discussion for exchanging knowledge and country experiences.
  - Guest speakers from industry are invited in many cases to discuss specific topics.

### Course objectives (learning outcomes)
Upon completion of this course, participants should be able to:
- Identify main sources of financial stability risk.
- Summarize the principles for developing macro-financial stress scenarios.
- Link changes in macroeconomic and financial variables with financial results and measure their relative impact.
- Assess the resilience of individual entities and the financial system to solvency and liquidity stress.
- Develop and incorporate models that are capturing second round effects or interactions between different risk types.

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## References

- [In-person Training](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods)
- [Financial Development and Financial Inclusion (FDFI)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/at/2026/fdfiat26-24)

_Source: https://www.imf.org/en/capacity-development/training/icdtc/schedule/st/2026/mstst26-25_