Financial Regulation and Governance

Macroprudential Policy Implementation Academy – 2022

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02/11/2022 - 22/11/2022

Registration closed

Level

Intermediate

Approach

Qualitative

Delivery mode

Online

Registration closed

Safeguarding the stability of the financial system requires more than a sound and thorough supervision of single financial institutions. The Global Financial Crisis has indeed revealed that the mere reliance on micro-prudential policy tools could lead to looming systemic risks being missed or ignored. The general recognition of this gap in surveillance led to the accelerated implementation, throughout the world, of macroprudential policies.

Against this background, this course will first introduce the key objectives of macroprudential policy as well as the use and interaction of their instruments in the European and global context. It will then engage in more details with the implementation and use of selected macroprudential instruments (e.g. the countercyclical capital buffer, systemic risk buffers, instruments for the real estate sector, liquidity instruments). Based on their expertise in the field, the course instructors will lastly expose participants to the lessons learned from the implementation of macroprudential policies and set out the need for tools for non-banking financial sector.

Gain an overview of the type, scope and use of macroprudential instruments
Become familiar with the institutional framework, objectives and instruments of macroprudential policy in the European Union
Learn to apply certain macroprudential instruments in real-life cases
Understand calibration dilemmas
Become exposed to lessons learned of macroprudential policy
Draw conclusions from past experiences for the non-bank financial sector

Total length of the Academy: 22 hours

Structure

The Academy features:

Nine self-paced modules, accessible 24/7 on a dedicated online platform, consisting of video lectures, readings, quizzes and exercises.
- Module 1: Objectives, Concepts & Actors of Macroprudential Policy
- Module 2: Capital-based macroprudential instruments
- Module 3: Macroprudential instruments for real estate
- Module 4: Impact of Macroprudential Policies
- Module 5: Liquidity instruments and systemic liquidity
- Module 6: Cross-Border spill-overs of macroprudential policy
- Module 7: The non-banking financial sectors and macroprudential policy beyond banking
- Module 8: Macroprudential stance
- Module 9: An outlook on the future of macroprudential policy
Four live online classes, consolidating the self-paced modules with discussions and group activities:
- Wednesday 2 November, 13:00-14:15 CET: Kickoff live class
- Friday 11 November, 13:00-14:45 CET: Second Live class (Modules 1-3)
- Friday 18 November, 13:00-14:30 CET: Third Live class (Modules 4-8)
- Tuesday 22 November, 13:00-14:35 CET: Fourth Live class (Keynote speeches)

Course director

Tuomas A. Peltonen

Deputy Head of the Secretariat

European Systemic Risk Board (ESRB)

View Tuomas A. Peltonen profile

Core faculty

Thorsten Beck

Director

Florence School of Banking and Finance

View Thorsten Beck profile
Katarzyna Budnik

Principal Financial Stability Expert

Stress Test Modelling Division, European Central Bank

View Katarzyna Budnik profile
Barbara Jarmulska

Senior Financial Stability Expert

European Central Bank

View Barbara Jarmulska profile
Etienne Lepers

Economist

Organisation for Economic Co-operation and Development (OECD)

View Etienne Lepers profile
Marco Lo Duca

Principal Financial Stability Expert

Macroprudential Policy Division, European Central Bank

View Marco Lo Duca profile

Guest instructors

Clemens Bonner

Head of Department Macroprudential Analysis and Policy

De Nederlandsche Bank (DNB)

View Clemens Bonner profile
Stephen G. Cecchetti

Part-time Professor

Florence School of Banking and Finance

View Stephen G. Cecchetti profile
Stephan Fahr

Principal Financial Stability Expert

European Central Bank

View Stephan Fahr profile
Christoph Fricke

Deutsche Bundesbank

View Christoph Fricke profile
Christoffer Kok

Deputy Head of the Stress Testing Modelling Division

European Central Bank

View Christoffer Kok profile
Olaf Weeken

Adviser

European Systemic Risk Board (ESRB)

View Olaf Weeken profile

Keynote lectures

Stan Maes

Acting Head of Macroprudential Unit

DG FISMA, European Commission

View Stan Maes profile
Richard Portes

Professor of Economics

London Business School

Advisory Scientific Committee

European Systemic Risk Board

View Richard Portes profile

Advisors

Thorsten Beck

Director

Florence School of Banking and Finance

View Thorsten Beck profile
Pierre Schlosser

Deputy Director

Florence School of Banking and Finance

View Pierre Schlosser profile

Teaching associates

Evgenia Ralli

Coventry University

View Evgenia Ralli profile
Maria del Carmen Sandoval Velasco

Project Coordinator (CBBS)

Robert Schuman Centre for Advanced Studies

View Maria del Carmen Sandoval Velasco profile

Registration deadline: 27 October 2022

€ 1250 – Private Sector
€ 1150 – Public Authorities (e.g. National Competent Authorities, Central Banks) and European Institutions –
€ 950 – Full-Time Professors, PhD Students, Research Associates
Please submit a certificate attesting your status of Professor, PhD Student or Research Associate to fbf@eui.eu before registering. *Seats for academics are limited.

Please note that the payment must be settled before the start of the course.

Limited seats per institution

A certificate of attendance will be provided to all participants after the course.

CANCELLATION POLICY:

In case you can no longer attend the course, you are required to inform the organisers by sending an email to fbf@eui.eu in order to free a seat for participants in the waiting list.
In case of frequent cancellations, FBF reserves the right not to accept further registrations from the same person.