Today, on 29th October, the first edition of the ‘Macroprudential Policy Implementation’ online course finished. The three-week online course covered the key objectives and instruments of macroprudential policy in the European context, engaging in more details with the implementation and use of selected macroprudential instruments.
Guided by course director Tuomas Peltonen (Deputy Head of the Secretariat at the ESRB), the course instructors, on the basis of their expertise in the field, have exposed participants to the key theoretical assumptions and a set of practical case-study exercises, among others on capital flows and on the activation of macroprudential instruments in response to identified vulnerabili-ties, on the unpegging of the Swiss franc and on the 2015 Danish crown pressure episode.
In their progression in the course, participants have had the possibility to join live discussions with the faculty members and to interact with high-profile guest speakers including Richard Portes (London Business School) who delivered a keynote speech on the topic of ‘dash for cash’ at the start of the pandemic in March 2020, and Gaston Gelos (Assistant Director and Chief of the Monetary and Macroprudential Policies Division at the IMF) and Ralf Jacob (Head of the Macroprudential Policy Unit at the European Commission’s DG FISMA) invited for a discussion on the lessons from the COVID crisis for macroprudential policy.
Participants praised the very high level of the topics presented in the course, as well as the commitment and the availability of all course instructors.