Making Finance Work for Africa Convenes African Central Banks to Discuss “Macro-prudential Surveillance"
Senior officials from African central banks gathered in Algiers to kick off training seminar on "Macro-prudential Surveillance"Senior officials of twenty one (21) African central banks met in Algiers from 5th to 10th September for a training seminar on the theme: "Macro-Prudential Surveillance: Multiple Views, One Objective ". Dr. Mohamed Laksaci, Governor of the Central Bank of Algeria and Mr. Boubacar Traore, the African Development Bank's Resident Representative in Algeria used their opening remarks to encourage participants to use the knowledge they will acquire to reinforce financial sector regulatory and supervisory frameworks and strengthen the resilience of African financial systems against systemic risks and potential shocks. The establishment of macro-prudential surveillance systems to promote financial stability is a key challenge for central banks worldwide in the aftermath of the global financial crisis.The workshop offered
a broad perspective on various aspects of macro-prudential surveillance and policy, and aimed to provide participants with both the concepts and practical tools in this rapidly evolving field. The program provided
participants with a better understanding of the relevance of the macro-and micro-prudential dimensions, how to improve analytical tools to identify risks, the measurement and assessment of systemic risks, implementing stress-testing programs, identification of and responding to risks posed by Systemically Important Financial Institutions (SIFIs) and the importance of policy coordination. The workshop was held under the auspices of the Community of African Banking Supervisors (CABS), a joint initiative of Making Finance Work for Africa (MFW4A) and the Association of African Central Banks (AACB), and with support of the German Federal Ministry of Economic Cooperation (BMZ) through the German Agency for International Cooperation (GIZ). The training was delivered by the Toronto Centre, a not-for-profit organization that promotes financial stability globally by building the capacity of financial sector regulators and supervisors, particularly in emerging markets and low-income countries. More than 40 central bankers and resource persons attended
this 5-day seminar that will wrap up on September 10, 2015.