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Tuesday, Apr 14, 2020

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Centre of Excellence in Crisis Preparedness

 

 - Dr. Stefan Ingves, Chair, Toronto Centre Board of Directors; Governor, Central Bank of Sweden          

Press Release, March 26, 2020           

What We Offer

  • Foundational or customized programs and simulations for financial supervisors and regulators from all sectors; banking, securities and insurance and pensions, and cross sector at national and regional levels.  Our practical and interactive programs incorporate leadership skills such as business continuity planning, communication, coordination and issue management among financial safety net participants
  • In-depth knowledge and expertise from seasoned financial sector supervisors 
  • Knowledge products such as TC Notes which provide practical guidance on how to prepare and respond to crisis

 

Supporting You in Crisis Preparedness: A Toolkit

Crisis Resource Bundle
Toronto Centre Webcasts and Podcasts

In this 4-part webcast series, TC explores with leading experts on how financial supervisors and regulators can best manage the impact of the pandemic on financial stability.

Pandemic & Financial Stability: Click to watch Part 1
Click to listen to audio on TC podcasts
Pandemic & Financial Stability: Click to watch Part 2
Click to listen to audio on TC podcasts
Dr. David Nabarro and Carl Hiralal Vincent Reinhart and Socorro Heysen

Pandemic & Financial Stability: Click to watch Part 3
Click to listen to audio on TC podcasts
Pandemic & Financial Stability: Click to watch Part 4
Click to listen to audio on TC podcasts
Timothy Adams and Bill Coen Martin Moloney and Clive Briault
Click to listen to audio on TC podcasts  Click to listen to audio on TC podcasts
Paul Wright and Clive Briault  Dr. David Nabarro, Stefan Ingves, and Socorro Heysen
TPandemics & Financial inclusion - A Toronto Centre webcast seriesPandemics & Financial inclusion – A Toronto Centre Webcast Series

Part 2 - Pandemics & Financial inclusion - A Toronto Centre webcast seriesPart 2 - Pandemics & Financial inclusion – A Toronto Centre Webcast Series

Timothy Antoine and Greta Bull Dr. Reza Baqir and Ceyla Pazarbasioglu
Virtual Executive Panel - COVID-19: Supervising the New Normal) Virtual Executive Panel - COVID-19: Supervising the New Normal)
John Rwangombwa and Conor Donaldson Ernest Addison and Christopher Calabia
The Art and Science of Business Continuity Planning (BCP)The Art and Science of Business Continuity Planning (BCP) Virtual Executive Panel - COVID-19: Supervising the New NormalVirtual Executive Panel - COVID-19: Supervising the New Normal)
Babak Abbaszadeh and Gerry Lewis Executive Panel at the IMF/WB Virtual Spring Meetings 2020

 

Discussion with Dr. Olaf Weber, Toronto Centre Program Leader, Professor at the School of Environment, Enterprise and Development (SEED) and Research Chair in Sustainable Finance at the University of Waterloo highlights the importance of broadening existing financial supervisory tools to incorporate risks outside the financial sector such as COVID-19, climate change and other events as they have material impact on the economy and the financial industry.

John Pattison, Toronto Centre Program Leader highlights some of the supervisory challenges during and after a very peculiar crisis like COVID-19, and what financial supervisors and regulators should focus on as they operate in this new normal.

Jorge Mogrovejo, Superintendente Adjunto de Banca y Microfinanzas de la Superintendencia de Banca, Seguros y AFP sobre la situación en el Perú y las medidas regulatorias y de supervisión que se han tomado para manejar la crisis. 

Mutumboi Mundia, Director – Market Supervision and Development and Mubanga Kondolo, Manager – Financial Inclusion at the Securities and Exchange Commission Zambia discuss how financial supervisors and regulators are navigating the current global pandemic crisis whilst continuing and leveraging opportunities for the national financial inclusion agenda, and in particular in Zambia.

 

The impact of COVID-19 on Asia’s economic outlook and financial stability Dr. Hoe Ee Khor, Chief Economist of the ASEAN+3 Macroeconomic Research Office (AMRO) discusses the key findings from its flagship report, the ASEAN+3 Regional Economic Outlook 2020 on the impact of the COVID-19 pandemic on Asia’s economic outlook and financial stability

Strategies for Supervisors to Cope with Stress During COVID-19

Max McConnell, Psychotherapist and Registered Social Worker, offers some strategies for financial supervisors to deal with the stress and widespread disruption to their professional and personal lives during the COVID-19 pandemic.

Pandemia y Estabilidad Financiera: La perspectiva de la Banca Central

Gerardo Hernández, Co-Director del Banco de la República (Colombia), presenta las respuestas de política que han tomado las autoridades colombianas para enfrentar la situación creada por la Pandemia del COVID-19 y sus limitaciones en una economía emergente

Pandemia y estabilidad financiera: la visión desde el Cono Sur

 

 

 

Juan Pedro Cantera, Superintendente de Servicios Financieros de Uruguay, presenta las respuestas de política que han tomado las autoridades uruguayas y del sur del continente para enfrentar la situación creada por la Pandemia del COVID-19

Crisis Económica por COVID-19- Retos y Enseñanzas para los Supervisores Financieros

Juan P. Arango, Director de Programa del Toronto Centre, habla con Jorge Castaño Gutiérrez, Superintendente Financiero de Colombia, sobre los retos y las enseñanzas que nos va dejando esta crisis a los supervisores.

COVID-19 y Estabilidad Financiera: El caso de la Supervisión de Seguros

Juan P. Arango, Director de Programa del Toronto Centre, habla con Tomas Soley, Superintendente General de Seguros de Costa Rica, sobre los retos y las enseñanzas que nos va dejando esta crisis a los supervisores.

The Power of Communication During a Financial Crisis

Cecilia Skingsley, Deputy Governor of the Riksbank, discusses the importance of communication in times of financial crisis and stability.

 

our recent TC Notes on Crisis Preparedness

Ten Issues for Supervisors During Crises

 Toronto Centre Note discusses seven potential implications and priorities for supervisors regulating Islamic banks in response to the COVID-19
pandemic in dual banking systems 

Sets out the main issues that supervisors need to consider in a crisis and offers suggestions for how these might be addressed, both generally and in the current crisis.

 

Supervising Corporate Governance During Crises
Discusses some of the immediate and medium-term options for banking supervisors in response to the COVID-19 outbreak.  Sets out the main issues that boards and senior management of supervised firms need to address as a result of the COVID-19 outbreak. The broad conclusion is that sound corporate governance is more essential than ever.
Turning Risk Assessments Into Supervisory Actions Business Continuity Planning for a Supervisory Authority
Sets out a framework for turning risk assessments into firm-specific supervisory programs.  

Outlines the key elements of a Business Continuity Plan (BCP) and relates these to the specific circumstances of a supervisory authority.

 

Crisis Binder 

Designing and Implementing a Systemic Financial Crisis Management Simulation

Discusses what is a crisis binder; importance of having a crisis binder; what makes a crisis binder useful; preparing a crisis binder; and content of a crisis binder. 

Provides background on the design and implementation of bespoke system-wide financial crisis management simulations (SWFCMS) intended to test system-wide responses to financial sector crises. 
 

 

What Our Partners and Participants Say

  • “The simulation exercise enabled me appreciate the many options/scenarios that come into play during crisis.”

    (past participant from Kenya, 2020)

  • “Toronto Centre helped me to appreciate the importance of carrying out crisis simulation exercises and as an organization we have planned to carry out the same with the assistance of Toronto Centre this year. This will be a key milestone for us, the project has been pending for the last two years but now all the approvals have been granted for training and execution.”

    (past participant survey from Kenya, 2020)

  • “The exposure gained in crisis preparedness places me in a better position should I be confronted by the situation.”

    (past participant from Kenya, 2020)

  • “We are at the drafting stage of our country's Crisis Preparedness Binder Framework as a result of having attended a training provided by the Toronto Centre specialists on the subject. ”

    (past participant from Eswatini, 2019)

  • “Have made progress in crisis binder preparation and deposit insurance development. ”

    (past participant from Eswatini, 2019)

  • “Toronto Centre has helped my agent appreciate importance of crisis management and crisis preparedness. Finalizing crisis binder for our resolution regime. ”

    (past participant survey from Eswatini, 2019)

  • “I had the opportunity to simulate a crisis situation and this gave me more new experience and how to act. ”

    (past participant from Brazil, 2019)

  • “The RPG activities gave us the opportunity to simulate real crisis situations to an extent that also demanded the use of resolution techniques. I had the opportunity to see some similar situations, however not in the position of taking decisions. Early action benefits were made clear to me and I really feel more likely to realize a crisis sooner than I would be able to before attending this training with Toronto Centre. ”

    (past participant from Brazil, 2019)

  • “Toronto Center program helped me in finalizing the Crisis Management handbook with respect to cross-border corroborations. ”

    (past participant from Zambia, 2018)

  • “Toronto Centre helped me to look into and evaluate any crisis more prudently and handle it effectively.”

    (past participant from Bangladesh, 2018)

  • Read the proceedings from our Community of Practice on Business Continuity Planning 

 

Learn More about TC’s Crisis Simulations

TC President and CEO Babak Abbaszadeh introduces TC’s approach and experience in providing simulation-based bespoke crisis management training at the 9th FSI-IADI Conference on Crisis Management, Bank Resolution and Deposit Insurance. Read more

 

 

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