Strategic Communication and Financial Stability
Approaches to communication have been changing throughout the years, where institutions experience different results. Through more effective sharing of information, higher transparency and improved communication of their policy decisions and forecasts, they have a greater role in economic and structural reforms and policy making. Coupled with greater credibility, they can serve more efficiently as a body for informing the public and advising other institutional bodies in their decision making. Financial stability is an important aspect of the state of the economy and is therefore given a lot of attention in the context of communication.
What was it about?
At this event we looked into how institutions involved in financial stability can effectively communicate internally and externally on financial stability also outside of the scope of standard financial stability reports, throughout the entire year and explore possibilities of strengthening their messages.
At the workshop we discussed:
- Communication across a selection of central banks, financial supervisory authorities, and ministries of finance.
- Institutional and organizational issues underlying the design and implementation of a communication and transparency policy.
- Organizational aspects and effective communication within the organization as a basis for speaking with one voice.
- External communication with different audiences.
- Reporting lines and accountability.
- Different channels of communication with a focus on financial stability issues.
The workshop was designed in an interactive approach, where participants were encouraged in active discussions. We heard about challenges and institutional experience with communication, with an aim to identify good practices, and apply it to the topic of financial stability.
Who was it for?
The course was designed primarily for senior level officials working at central banks, financial supervisory authorities, or ministries of finance directly involved in the design and implementation of communication and media relations, whether from public relations, communications department, or staff from governor’s office, office of the minister of finance or office of the FSA director respectively and open to other staff with a keen interest and experience in this area. Experts directly involved in drafting financial stability reports from financial stability departments were also welcome to apply.
Boris Kisselevsky, European Central Bank
Boris Kisselevsky graduated in business administration, political sciences and law in Paris. After 2 years at Banque de France, he joined the ECB in 1998 as economist before being seconded to the IMF in Washington from 2001 until 2003 and to the Bank of Russia in Moscow as advisor on banking supervision from 2003 until 2005. Back to the ECB, he became advisor to the ECB’s DG International before being appointed Deputy Head of Press and Information in 2009. In 2012, Boris Kisselevsky was seconded to the French Embassy in Moscow where he worked as financial counsellor until 2015. From 2015 until 2017, he was the ECB’s Deputy Head of Outreach Communications, in charge in particular of several outreach projects with the general public and of the ECB’s internal communications. Since September 2017, he serves as Head of the ECB Representation in Brussels.
Gill Hammond, Centre for Central Banking Studies, Bank of England
Gill has been Director of the Centre for Central Banking Studies since 2008. Prior to that she held a number of senior management positions in the Bank of England, mainly in the international economic and monetary policy areas. Her main interest at the CCBS is monetary policy, including communication issues. She has several publications and has given lectures at more than sixty-five central banks around the world. Gill is also involved in the new Central Banking Qualification that the Bank of England is developing with Warwick University. Gill has a masters degree in economics from Cambridge University.
Jean-Luc Quemard, International Banking and Finance Institute, Banque de France
Jean-Luc is the Head of the International Banking and Financial Institute (IBFI), Department at the Banque de France. It implements the external cooperation policy of Banque de France. Jean-Luc was a member of Basel Committee and European Banking Authorities working groups. He published three books on credit risk and securitization frameworks. He is a lecturer at the Paris University and the South University (Toulon- France).
Martin Čihák, Monetary and Capital Markets, International Monetary Fund
Webinar on Digital Communications in Public Institutions.
This learning initiative was supported by: