About this learning event

This workshop will provide a structured and practice-oriented exploration of how central banks design, calibrate, and assess macroprudential policy tools across different institutional contexts. The program will be sequenced from foundational frameworks to advanced analytical approaches, enabling participants to build a coherent understanding of the macroprudential toolkit.

Participants will examine the construction of macroprudential frameworks, including governance, data infrastructure, and risk identification systems. The workshop will then move to the calibration of core instruments, with a strong focus on capital-based measures—particularly the countercyclical capital buffer (CCyB)—and the adaptation of borrower-based measures (BBMs) to evolving risks such as housing market vulnerabilities. Special attention will be given to systemic risk buffers (e.g. O-SII) and cross-border coordination, including reciprocity arrangements within integrated financial systems. Country cases will provide insights into the interaction between national policy choices and broader EU frameworks. Finally, analytical frameworks for policy assessment will be introduced, notably the Growth-at-Risk approach, which links macro-financial risks, resilience, and policy stance.

Through expert inputs and peer exchange, participants will strengthen their ability to assess systemic risks, calibrate instruments, and communicate policy decisions in increasingly complex financial environments.

Who should attend

This workshop is designed for officials working in financial stability and macroprudential policy departments of central banks.

Faculty

• Borut Poljšak, deputy director and Head of the Macroprudential Policy Development and Implementation Section, Bank of Slovenia
• Marija Drenkovska, Researcher at the Macroprudential Policy Development and Implementation Section, Bank of Slovenia
• Martien van der Burg, Policy Economist – De Nederlandsche Bank
• Lana Ivičić, Chief Advisor, Macroprudential Policy and Financial Stability Department, Croatian National Bank
• Artur Rutkowski, Economic Expert, Macroprudential Policy Division, Financial Stability Department, Narodowy Bank Polski
• Milica Arnaudova Stojanovska, Advisor to the Governor, managing and coordinating Operations of Financial Stability and Macroprudential Policy Department and Banking Regulations and Resolution Department, National Bank of Republic of North Macedonia
• Zana Gashi, Director, Financial Stability, Research and Economic Analysis, Central Bank of the Republic of Kosovo

Partners

This learning initiative is supported by: