Background

FIRST is asked to fund the workshop on Crisis Preparedness for Financial Regulators and Supervisors, Central Bankers, Deposit Insurance and senior Ministry of Finance officials which is held in Rwanda from 18th to 21st May 2010.

The Program is designed to provide participants from Rwanda, Kenya, Uganda, Tanzania, and Burundi with the opportunity to practice the roles that monetary policy makers in central banks, supervisory/regulatory authorities and deposit insurance corporations play in managing a crisis arising from problems in a potentially systemic financial institution.

Project

Goal:  National financial systems are subject to periodic shocks that can undermine financial intermediation and financial market functioning.

The seminar will address:

 Contingency planning and the testing of plans using simulation exercises.

 Central Bank instruments for dealing with financial crises

 Dealing with problem and failing institutions

 Crisis management

 Financial crisis simulation

Outputs: In a simulated environment, the participants are able to (i) practice using processes of contingency planning and dealing with failing banks; (ii) co-ordinate with supervisors, central banks and deposit insurers and with other authorities nationally in a crisis; and (iii) deal with systemic consequences of bank failures. At the end of the program, participants should be able to examine the critical components of a crisis preparedness/contingency planning guide in the event of a financial crisis, in accordance to international best practices. 

The workshop includes several presentations and case studies on central bank instruments regarding bank resolution and dealing with problem bank and failing institutions. In addition, there is a one-day multi-stage crisis simulation exercise which increases the awareness of authorities regarding the importance of capacity to respond problems in a timely manner.

Project LIFE TIME is 1 month, starting in June 2010

Project BUDGET is $102,000

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