Course on Macroprudential Policy: Strategy & Implementation

This course is the first edition of an initiative expected to be of strong interest to CEMLA’s membership and collaborating institutions. It responds to the growing importance of macroprudential policy as a key instrument for safeguarding financial stability, particularly in emerging market economies, with a specific focus on the Latin American and Caribbean context.

The program aims to discuss the implementation of macroprudential policies, drawing on the experiences of countries in Latin America. Topics include the key objectives of macroprudential policy; the institutional and analytical frameworks required to assess systemic risk; capital-based instruments such as the Countercyclical Capital Buffer (CCyB); commonly used borrower-based measures (e.g., loan-to-value ratios); best practices for the calibration and design of these tools; key implementation challenges; and potential interactions with monetary policy and microprudential instruments. The course is intended for mid- to senior-level officials from central banks and financial regulatory authorities in Latin America and the Caribbean.