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Tuesday, August 18, 2009 - Friday, August 21, 2009
Program Overview
Financial crises occur infrequently, but as recent experience has shown, the potential public costs are enormous. Crisis simulation exercises are one way to prepare for such low probability, high impact events. In 2008, the Toronto Centre organized two crisis preparedness
programs that included crisis simulations, one for banking regulators and one for insurance regulators. The need for such programs has increased as the effects of the current financial crisis spreads.
Thus, in partnership with the World Bank, the Toronto Centre will organize a series of regional crisis preparedness programs, which will include crisis simulation exercises.
The Toronto Centre simulations are designed to provide participants with the opportunity to practice the roles that supervisory authorities and central banks play in managing a crisis arising from problems in a potentially systemic financial institution. In particular, the exercises will explore how
supervisors, central banks and deposit insurers co-ordinate in a crisis with each other and with other authorities nationally, and the tools available to them to deal with the systemic consequences of a bank failure.
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