CCBS mission and approach
High-level mission and strategy
Our Centre was established in 1990 and is one of the oldest providers of international central banking technical co-operation and assistance.
Our mission is to equip central bankers and financial regulators – both in the UK and across the globe – with the frontier skills and expert knowledge they need to tackle the challenges they face.
We do this to promote global and UK economic stability, as well as to support wider international development objectives. Our ambition to be at the frontier of global central banking also directly supports the Bank of England’s international mission.
Working with our colleagues across the Bank of England, we achieve this through:
- Our programme of international seminars and conferences for central bankers and regulators from all over the world. These cover a blend of:
- novel and emerging areas which are high on the international central banking policy, operational and research agendas;
- the best in class toolkits, techniques and approaches used in modern central banking; and
- thematic and traditional areas of central banking – where we believe we can help build skills through the sharing of our experience.
- Our programme of technical co-operation and training with specific central banks in emerging Africa and Asia. This programme has been developed through our partnership with the Foreign, Commonwealth and Development Office.
- Conducting our own analytical work and research to push the knowledge frontier and showcasing that internationally.
- We also support the Bank’s wider internal and external skill-building activities, most notably, the post-graduate qualifications in global central banking and financial regulation developed with Warwick Business School.
Our approach to international seminars and workshops
Our international seminars and workshops are for central bankers and financial regulators only and are directed at experienced professionals. This approach allows us to promote open and frank debate among our community. Most are open to central bankers and regulators from all over the world. Some, however, are by invitation only. Our research and analytics focused conferences are also open to the academic community.
They tend to be pitched at the cutting-edge of central banking and financial regulation. And in all our work we endeavour to promote best practice.
They are practitioner focused, drawing on our own experience, those from other countries as well as in some cases experts from academia and other organisations. Our format is usually a mixture of lectures, discussions, case studies and exercises.
We promote diversity in all its forms. We offer an inclusive environment and actively encourage the sharing of experience. We are keen to learn from the rest of the world and challenge our own thinking, particularly in our policy seminars.
Moreover, we strongly encourage diverse participation in terms of race; gender; sexual orientation; disability; religion as well as local minorities in your home countries. We politely ask decision-makers to bear this in mind when nominating candidates.
All our international seminars and workshops are free of charge.
In person and virtual seminars in 2024
Most of our seminars continue to be offered on a virtual-only basis. This reflects financial and carbon considerations. It also allows for greater participation from colleagues across our central banking and regulatory community. We recognise, however, that some activities benefit from in person presence, in order to establish networks and contacts, particularly for high-level and research events. So as indicated in the programme, we will be running some of these physically in London.
Your views
We wish to understand better those areas where you would like to hear from the Bank of England. This will help inform the content of our current programme as well as help develop our future work. We are also keen to hear your views on whether our programmes should be run physically or virtually. Please complete our survey to have your say.
Virtual seminars
Cutting-edge analytics and toolkits
R for econometrics
6–8 February 2024
Event Director:
Andrew Blake
Open-source statistical software continues to grow both in importance and capability. R, one such statistical language, is an attractive platform for the central bank econometrician to use. Standard econometric methods – and many advanced ones – are readily available, with a growing list of leading practitioners creating libraries and packages. R can now feasibly replace a dedicated package as a primary econometric tool, with access to an impressive array of contemporary methods.
This event shows the power of R to do econometric analysis, leveraging the tools of the tidyverse to manipulate and visualise data effectively, using the programming language itself together with powerful, expert-authored R packages to create models for both time series and cross-sectional data. This includes building and testing classical regression models, covering topics such as clustering standard errors for cross sectional inference, stationarity testing for time series and applications of quantile regression. Bayesian estimation through both Gibbs Sampling and the Metropolis-Hastings algorithm is illustrated, with examples using transparent code as well as exploring dedicated packages.
Target group:
Applied economists in any area of a central bank/regulatory authority that use econometric methods to routinely analyse data and want to investigate how R can help them in this task. We cover the use of R from data manipulation, through standard (and some non-standard) econometric analysis to report writing in an integrated environment. Some knowledge of R is a prerequisite, and a familiarity with the tools of the tidyverse will further aid understanding.
Applied Bayesian econometrics
12–14 March 2024
Event Director:
Andrew Blake
This long-running CCBS seminar introduces participants to Bayesian thinking and some of the techniques frequently used in Bayesian econometrics. Bayesian methods are extremely useful for modelling and forecasting, particularly in central banks faced with either limited data or potential structural change. The event provides an overview of the theory, developing it from standard linear regression, through to practical implementation with computer-based exercises in MATLAB. Topics include understanding Gibbs sampling and the Metropolis Hastings algorithm, with applications such as the Bayesian estimation of time-varying parameter models, VARs and DSGE models.
Target group:
This seminar is aimed at economists working in the monetary policy, financial stability and research departments of central banks and regulatory authorities. They should have experience of classical econometrics (eg OLS, MLE) and be keen to understand Bayesian thinking. A knowledge of MATLAB programming is essential for this course, as is access to MATLAB on your own computer.
Current priorities and topical issues in central banking and financial regulation
Key current issues in the international monetary and financial system (IMFS)
29 November–1 December 2023
Event Director:
Glenn Hoggarth
This workshop will assess the impact of the various shocks affecting the global economy and the policies taken by central banks in high-income countries and emerging and developing countries to bring inflation back to target. It will cover the potential short-term trade-offs in the timing and scale of raising policy rates set against the backdrop of a slow growing world economy, the war in Ukraine and the lingering impact of Covid-19.
It will also take stock of the state of the international financial architecture. At the current conjuncture, record-high sovereign debt, volatile capital inflows, especially from non-bank financial institutions, and a strong US dollar are posing financial risks to a number of emerging and developing countries. More broadly, the IMFS that has developed and, in general, served the global economy well over the past 75 years is at risk of fragmenting.
The workshop will also focus on structural issues affecting central banks individually and collectively. It will consider the role of technology in revolutionising the global payment systems, the potential costs and benefits of central bank digital currencies (CBDCs) and their impact on the IMFS. It will also cover the role that central banks are playing in assessing the impact on the financial system of climate change and the transition to a net-zero emissions economy. The workshop will conclude by looking ahead to next year’s finance work programme of the G20 and the Financial Stability Board.
Target group:
This event is aimed at those leading or supporting the central bank’s work and engagement on the international economy including at international fora such as the IMF, G20, FSB and the BIS. It will include short set-piece presentations by Bank of England staff or invited experts and a moderated roundtable discussion between participants. We welcome offers from colleagues from a diverse range of jurisdictions to share their experiences.
Climate disclosures and transition plans: central bank perspectives
12–13 December 2023
Event Directors:
Danae Kyriakopoulou, Lukasz Krebel and Michael Smart
The workshop aims to bring together participants from across central banks to discuss and share experiences of developing and publishing their climate disclosures and transition plans.
The Task Force for Climate-related Financial Disclosures (TFCD) has made recommendations, structured around four thematic areas that represent core elements of how organisations operate: governance, strategy, risk management, and metrics and targets.
The Bank of England has a mandate to play a leading role through its policies and operations in ensuring the financial system and macroeconomy are resilient to the risks from climate change, and to support the transition to a net-zero emissions economy.
The Bank also aims to apply the same high standards that it requires of the firms it regulates to its own policy functions and internal operations.
One of the key tools for accomplishing this mission, both external and internal, is the use of climate-related financial disclosures. The latest edition of the Bank’s own climate-related financial disclosures was published in June 2023 alongside its first carbon transition plan.
Meanwhile, climate disclosure policy is evolving, with new standards very recently published by the International Sustainability Standards Board (ISSB). This will have implications on disclosure practices, including for central banks and regulators.
Navigating this fast-evolving environment and translating standards to the business models of central banks is complex, but increasingly necessary.
This workshop will provide opportunities to discuss developments in international disclosure standards for climate and nature and their impact on central banks.
Target group
The workshop will consider the latest developments and issues in climate disclosures. It is aimed at central bankers and regulators who are interested in, and have a responsibility for monitoring, assessing, identifying, or mitigating their own organisation’s exposure to climate-related financial risks, or those who are involved in the development or monitoring of those disclosures (including both annual TCFD-aligned reports and transition plans). We particularly encourage central bankers and regulators from emerging and developing markets to join us.
Innovation in payments systems and technology
18–19 April 2024
Event Director:
Matthew Pegg
The advancing digitisation of economies is creating opportunities for innovation in payments. Technological developments and regulatory initiatives have opened up the sector to competition, with new institutions and new business models emerging and changing the shape and length of traditional payment chains.
Regulators globally are implementing a road-map for enhancing cross-border payments. Central banks are refreshing their own infrastructure and, while doing so, are making the most of the opportunity to increase resilience, interoperability and access.
Many central banks are researching, piloting or have launched central bank digital currencies, as a form of trusted money in an increasingly digital world. Authorities are also considering challenges and risks for public policy, oversight and regulation posed by stablecoins.
Target group:
Participants should have some expertise in payment systems with a particular focus on innovation in payments as it relates to central banking and regulation. The event will likely require participation from delegates. We welcome offers from colleagues to present on payments innovation in your organisation.
International – The approach of financial services regulators to an evolving trade policy landscape
12 June 2024
Event Directors:
Himali Hettihewa and Robert Miller
The Bank of England’s International Directorate is hosting a technical workshop which aims to build on discussions initiated in 2022 around the engagement of central banks and financial services regulators in the negotiation of international trade agreements. This workshop will conduct an exploration into topical questions in financial services (FS) trade. Further detail to follow, but themes currently under consideration include how central banks can harness digital trade developments and ensure ‘safe’ liberalisation in financial services.
The focus will be on engaging a group of specialists with technical expertise in matters of international trade and exchanging views on a range of topic issues.
Target group:
As this is intended to be an interactive technical workshop, we welcome expressions of interest from central bankers and financial regulators who have contributed to the development of trade agreements and have deep expertise in FS trade policy.
Making markets more resilient
3 July 2024
Event Director:
Christine Jayaseelan
There have been serious threats to financial stability from outside the core banking system and occurring in financial markets in recent years: the strains that emerged in US repo markets in 2019, the 2020 ‘dash for cash’, the failure of Archegos in 2021, the near-collapse of commodity market functioning in Spring 2022 and the UK’s liability-driven investment (LDI) fund crisis later that same year.
While the triggers for several of these events were highly unusual, the risks posed by non-bank financial institutions (NBFIs) to financial stability are on a growing trend. NBFIs have become increasingly important players in the core markets that lie at the heart of the economic and financial system. But the intermediation capacity in these markets, particularly from dealer banks, has failed to keep pace with their burgeoning size and struggles to meet the consequent demand for liquidity, particularly at times of stress.
This event aims to discuss issues around making financial markets more resilient, including NBFI’s leverage and resilience, market structure changes that could make markets more resilient, liquidity provision by NBFIs, NBFI’s trading behaviour and financial stability.
Target group
Participants should be actively working on these topics in their organisations, whether in research, policy or market-facing roles. The aim of the event is to encourage debate and discussion and to share thinking and approaches. Participants should be ready to participate actively in the discussions.
Central counterparty (CCP) supervisory stress testing – a regulatory perspective
16–18 July 2024
Event Directors:
Krzysztof Drenda, Sarah Venables and Michael Smart
CCPs lie at the heart of the global financial system and are crucial to efficient functioning of financial markets and the wider economy. Resilience of CCPs to severe shocks is important to CCPs themselves, their clearing members and clients, and global financial markets. Supervisory stress testing has become an important tool for regulators in assessing CCPs’ resilience and has seen great progress in recent years in terms of coverage, methodology innovation and international co-operation and knowledge sharing.
The workshop will bring together experts and supervisors from across central banks and regulators to explore CCP supervisory stress testing and share lessons and experiences. You will gain insight from a strategic perspective as well as practical technical knowledge. You will learn about the full life-cycle of a CCP supervisory stress test from the design stage, through data collection and validation, the calculation process, to interpretation and publishing of results. The workshop will include an open discussion on what CCP stress testing results really tell us and how to apply findings to wider supervisory and policymaking activities, as well as how it can help understand interdependencies in the financial system and CCPs’ impact on other entities. It will also cover the potential for increasing international co-operation and exciting options for the future.
Target group:
The event is aimed at central bankers and regulators with an interest or responsibility for supervising, monitoring, assessing, identifying or mitigating risks related to central counterparties; supervisory stress testing of financial services firms; or development of relevant policies on supervisory stress testing or risk management. It is not only open to expert practitioners, but also to regulators who may be interested in learning more about the role supervisory stress testing can play as a regulatory tool. We welcome offers from participants to share their experiences.
Building public trust and engaging with the public: communicating in a crisis
Date TBC
Event Directors:
Céline Gondat-Larralde and Rhiannon Sowerbutts
A high level of public trust is fundamental for central banks to deliver on their mandates. Stating that we are trustworthy is not enough – central banks have to demonstrate it. But building public trust is challenging. Clear and robust governance processes, as well as accountability frameworks can help to build trust, as can clear communications and transparent explanations of policy decisions, and engaging with the media. Relating to and engaging with the public is important – but central bankers can often be seen as out of touch. If building public trust is challenging – rebuilding it after it has been lost is even more so.
In these times of economic and financial uncertainty central banks are coming under particular scrutiny. This can be both a challenge and an opportunity. This event aims to explore and discuss how we can build public trust, engage with the public and communicate – in particular during times of stress.
There will be a complementary, invite-only, event following it to discuss communication in a crisis – when public trust is particularly salient.
Target audience:
The target audience is anyone involved in building the reputation of a central bank or regulator, these are most likely practitioners working in communications and external engagement parts of their institution. The event will require participation and discussion from delegates and we welcome offers to speak about your institution’s experience.
Research and analytics-focused conferences
New evidence on the monetary transmission mechanism workshop
Date: 15–16 April 2024
Event Directors:
Andrew Blake, Angus Foulis and Jagdish Tripathy
Successful monetary policy has become more challenging in recent years as the world economy has been subjected to unprecedented events. Central banks need to reconsider how best to achieve their targets in markedly changed circumstances. This workshop will bring together leading researchers and policymakers to discuss frontier empirical research on the transmission mechanism of monetary policy and consider it might impact on policy choices in the light of competing objectives.
This event will be held in person.
5th Workshop on household finance and housing
6–7 June 2024
Event Directors:
Angus Foulis and Jagdish Tripathy
This workshop will bring together leading researchers to present frontier empirical and theoretical work related to the Bank of England Agenda for Research in the broad fields of household finance and housing. It follows on from successful workshops and is jointly organised with Imperial College Business School.
Target group:
Academics, central bank economists and financial regulators in the areas of household finance and housing are welcome to attend. Papers included in the programme are by invitation.
This event will be held in person.
