About this learning event

This initiative aims to bring closer the Eurosystem's monetary policy operational framework. We will talk about the use of different monetary policy instruments, standard and non-standard measures and their effects on the central bank's balance sheet and liquidity conditions. This webinar will provide an opportunity to share the experience of selected national central banks in their local implementations.

The webinar will place the monetary policy operations in the context of broader monetary policy strategy, emphasizing the link between the policy formulation and its implementation. It will focus on the monetary policy instruments. Particular attention will be devoted to the current measure and the ECB assessing the appropriate monetary policy stance. The core of the webinar will be a discussion around actual challenges that may have an implication on the monetary policy.

The participants will be able to learn and discuss about the following:

• Overview of  Eurosystem monetary policy implementation,
• Strategy review,
• Standard and non-standard monetary policy instruments,
• Counterparty & Collateral frameworks,
• Eurosystem's balance sheet and liquidity conditions,
• Lessons learned in recent years and
• Future challenges (climate change risk, risk of higher inflation, etc.).

Target audience

Officials of monetary policy and banking operations or financial market departments of central banks, officials of ministries of finance and treasuries, and others interested in the Eurosystem monetary policy.

Faculty

• Cilka Ferjančič, Consultant analyst, Liquidity Management and Collateral Division, Banking Operations Department, Bank of Slovenia

Cilka is a senior analyst with more than 20 years' work experience at the central bank. Skilled in monetary policy implementation, collateral management, emergency liquidity assistance procedures, and monitoring financial markets. She is also an expert in interest rate benchmarks reforms. She is a member of the "Working Group on Monetary and Exchange Rate Policy Instruments and Procedures" and "Collateral Management Network" at the European Central Bank. She studied at the Faculty of Economics at the University of Ljubljana and graduated in 1993, specialized in finance. She is the author of several articles on money market, government securities, collateral management and interest rate benchmarks reforms published in the Journal of Money and Banking.

Practical Information

The webinar will be delivered on September 27, 2022 from 9:00 and be finished by 10:30, CEST. Please book the time slot in your calendars already by now.

Partners

This learning initiative was supported by: