The West African Center for Banking Studies and Training (COFEB), in collaboration with the Banque de France’s International Banking and Finance Institute (IBFI), organized a seminar on “Financial Stability and Macroprudential Policy” on October 16 and 17, 2024. This event took place in a hybrid format, welcoming attendees both in-person at the BCEAO headquarters in Dakar and virtually through videoconferencing.
In addition to BCEAO staff, the seminar was attended by approximately fifty participants from five other central banks in French-speaking countries, including Guinea, the Democratic Republic of Congo, the Comoros, Algeria, and Tunisia. Regulatory authorities that are members of the Financial Stability Council in WAMU (CSF-UMOA), specifically the WAMU Financial Markets Authority (AMF-UMOA) and the Inter-African Conference on Insurance Markets (CIMA), also participated in the event.
The seminar sought to deepen participants’ understanding of the challenges surrounding financial stability policy while promoting the sharing of best practices in terms of macroprudential policy. A diverse array of subjects was explored during the discussions, ranging from macroprudential governance and harmonization of monetary and macroprudential policy to stress testing and management of systemic risks.
The opening ceremony was presided over by Mahaman Tahir Hamani, General Manager of COFEB, and Yaye Aminata Seck Mbow, Director General of Financial Stability and Financing of the Economies. Mr. Hamani emphasized the important role of the seminar as part of the efforts of the BCEAO and the Bank of France to promote capacity building in the area of financial stability.
At the end of the two-day gathering, Fernand Aboutou, Advisor to the General Manager of COFEB and Director of Teaching and Training Programs, led the closing ceremony. The participants commended the high quality of the contributions and the insights shared, in particular with respect to the calibration of macroprudential instruments and the implementation of early warning systems to predict financial crises.