The global financial crisis has shown the need to develop and improve macroprudential analysis methodologies and tools, in order to promote financial stability. The fourth seminar of Banca d'Italia's annual technical cooperation programme therefore presented and discussed recent developments in macroprudential analyses. A particular focus was placed on the discussion around the relevance of stress testing techniques, as both macroprudential and microprudential tools, as well as on the most important methodological and organisational issues regarding stress test design and implementation.
Banca d'Italia illustrated its stress testing framework, which includes both a top-down and a bottom-up approach, with the latter recently integrated in the framework of EU-wide stress tests. Presentations were also delivered by an expert from the European Banking Authority and an economist from the International Monetary Fund, who described how their respective Institutions address the issues discussed.
In order to stimulate debate on different national perspectives, three participants were invited to present the experience of their respective authorities in the area of macroprudential analyses and stress testing and a final panel discussion was held on "macroprudential analyses and stress testing after the global financial crisis".
