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Central banks

When Financial Crises Attacks

11am on a Tuesday


Since 2009, the World Bank has been conducting financial crisis simulation exercises and learning valuable lessons on where institutional vulnerabilities lie. These exercises are intended to test, or simply to practice, the use of existing or proposed legal instruments, interagency and/or cross-border agreements, and other crisis management arrangements. More than 20 exercises in all world regions have been executed so far, focusing either on the interaction among top national authorities (typically between the Ministry of Finance, the Central Bank, the Bank and non-bank Supervisors, and the Deposit Insurance Agency), or on the interaction among bank supervisors of different national jurisdictions dealing with cross-border issues.