COMPARATIVE CENTRAL BANKING.
I recommend this programme to any finance, or central banking professional whose aim is to develop the real-life skills necessary to navigate the industry and take it to the next level. Kechewia Charles Global Central Banking and Financial Regulation, Graduate.
Module overview . Explore and discover why central banks have different mandates, objectives, governance and operating procedures and gain an understanding of the scope of possible policy choices across the broad range of central bank activities. You will learn to draw comparisons between the US, Europe, Japan and EMEs (including fixed exchange rate regimes), and explore case studies on how central bank operations – to support both monetary and financial stability – have evolved to meet the needs of economic crises such as the Great Financial Crisis and the Covid-19 pandemic. The module will touch on all of a central bank’s typical roles including monetary policy; financial stability; balance sheet and reserves management; market operations; banknotes; lender of last resort, supervision and regulation; and other regulatory issues such as market conduct, payments, resolution and digital currencies. Who would benefit from this module? This module would benefit those working in or with central banks who are looking to gain a fundamental understanding of central banking policy and processes and how they relate to current and future career roles.
Faculty . On this module you will hear from a diverse and global pool of speakers.
Key benefits .
Sector understanding . Gain a fundamental and holistic view of the central banking sector.
This module is led by Paul Fisher (Former Executive Director, Bank of England) and Diarmuid Murphy (Former Central Bank of Ireland, IMF, ECB and European Commission, currently Director, IOB) and features insights from a range of speakers including former Governors Patrick Honohan (Ireland), Grant Spencer (New Zealand) and Brian Wynter (Jamaica); Deputy Governors such as Sir Andrew Large (UK), Archil Mestvirishvili (Georgia), Hiroshi Nakaso (Japan) and Fernando Restoy (Spain) plus a wide range of other senior central bankers, regulators, academics and market participants. Module structure . The module lasts for 17 weeks and culminates in an assessment. Module materials are organised into 10 lessons – each lasting one week. You can expect to spend around 11 hours studying per lesson. Lessons include reading materials, video interviews, discussion points, reflection activities. There are four wbsLive online sessions with your tutor.
Latest tools and best practice . Immediately apply the latest tools and best practice to your role. Insight into policy . Insight into why central banks around the world differ in their policies to the economy and to financial regulation. Award . Gain a Postgraduate Award upon successful completion.
Key topics covered .
Balance sheet issues . Liabilities. Banknotes. Commercial bank reserves. Central bank profits, losses and capital.
Role of central banks . Should banking supervision be part of a central bank?
Hot topics . Central banking independence, conduct regulation.
Different policy regimes . Different targets: exchange rate regimes, inflation target regimes, monetary control regimes corresponding to different nominal anchors. . Different instruments: interest rates, monetary
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Key information .
■ What is the role of central banks
Assets.
Payment systems, developments in digital currencies, financial market, infrastructure issues.
The module will start in September 2027.
Outright asset holdings: financial risk, political economy considerations.. Lending/Draining: scale, term, price, frequency, etc.. Collateral considerations: haircuts, financial stability implications. . Foreign exchange and reserves management: Who? Why? How?
in climate change? ■ Secondary objective. .
control, exchange rate intervention. .
This module features a two-week induction period.
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Watch the film
wbs.ac.uk/go/
CentralBanking
Policy co-ordination: monetary policy vs macroprudential vs microprudential.
Challenges from the Covid-19 pandemic, disintermediation of the banking system, fintech developments.
Financial stability and lender of last resort operations. .
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Please note that this is not an exhaustive list and we recommend you contact us for a more detailed discussion.
wbs.ac.uk/go/banking
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Global Central Banking & Financial Regulation qualification
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