Toronto Centre Podcasts

Cyber and Operational Risk in the Quantum Era: Financial Stability amid Escalating Geopolitical Conflict This panel took place at the 2026 International Monetary Fund and World Bank Group Spring Meetings. Financial stability is under fire as geopolitics and cyber risk collide. As global tensions intensify and technological capabilities accelerate, financial institutions face a rapidly evolving thr...

This podcast explores why financial literacy matters, its impact on financial stability and inclusion, and what can be done to improve it at all levels, from individuals to policymakers and supervisors.  The speakers discuss how tailored literacy initiatives can help to bridge socio-economic gaps and will lead to people making better financial decisions. They explore how to assess the impact of th...

Toronto Centre and CARE Canada co-hosted a virtual panel session to mark  Canada's International Development Week . Closing the financial inclusion gender gap is essential for sustainable economic growth and stability. It empowers women socially and economically while strengthening financial systems. Safeguarding and accelerating the progress made over the past 15 years is critical to ensuring con...

This podcast highlights the benefits and challenges of using artificial intelligence (AI) in prudential supervision. The speakers discuss how AI can be used as a supervisory tool to improve fraud detection and risk monitoring, as well as supervising industry use. They also explore the importance of human oversight to ensure fairness in decision making, and the need for ongoing cooperation and flex...

There is an increasing focus on the role of financial institutions in contributing to climate-related change as a result of their financing of the activities of customers and counterparties. A key element in financial institutions’ efforts to limit their contributions to climate-related change is the development of transition plans. This Toronto Centre Note and accompanying podcast focuses on two...

Financial institutions fail for many reasons. These failures are often the symptom or consequence of one or more underlying root causes. In some financial institutions, business model weaknesses may be combined with weak corporate governance and poor risk management. This TC Note and accompanying podcast discusses ways in which supervisors can assess the business models of financial institutions,...

This panel took place at the 2024 International Monetary Fund and World Bank Group Annual Meetings. In today's fast-changing financial landscape, artificial intelligence (AI) is at the forefront of transformation, reshaping how markets operate and how they are regulated. As we embrace AI's immense potential, it is crucial to address ethical considerations, data privacy, and the need for transparen...

This was the fifth webinar of the series on the revised Core Principles for effective banking supervision.  The panel discussed the inclusion of climate risk in the updated Core Principles and highlight why both banks and supervisors should adopt flexible practices to address the evolving nature of climate risks. Panelists: Elsie Addo Awadzi, Deputy Governor, Bank of Ghana; Board Member, Toronto C...

This was the fourth webinar of the series on the revised Core Principles for effective banking supervision. The revised Core Principle 25 emphasizes banks’ capacity to handle severe operational risks, including pandemics, cyber threats, and natural disasters. Additionally, the revisions introduce a proportionality approach, aligning regulatory rules and supervisory practices with each bank's syste...

This was the third webinar of the series on the revised Core Principles for effective banking supervision. The Basel Committee wants banks to institute a sound risk culture, to maintain strong risk management practices, and to adopt and implement sustainable business models.  The revised Core Principles make clear that the assessment of business model sustainability is a key component of effective...

This was the second webinar of the series on the revised Core Principles for effective banking supervision. Advances in digitalization and financial technology continue to affect the landscape of the financial system, including the provision of banking services. The Core Principles for effective banking supervision (BCP) have been amended to reflect the impact of new risks, including risks relatin...

This was the first webinar of the series on the revised Core Principles for effective banking supervision. The post-Global Financial Crisis (GFC) period has seen banks continue to build their resilience to financial risks, underpinned by stronger regulatory and supervisory frameworks, including the Basel III standards. The Core Principles for effective banking supervision have been strengthened to...

The worldwide total of forcibly displaced persons (FDPs) reached 110 million in 2022, with the cross-border refugee population standing at 36.4 million in 2023. The continuing cross-border refugee crisis caused by global conflict has created great vulnerabilities for FDPs.   This TC Note and accompanying podcast discuss the expansion of access to finance for FDPs and the unique challenges it pres...

Cross-border supervision is one of the more challenging supervisory priorities. It adds layers of complexity, new stakeholders, and potential challenges to effective supervision.  This TC Note and accompanying podcast discus the implications for home and host financial supervisors of cross-border supervision of the adequacy of capital and liquidity. They also consider the challenges of cross-borde...

Financial crime is a significant threat to the safety and security of citizens and to the integrity of individual countries and the global financial system. While the proliferation of digital technologies presents many opportunities for financial systems, it also has introduced a new age of financial crime. For instance, crypto assets are a currency of choice among criminals. The panel discussed:...

The nature of retail conduct supervision, which can often be more prescriptive and rules based, can result in different approaches to intervention. This TC Note and accompanying podcast discusses how supervisors should take a more proactive risk-based approach to dealing with potential areas of misconduct and apply the key principles of risk-based supervision to facilitate an earlier identificatio...

Stress testing should be a critical element of risk management for most financial institutions. It should alert boards and senior management to potential adverse outcomes related to a broad range of risks and vulnerabilities, identify potential losses, liquidity needs, and operational responses should adverse shocks occur. Supervisors should, in turn, have a strong interest in stress testing by fi...

Supervisory stress testing is a technique used to assess the robustness of financial institutions and the broader financial system to severe but plausible shocks. Since the Global Financial Crisis of 2008, it has emerged as an important tool for supervisors that complements other approaches and methods. Stress testing is one of the more complex tasks undertaken by supervisory authorities. Primaril...

Liquidity is fundamental to the operation of financial institutions. Problems can quickly arise and escalate, threatening the stability of the financial system. This TC Note and accompanying podcast focuses on good practices in liquidity management by financial institutions in the banking, insurance, pensions, and securities sectors. It provides guidance on how supervisors should assess liquidity...

The world's most economically vulnerable populations are frequently impacted by natural catastrophes (NatCats). The International Association of Insurance Supervisors' (IAIS) recent report,  A call to action: the role of insurance supervisors in addressing natural catastrophe protection gaps , outlines actions insurance supervisors can take. The speakers discuss key takeaways from the report inclu...

Experts from the development and financial supervision sectors discussed some of the challenges and solutions for farmers from emerging markets and developing economies in accessing finance to adapt to climate change. Key takeaways from this insightful conversation include the need to: Build a common vision and establish a dialogue between supervisors and the market Increase access to finance for...

The International Sustainability Standards Board (ISSB) has developed new standards for sustainability reporting and climate-related disclosure. This new TC Note and accompanying podcast discuss the benefits, challenges, and actions needed for the standards to reach the goals they were set out to meet. They outline how the standards can help achieve the following key supervisory goals: Investor an...

In 2023, the Consultative Group to Assist the Poor (CGAP) released a technical guide on Digital Financial Services for Financial Inclusion: Tools for Supervisors . This podcast highlights key takeaways from the guide, including: How to improve supervisory data An approach to designing supervisory framework How artificial intelligence can improve or impair inclusion Speakers:  Juan Carlos Izaguirre...

To achieve net-zero, every economic sector will need to decarbonize, and financial institutions need to fund activities supporting this transition. Financial institutions and their customers will need to develop credible transition plans.  The panel discussed: the common elements for transition plans; the need for financial regulators to set supervisory expectations for transition plans; and, how...

Emerging Markets and Developing Economies (EMDEs) are facing numerous hurdles in mobilizing the necessary transition financing for decarbonization, including fiscal constraints, restricted access to private capital, and a shortage of expertise in project development and financing. Ramping up blended finance efforts is critical for this transition. The panel discussed: some practical examples of su...