Toronto Centre Podcasts
Toronto Centre Podcasts provides high quality capacity building programs for financial supervisors and regulators to build more stable and inclusive financial systems. Toronto Centre is an independent not-for-profit organization that promotes financial stability and access to financial services globally, particularly in emerging markets and developing countries. The podcast series features simulating panel sessions and interviews on timely topics such as financial crisis, financial stability, climate change, gender equality, financial inclusion, fintech and much more.
Episodes
Ep. 193: Unlocking Sustainable Growth: How Governance and Innovation Attract Private Capital
In this podcast, Thomas Beloe of the United Nations Development Programme (UNDP) Sustainable Finance Hub explores how funding critical climate resilience, infrastructure, and social equity projects for developing nations is an urgent necessity.He discusses the UNDP's work on sustainable finance and the role of the Sustainable Finance Hub and how this work intersects with policymakers, regulators,
Ep. 192: The Human Firewall: Navigating Cyber Risks, AI, and Policy Lags
In this podcast, Vladimir Radunović and Anastasiya Kazakova of Diplo discuss how cyber threats, AI, and geopolitical tensions are creating new risks for financial institutions and critical infrastructure.They explore the challenges of managing complex technology supply chains, third-party dependencies, and rapidly evolving cyber risks, emphasizing the need for greater operational resilience, conti
Ep. 191: The Landscape of Financial Supervision and Security
Financial stability and national security are becoming increasingly interconnected.In this podcast, Bill Coen, Toronto Centre board member speaks with Tom Keatinge, Founding Director of the Centre for Finance and Security at RUSI, about how geopolitical tensions, state-sponsored financial activity, cyber threats, and emerging technologies are reshaping the supervisory landscape.Their discussion ex
Ep. 190: Financial Consumer Protection Supervision
In this podcast, Frank Lofranco, Deputy Commissioner, Supervision and Enforcement at the Financial Consumer Agency of Canada, examines the growing importance of consumer protection in today's financial system.He discusses the development of risk-based market conduct supervision, the role of compliance in achieving positive consumer outcomes, and the steps financial institutions can take to build r
Ep. 189: Supervisory Intervention: Enforcement
This new TC Note and podcast examines the role of enforcement powers in effective supervisory intervention. They provide practical guidance on when enforcement action may be warranted, how it can advance supervisory objectives, and what is required to support a credible, transparent, and proportionate enforcement framework.Key topics include:The role of enforcement within the supervisory toolkitCo
Ep. 188: Open Finance Oversight and Supervision
As open finance expands, effective oversight and supervision are essential to managing data-sharing risks, maintaining trust, and ensuring financial systems remain safe, competitive, and resilient. Embedding monitoring and supervisory frameworks from the outset can help authorities support innovation while protecting consumers and promoting financial inclusion.In this podcast, the speakers discuss
Ep. 187: Future-proofing Financial Supervision
Part of our Quantum Computing and Financial Supervision podcast series.As quantum computing moves from theory to real-world application, it has the potential to reshape key aspects of financial systems, from risk modelling and analytics to cybersecurity. While large-scale quantum capabilities are still developing, their future ability to compromise existing encryption standards presents a material
Ep. 186: Policyholder Protection Schemes in a Climate-stressed World
This TC Note and accompanyng podcast provides practical guidance to supervisors in emerging economies on the role of policyholder protection schemes (PPSs), as climate-related risks are affecting insurer vulnerability and recent events reveal new intracacies about the interaction between catastrophes and insurer failure.Additionally, the Note:Clarifies what PPSs are and describes the global landsc
Ep. 185: Emerging Risks of Quantum for Financial Supervision
Part of our Quantum Computing and Financial Supervision podcast series.As quantum computing moves from theory to real-world application, it has the potential to reshape key aspects of financial systems, from risk modelling and analytics to cybersecurity. While large-scale quantum capabilities are still developing, their future ability to compromise existing encryption standards presents a material
Ep. 184: La taxonomie canadienne de la finance durable: la prochaine étape d'une supervision financière respectueuse du climat
Alors que le Canada cherche à accroître les investissements durables et à soutenir la transition vers une économie carboneutre, une nouvelle taxonomie de la finance durable vise à fournir un cadre commun pour identifier les activités vertes, de transition et de réduction des émissions. Fondée sur des critères scientifiques, elle vise à améliorer la transparence, réduire l’écoblanchiment et oriente
Ep. 184: Canada’s Sustainable Finance Taxonomy: The Next Step in Climate-aware Financial Supervision
As Canada works to scale sustainable investment and support the transition to a net-zero economy, a new Sustainable Finance Taxonomy aims to provide a common framework for identifying green, transition, and emissions-abatement activities. By creating clear, science-based definitions and safeguards, the taxonomy is intended to improve transparency, reduce greenwashing, and help direct capital towar
Ep. 183: Introduction to Quantum and Financial Services
Part of our Quantum Computing and Financial Supervision podcast series.As quantum computing moves from theory to real-world application, it has the potential to reshape key aspects of financial systems, from risk modelling and analytics to cybersecurity. While large-scale quantum capabilities are still developing, their future ability to compromise existing encryption standards presents a mat
Ep. 182: Retos en la Supervisión de Neobancos y Otros Intemediarios Financieros Digitales
La conversación resalta los principales retos en la supervisión de neobancos y otros intermediarios digitales, enfatizando el principio de “misma actividad, mismo riesgo, misma regulación” bajo un enfoque de neutralidad tecnológica. Se subraya que la digitalización no reduce los riesgos, sino que los desplaza hacia lo operativo y tecnológico, lo que exige mayores estándares en ciberseguridad, cont
Ep. 181: Executive Panel Session: Cyber and Operational Risk in the Quantum Era
Cyber and Operational Risk in the Quantum Era: Financial Stability amid Escalating Geopolitical ConflictThis 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 threa
Ep. 180: Supervisory Initiatives to Promote Sustainability in the Context of Emerging Climate Risks
This podcast was recorded to commemorate Earth Day 2026.In this podcast, Shri Amarjeet Singh discusses India's approach towards sustainability and climate action, including:Commitments announced at COP26, including the reducing emissions with short- and long-term goalsComprehensive frameworks for ESG, green bonds, and sustainability-linked bondsThe SEBI Business Responsibility and Sustainability R
Ep. 179: Effective Supervision
There is growing pressure to ease post-Global Financial Crisis regulatory and supervisory frameworks and to simplify financial supervision.This TC Note makes proposals for supervisory effectiveness and—where consistent with more effective supervision—the simplification of supervisory methodologies and processes. Drawing on lessons from recent bank failures, it identifies three ways to make supervi
Ep. 178: Virtual Executive Panel: Preparing for the Unthinkable: Financial Stability in an Era of Extreme Risk
This discussion focused on preparing for low-probability but high-impact shocks to the financial sector.The panel explored how geopolitical developments, financial fragmentation, and evolving systemic risks may challenge existing supervisory frameworks. It highlighted the resilience of financial systems and the role of regulatory and institutional frameworks in strengthening preparedness for extre
Ep. 177: De la Declaración a la Acción: Regulación e Innovación en Seguros Inclusivos en América Latina
La conversación resalta cómo la Declaración de Ciudad del Cabo orienta a los supervisores para fortalecer los seguros inclusivos mediante marcos regulatorios y supervisores proporcionales, supervisión de conducta, datos confiables e innovación responsable. Se subraya que el regulador debe facilitar productos claros, sostenibles y accesibles sin comprometer la estabilidad financiera, integridad en
Ep. 176: Virtual Executive Panel - Supervisory Independence - Principles, Practice, and Policy Trade-offs
This virtual executive panel examined the role of independence in financial supervision, focusing on its legal, institutional, and operational dimensions.The panelists discussed how independence:Builds public trustStrengthens policy credibilitySupports financial stabilityCould be weakenedPanelists:Elsie Addo Awadzi, Visiting Fellow, Blavatnik School of Government, University of Oxford; former Depu
Ep. 175: Virtual Executive Panel: Innovation at the Frontier - How Emerging Technologies Are Reshaping Central Banking and Supervision
This discussion convened senior global experts to examine how supervisory and regulatory authorities can prepare for rapid technological change. It focused on artificial intelligence and the evolution of supervisory tools, skills, and institutional capabilities.The speakers explored how emerging technologies are reshaping supervisory mandates, the key challenges that may lie ahead, and the global
Ep. 174: Risk-based Supervision: Integrating the Supervisory Review of Supplementary Documents into the Risk Matrix
A financial institution's supplementary documents provide supervisors with valuable insights into risk. Understanding how to use these documents effectively is essential to improving risk-based supervisory practices.This TC Note and accompanying podcast:Briefly describes the purpose and value of four types of supplementary documents - own risk assessments, business models, recovery plans, and clim
Ep. 173: The Nexus of Financial Inclusion, Resilience, and Supervision
In celebration of Canada’s International Development Week, Toronto Centre hosted a virtual executive panel on building financial resilience.The discussion explored insights from the World Bank’s Global Findex 2025 survey, which shows that 79% of adults worldwide now have a bank account, up from just 50% in 2011. The speakers discussed how mobile technology and digital banking is increasing ac
Ep. 172: Risk-based Supervision of Retail Payment Services Providers and Operators
Banks and a handful of international firms historically conducted the majority of payment functions. More recently, enabled by technology and regulation, new entrants specializing in one or a few processes have joined retail payment sectors.This Toronto Centre Note and accompanying podcast aims to guide financial sector supervisors whose responsibilities include the supervision of companies licens
Ep. 171: The Global Findex 2025
On July 16, 2025, The World Bank Group released The Global Findex 2025. It is a comprehensive database on how adults save, borrow, make payments, and manage risk. This edition introduces the Global Findex Digital Connectivity Tracker, which illustrates how mobile phones and internet access are advancing financial inclusion.In this podcast, the speakers explore the highlights of the report, includi
Ep. 170: The Forum on Financial Supervision
The Forum on Financial Supervision was founded as part of the Systemic Risk Centre at the London School of Economics. It promotes the exchange of knowledge amongst senior policy makers, financial supervisors, and academics to address key issues with a focus on financial stability.This podcast explores the origins of the Forum and its first-year priorities: stress testing, the non-banking sector, a
Ep. 169: Fireside Chat - Strengthening Financial Sector Resilience for a Fast-changing World
On Thursday, October 23, Peter Routledge, Superintendent of Financial Institutions, was interviewed by Bill Coen, the Former Secretary General of the Basel Committee on Banking Supervision, a Toronto Centre Board Member, and Chair of our Finance, Audit and Risk Committee, at Toronto’s National Club.This timely conversation provided insights into the importance of international cooperation and the
Ep. 168: Executive Panel Session - Supervising the Next Wave: AI and Digital Assets
This panel took place at the 2025 International Monetary Fund and World Bank Group Annual Meetings. The convergence of artificial intelligence and digital assets, including cryptocurrencies such as Bitcoin and stablecoins, is reshaping financial markets through decentralized finance, programmable money, and AI-driven trading strategies. While these developments promise efficiency and innovati
Ep.167: Insights on FATF Guidance - Financial Inclusion and AML/CFT Measures (Part Two)
This is the second in a two-part podcast series published in partnership with CGAP.In June 2025, the Financial Action Task Force (FATF), issued guidance on Financial Inclusion and Anti-Money Laundering, and Terrorist Financing (AML/CFT) measures. FATF recognizes that applying an overly cautious approach to anti-money laundering, countering the financing of terrorism, AML/CFT safeguards, can h
Ep. 166: Insights on FATF Guidance - Financial Inclusion and AML/CFT Measures (Part One)
This is the first in a two-part podcast series published in partnership with CGAP.In June 2025, the Financial Action Task Force (FATF), issued guidance on Financial Inclusion and Anti-Money Laundering, and Terrorist Financing (AML/CFT) measures. FATF recognizes that applying an overly cautious approach to anti-money laundering, countering the financing of terrorism, AML/CFT safeguards, can have th
Ep. 166: Assessing the Impact of Geopolitical Events on Supervisory Objectives
Geopolitical risks are emerging from multiple sources, with complex, varied, and country-specific effects. Understanding how these geopolitical events will affect supervisory objectives is a challenging task. Supervisory authorities therefore need a clear framework to identify relevant geopolitical events, assess their impact on objectives, and guide an effective response.This Toronto Centre Note
Ep. 165: Virtual Executive Panel - Accelerating Global Development through Innovative Financial Supervision & Regulation
This was an official virtual side-event of the 4th International Conference on Financing for Development.This executive panel explored adapting supervisory and regulatory frameworks to keep pace with rapid technological change, and the role of central banks and supervisors in accelerating the Sustainable Development Agenda. The conversation highlighted the urgent need for coordinated global approa
Ep. 164: Virtual Executive Panel - From Risk to Resilience: Advancing Supervisory Action for Sustainable Banking in Latin America
This was a virtual executive panel delivered in partnership with the World Wildlife Fund. Latin America's financial sector faces mounting challenges from climate change, biodiversity loss, and shifting global expectations around environmental and social (E&S) accountability. Drawing on the findings of WWF’s 2025 Sustainable Banking Assessment — which evaluated 22 leading banks across six
Ep. 163: Principles for Effective Supervisory Intervention
The term "intervention" can cover a range of actions, including requirements that a supervised financial institution strengthens its controls or governance, strengthens its financial resources, introduces changes to aspects of its business, or limits or discontinues some part of its business.This Toronto Centre Note and accompanying podcast assists supervisors in formulating focused supervisory in
Ep. 162: Securities Supervisors and Self-regulatory Organizations
This podcast explores the important role that self-regulatory organizations (SROs) play in securities markets, as well as the advantages, risks, and key considerations in delegating regulatory responsibilities to SROs.The speakers discussed how securities supervisors can effectively oversee SROs to ensure accountability, transparency, and investor protection. They also highlighted practical approa
Ep. 161: Executive Panel Session - Harnessing AI for Resilient Financial Systems: Implications for Supervisors
This panel took place at the 2025 International Monetary Fund and World Bank Group Spring Meetings. The rapid evolution of financial innovation is redefining the landscape of supervision, presenting regulators and supervisors with the challenge of keeping pace with technological advancements while upholding financial stability, consumer protection, and market integrity. This session convenes
Ep. 160: Virtual Panel Session - Navigating Global Uncertainty and Building Financial Resilience
In a time of global uncertainty and heightened risks, the financial sector faces unprecedented challenges that demand the attention of regulators and supervisors. Geopolitical tensions, economic turbulence, tariffs, currency devaluation, and the deconstruction of the global development sector may threaten worldwide financial stability.In this webinar, the speakers discussed how supervisors can pro
Ep. 159: Financial Education and Literacy-Strengthening the Stability and Resilience of Financial Systems
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
Ep. 158: Women's Financial Inclusion - A Catalyst for Sustainable Development
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 contin
Ep. 157: Artificial Intelligence and Prudential Supervision
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 flexi
Ep. 156: The Supervision of Financial Institutions' Climate-related Transition Planning
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 t
Ep. 155: Supervision of Financial Institutions’ Business Models
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, a
Ep. 154: The Rise of AI - Transforming Financial Markets and Supervision
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 transparenc
Ep. 153: Climate-related Financial Risks
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, To
Ep. 152: Operational Resilience and Proportionality
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 system
Ep. 151: Risk Management and Business Model Sustainability
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 s
Ep. 150: Digitalization in Finance
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 relating
Ep. 149: Financial Risks and Macroprudential Supervision
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
Ep. 148: The Role of Supervision in the Financial Inclusion of Forcibly Displaced Persons
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 presen
Ep. 147: Cross-Border Supervision of Capital and Liquidity Adequacy
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-border
Ep. 146: Executive Panel Session: Combatting Financial Crime in a Digital Age
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:Th
Ep. 145: Supervisory Intervention by Retail Conduct Supervisors
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 identification
Ep. 144: Supervision of Stress Testing by Financial Institutions
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
Ep. 143: Supervisory Stress Testing: A Primer
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. Primarily
Ep. 142: The Risk-Based Supervision of Liquidity
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 m
Ep. 141 - A Call to Action: Addressing Natural Catastrophe Protection Gaps
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 including
Ep. 140 - Agricultural and Financial Systems’ Adaptation to Climate Change
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 marketIncrease access to finance for sma
Ep. 139 - The New ISSB Standards: Considerations for Financial Supervisors
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 and
Ep. 138 - Digital Financial Services for Financial Inclusion: Tools for Supervisors
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 dataAn approach to designing supervisory frameworkHow artificial intelligence can improve or impair inclusionSpeakers: Juan Carlos Izaguirre, Senio
Ep. 137 - Supporting Net-Zero Transition Planning
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 tran
Ep. 136 - Blended Finance for Climate Adaptation: Implications for Supervisors
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 succ
Ep. 135 - Risk-Based Supervision: Some Practical Implementation Issues
This TC Note and podcast address issues encountered by introducing risk-based supervision. These range from technical matters to more complex challenges, such as:appropriate calibration of ratings;risk-management controls;managing on- and off-site work;significant enterprise-wide activities;treating ‘unsupervisable’ structures;independent local boards; andupstreaming of profits to parent instituti
Ep. 134 - Supervising Inclusive Financial Sectors
This TC Note and podcast brings together principles and practices related to financial sector oversight that are relevant to financial inclusion, including proportionate regulation, risk-based supervision, and consumer empowerment. They emphasize the need to understand and manage linkages and trade-offs between different policy areas, and cover some cross-cutting issues that supervisors are facing
Ep. 133 - Integrating Climate Change Risk into Institutional Investing: From Rhetoric to Action
The Intact Centre for Climate Adaptation at the University of Waterloo recently released a report on Integrating Physical Climate Change and Extreme Weather Risk into Institutional Investing. The report examines the strategic and financial impact physical climate risks have on businesses.In this podcast, the speakers address some topics financial supervisors and regulators should consider:the impa
Ep. 132 - Executive Panel Session: Digital Finance and Crypto Assets Oversight: Where Do We Stand?
Crypto regulation was a key agenda of the G20 summit. While regulations and a framework have yet to be finalized, consensus emerged that a blanket ban was not feasible. The joint declaration noted that the G20 will continue to “closely monitor the risks of the fast-paced developments in the cryptoasset ecosystem,” and the leaders endorsed the Financial Stability Board’s (FSB’s) “high-level recomme
Ep. 131 - Executive Panel Session: Nature-Related Risks, Macroeconomic Impacts, and Transition Planning
Central banks and supervisors need to consider climate change and biodiversity loss, which are interconnected and mutually reinforcing. Looking ahead, dealing with nature-related risks may also involve transition plans. Transition plans are crucial to credible implementation. The panel discussed:how central banks and supervisors should adjust to better capture climate-related impacts;the effects o
Ep. 130 - Supervising Migrant Insurance and Pensions
Annually, the world’s 280 million migrant workers send USD 1 trillion to 800 million family members. This TC Note and podcast explains why insurance and pensions for these workers is an important area of focus for supervisors. They address how supervisors following a risk-based approach can tackle key risks for migrant workers and service providers, and the role supervisors can play in expanding c
Ep. 129 - Fireside Chat: Building Climate Resiliency Through Financial Reforms
The frequency and devastation of climate-related disasters in Small Island Developing States (SIDS) are growing. The risks of financial instability, food insecurity, and human loss and suffering are increasing and impeding economic growth. While SIDS have contributed the least to global climate change, they are hardest hit by natural disasters. The consequences for their economies and people’s liv
Ep. 128 - Food Security: Implications for Supervisors
This TC Note and accompanying podcast discuss the food security issue, which is relevant to supervisory objectives such as institutional soundness and the maintenance of sound, fair and stable markets, as well as consumer protection and retail market conduct.Speaker: Craig Thorburn, Program Leader, Toronto CentreHost: Demet Çanakçı, Senior Program Director, Toronto CentreRead the transcript here.
Ep. 127 - IOSCO’s ESG Priorities, Ongoing Initiatives, and Potential Impacts
The International Organization of Securities Commissions (IOSCO) called for the development of the International Sustainability Standards Board (ISSB) in 2021, with the idea of developing a common language in which issuers worldwide could report on sustainability matters.Very recently, the ISSB adopted two new standards addressing sustainability and climate disclosure, which were immediately endor
Ep. 126 - Introduction of a Retail Payments Supervision Framework in Canada
Everyday in Canada, millions of people place their trust in payment service providers (PSPs) whenever they tap their card on a payment terminal or make an online purchase. In 2021, the Bank of Canada (the Bank) was tasked with building a mandate to supervise PSPs to ensure safe and efficient retail payments. This podcast discusses the challenges in building this framework, the PSPs and financial m
Ep. 125 - Cyber Risk - Developing and Delivering a Supervisory Strategy
This TC Note and accompanying podcast address the rapid rise of cyber risk, which presents unique challenges to the financial sector. They provide guidance on how to determine an effective strategy to deal with this constantly evolving risk and deliver that strategy with the resources available.Speaker: Lyndon Nelson, Program Leader, Toronto CentreHost: Demet Çanakçı, Senior Program Director, Toro
Ep.124 - The Power of Data, Technology, and Collaboration to Combat Money Laundering Across Institutions and Borders
Money laundering is a global problem that undermines the integrity and safety of the global financial system. In this podcast, Beju Shah introduces the BIS Innovation Hub’s recent initiative, Project Aurora. He discusses leveraging data, technology and collaboration to improve AML efforts through collaborative analysis and learning while upholding data protection, privacy, and information security
Ep. 123 - Introduction for Supervisors to Scenarios and Stress Tests of Climate Change Risks
In this podcast, the speakers examine climate scenarios and practical guidance on the design of climate stress tests. They discuss the uncertain nature of climate risks and the tools available to assess them.Read their biographies here. Read the transcript here. Read the TC Note here.
Ep. 122 - Central Bank Digital Currencies: Implications for Supervisors
In this podcast, the speakers examine the reasons for introducing a retail CBDC, the key choices in its design, and how supervisors can address arising risks and opportunities. Considerations include financial stability, inclusion, AML, and cross-border remittances. Read their biographies here. Read the transcript here. Read the TC Note here.
Ep. 121 - The Role of AML Regulators in Financial Inclusion
Ensuring everyone has access to financial services is paramount to sustainable economic development. In this podcast, the speakers will discuss:· the role of financial regulators and supervisors as facilitators of financial inclusion;· the importance of access for disadvantaged people, and· risk-based approach to anti-money laundering (AML). The speakers will discuss our complimenta
Ep. 120 - Supporting Positive Mental Health in the Workplace
Speaker: Dr. Kennette Thigpen Harris CEO and Founder, Welltrust Partners Host:Shelina VisramProgram Director, Toronto CentreDescription:It probably doesn’t come as a surprise that employee mental health concerns are at an all-time high. Employees’ mental health can have a critical impact on their company’s morale, engagement, and bottom line. In this podcast the speakers address some key points fo
Ep. 119 - Addressing Greenwashing in Financial Services
Financial markets play a key role in enabling the transition towards carbon neutrality. Mandatory global disclosure standards with industry-specific metrics are therefore vital to ensure that financial flows are aligned with green and transition objectives. The panelists discuss:key challenges with respect to taxonomies, green external reviews, climate transition metrics and frameworks, andthe ne
Ep. 118 - Addressing the Climate Change, Biodiversity Loss, and Food Security Crises
Climate change, biodiversity loss, and food security are interlinked and pose a serious threat to financial stability and global prosperity. The panelists discuss:how climate and biodiversity risks are threatening global food security, financial stability and inclusion; andwhat policymakers and supervisors can do to mitigate this most pervasive threat to societies. Panelists:The Honourable John R
Ep. 117 - Fireside Chat: The Future of Central Banking
In celebration of our 25th anniversary, we hosted a fireside chat featuring Toronto Centre board chair and former Governor of the Central Bank of Sweden, Stefan Ingves. Mr. Ingves recently retired as the Governor after serving a 17-year term. He shared his perspectives on how cyber risk, digital currencies, climate change, and payment systems are changing the future of central banking. Opening Rem
Ep. 116 - International Women's Day: Using Data to Close the Gender Gap
The Global Findex 2021 revealed a reduction in the gender gap from 9% to 6% in access to formal financial services in developing economies. This is a positive indication that changes in mindset and practice are shifting the norms.The speakers from Mennonite Economic Development Associates (MEDA), MiCrédito, and Toronto Centre discussed:their respective experiences, insights, and strategies to deep
