MEFMI Conducts Training on ELA and Resolvability Assessment at Bank of Uganda

The Bank of Uganda (BOU) is in the process of developing procedures and guidelines to operationalise its Emergency Liquidity Assistance (ELA) Framework. In addition, the Bank is also developing a Resolvability Assessment Framework for Domestic Systemically Important Banks (D-SIBs). Further, the BOU was tasked to spearhead the implementation of the decisions of the East African Community (EAC) Monetary Affairs Committee (MAC) to develop and harmonise ELA and resolvability frameworks for SIBs among the EAC Partner States.

Against this background, the BOU requested MEFMI to conduct a workshop on ELA and Resolvability Assessment from 13 to 17 February 2023, in Kampala, Uganda. The objective of the workshop was to enhance the participants’ knowledge of the key issues to consider when designing and implementing ELA and resolvability assessment frameworks. The workshop consisted of 16 sessions covering a broad range of topics on ELA and resolvability assessments, including both theoretical sessions and practical experiences of other countries.

The training enhanced the participants’ knowledge of the frameworks for ELA, ELA practices and limitations in other jurisdictions as well as resolvability assessments, and resolution funding arrangements. It also provided an opportunity for the delegates to rethink their targets and roadmap for the harmonisation of these frameworks in the EAC region. The participants are expected to use the knowledge acquired from the workshop to improve ELA and resolvability assessment frameworks in their respective jurisdictions and expedite the harmonisation of the frameworks in the EAC.

A total of 31 officials from six countries i.e., Burundi, Kenya, Rwanda, South Sudan, Tanzania, and the hosts Uganda, participated in the training. Female participants accounted for 35 percent of the total participants.

By Noel Mahombera