Understanding the central bank balance sheet
About the course
Tutors
Anjeza Beja
Bank of Albania
Independent international consultant, former director
Mrs. Anjeza Beja is an experienced financial sector expert currently working as an international consultant for central banks. She has undertaken a number of technical assistance or training missions for the International Monetary Fund in around 30 central banks related to IFRS implementation, policy solvency and transparency. She is also engaged as a consultant with the International Finance Corporation on a digital financial services project in the Western Balkans.
Previously, she spent 12 years at the Bank of Albania, including 5 years as Director of Payments, Accounting, and Finance, where she led the implementation of IFRS and IFRS 9 and EU Payment Services Directive 2. Prior to that, she worked in the Supervision Department in several managerial positions. She holds a PhD in Economics from University of Tirana and has a Bachelor in Finance/ Banking and a Bachelor in Law. She has also concluded a Leadership Program in Financial Inclusion from the Fletcher School at Tufts University.
Agenda
Introduction to central bank balance sheets
- Role of the central bank balance sheet as the ultimate means of settlement
- Types of assets and liabilities composing the balance sheet
- How balance sheet structure differs depending on high-level objectives, e.g., inflation targeting, stable inflation, exchange rate targeting, etc.
- Communicating the balance sheet: publication and public perception
Evolution of the balance sheet
- How central bank balance sheets have changed
- Quantity vs price targets
- Liability vs asset-driven
- Crisis response and unconventional monetary policy: effects of QE/QT on the balance sheet
- Potential impact of financial innovations (CBDCs, tokenisation, etc.)
Managing profit retention, distribution and revaluation
- How central bank equity differs from that of commercial entities
- Approaches to profit retention and distribution
- Mitigating revaluation risk: realised vs unrealised gains
- Link between accounting frameworks and financial strength
‘Solvency’ for central banks
- What does central bank solvency look like?
- Technical insolvency vs policy insolvency
- Operating with negative capital levels: effects and examples
- Overview of loss coverage and recapitalisation arrangements
- Relationship between the central bank and the treasury
Registration
November 17, 2026
Online
14:00 GMT
$1,885
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Accreditation
This course is CPD (Continued Professional Development) accredited. One credit is awarded for every hour of learning at the event.
