International Missions:

November 2018: Harare, Zimbabwe
Dr. Cole participated in a joint IMF-World Bank mission to assist the Reserve Bank of Zimbabwe in developing a financial sector reform strategy. Dr. Cole was responsible for developing a set of stress tests for assessing the impact of various currency options on the Zimbabwe banking sector.

July 2018: Mumbai, India
Dr. Cole led a World Bank mission to complete the development of a set of credit and market-risk stress tests for the Reserve Bank of India

May 2018: Mumbai, India
Dr. Cole led a World Bank mission to design and develop a set of credit and market-risk stress tests for the Reserve Bank of India

March 2018: Mumbai, India:
Dr. Cole led a World Bank mission to propose the design of a set of credit and market-risk stress tests for the Reserve Bank of India

December 2017: Doha, Qatar
Dr. Cole led a World Bank team in the design and development of a set of market-risk stress tests for the Qatari Central Bank.

July 2017: Freetown, Sierra Leone
Dr. Cole led an IMF TA mission to assist the Central Bank of Sierra Leone in the design and development of single-factor sensitivity stress tests for its banking system.

September 2016: Port of Spain, Trinidad
Dr. Cole co-led a CARTAC TA mission to assist the Central Bank of Trinidad & Tobago in the design and development of dynamic stress tests for its banking system..

July 2016: Basseterre, St. Kitts
Dr. Cole co-led a CARTAC TA mission to assist the Central Bank of Trinidad & Tobago in the design and development of dynamic stress tests for its banking system.

April 2016: Basseterre, St. Kitts
Dr. Cole co-led a CARTAC mission to assist ECCB staff in the design and development of the ECCB’s first publicly available financial stability report.

March 2016: Khartoum, Sudan
Dr. Cole co-led a METAC TA mission to assist CBOS staff in the design and development of simple sensitivity stress tests for commercial banks operating under Islamic Law.

December 2015: Basseterre, St. Kitts
Dr. Cole co-led a CARTAC training workshop for ECCB staff on the design and development of dynamic stress tests.

August 2015: Basseterre, St. Kitts
Dr. Cole co-led a CARTAC TA mission to assist the ECCB with design and development of dynamic stress tests.

August 2015: St. George, Grenada
Dr. Cole co-led a CARTAC TA mission to assist the ECCB with design and development of dynamic stress tests.

August 2015: Castries, St. Lucia
Dr. Cole co-led a CARTAC TA mission to assist the ECCB with design and development of dynamic stress tests.

August 2015: Brades, Montserrat
Dr. Cole co-led a CARTAC TA mission to assist the ECCB with design and development of dynamic stress tests.

August 2015: St. Johns, Antigua
Dr. Cole co-led a CARTAC TA mission to assist the ECCB with design and development of dynamic stress tests.

July 2015: Basseterre, St. Kitts
Dr. Cole helped lead a CARTAC TA mission to assist the Eastern Caribbean Central Bank in stress testing commercial banks operating under its jurisdiction.

June 2015: Accra, Ghana
Dr. Cole helped lead an AfriTAC 2 workshop on implementation of Basel II for the staff of the Central Bank of Ghana.

April 2015: Ramallah, Palestine
Dr. Cole led an IMF TA mission to provide training to the staff of the Palestine Monetary Authority on multi-factor and forward-looking stress tests for commercial banks operating in Palestine.

March 2015: Belize City, Belize
Dr. Cole led an IMF TA mission to provide training to the staff of the Central Bank of Belize on forward-looking stress tests for commercial banks operating in Belize.

February 2015: Khartoum, Sudan
Dr. Cole led a METAC TA mission to provide training to the staff of the Central Bank of Sudan on stress tests for commercial banks operating under Islamic Law.

December 2014: Khartoum, Sudan
Dr. Cole led a METAC TA mission to assess the capacity of the Central Bank of Sudan for conducting stress testing of financial institutions in Sudan, and to provide training on the basics of simple sensitivity stress tests for commercial banks operating under Islamic Law.

December 2014: Amman, Jordan
Dr. Cole led a METAC TA mission to assist the staff of the Central Bank of Jordan in developing a predictive early warning system for the financial sector, including exposures to sectoral risks, such as excessive lending to the real estate sector.

October 2014: Beirut, Lebanon
Dr. Cole led a METAC TA mission to assist staff of the Central Bank of Yemen in drafting a regulation to govern stress testing of financial institutions in Yemen. TA was delivered at METAC HQ in Beirut.

August 2014: Amman, Jordan
Dr. Cole led a METAC TA mission to assist the staff of the Central Bank of Jordan in developing a predictive early warning system for the financial sector, including exposures to sectoral risks, such as excessive lending to the real estate sector.

July 2014: Thimphu, Bhutan
Dr. Cole led an Asian Development Bank TA mission to assist the staff of the Ministry of Finance develop a system for macroprudential surveillance, including tools for monitoring the banking sector’s excessive exposure to housing construction.

March 2014: Malé, Maldives
Dr. Cole helped lead an International Monetary Fund TA mission to assist the Maldives Monetary Authority (MMA) in developing stress tests for the Maldivian financial system, including tests for exposure to the real-estate sector.

July 2013: Malé, Maldives
Dr. Cole presented at an Asian Development Bank workshop on financial stability held for training staff members from numerous Madivian government agencies.

May 2013: Kingston, Jamaica
Dr. Cole presented at a CARTAC workshop on Basel II reporting held at the Central Bank of Jamaica for staff from various CARTAC-country central banks.

March 2013: Nassau, Bahamas
Dr. Cole led a CARTAC follow-up mission to assist the staff of the Central Bank of the Bahamas in developing the CBB’s first Financial Stability Report. The mission was to assess progress since the January 2013 mission and assist in developing the materials needed for the FSR.

March 2013: Port of Spain, Trinidad & Tobago
Dr. Cole led a CARTAC mission to assist staff of the Central Bank of Trinidad & Tobago in updating the stress tests developed after Dr. Cole’s 2010 technical assistance missions.

January 2013: Nassau, Bahamas
Dr. Cole participated in a CARTAC mission to assist the staff of the Central Bank of the Bahamas in designing and developing the CBB’s first Financial Stability Report.

December 2012: Accra, Ghana
Dr. Cole participated in an IMF mission to provide training on how to conduct stress-testing and offsite supervision of the Ghana banking sector for staff of the Central Bank of Ghana

November 2012: Ramallah, Palestine
Dr. Cole participated in and IMF mission to assess the training needs of the Palestine Monetary Authority

October 2012: Ankara, Turkey
Dr. Cole participated in an IMF mission to provide training on how to design early warning systems, conduct stress tests and other aspects of offsite supervision of the Turkish banking sector for staff of the Central Bank of Turkey

March 2012: Tashkent, Uzbekistan
Dr. Cole participated in an IMF mission to assess the training needs of the Central Bank of Uzbekistan

December 2011: Amman, Jordan
Dr. Cole led a METAC mission to provide training on how to conduct offsite supervision of the Belize banking sector for staff of the Central Bank of Belize

October 2011: Cape Verde
Dr. Cole participated in an IMF mission to provide training on how to assist the Central Bank of Cabo Verde in strengthening its framework for financial stability analysis.

January 2011: Belize City, Belize
Dr. Cole led a CARTAC mission to provide training on how to conduct offsite supervision of the Belize banking sector for staff of the Central Bank of Belize

December 2010: Damascus, Syria
Dr. Cole led a METAC mission to provide training on how to conduct off-site supervision of the Syrian banking sector for staff of the Central Bank of Syria.

November 2010: Beirut, Lebanon
Dr. Cole led a METAC mission to provide training on how to conduct off-site supervision of the Lebanese banking sector for staff of Banque du Libon, the Central Bank of Lebanon.

September 2010: Port of Spain, Trinidad & Tobago
Dr. Cole led a CARTAC mission to provide training on how to perform stress tests on the TT banking sector for staff of the Central Bank of Trinidad & Tobago.

July 2010: Kyiv, Ukraine
Dr. Cole participated in a USAid mission to provide assistance on financial sector reforms in Ukraine.

March 2010: Port of Spain, Trinidad & Tobago
Dr. Cole led a CARTAC mission to provide training on how to perform stress tests on the TT banking sector for staff of the Central Bank of Trinidad & Tobago.

November 2009: Beirut, Lebanon
Dr. Cole led a METAC mission to provide training on how to perform stress tests on the Lebanese banking sector for staff of the Banking Control Commission.

November 2009: Damascus, Syria
Dr. Cole led a METAC mission to provide training on how to perform stress tests on the Syrian banking sector for staff of the Central Bank of Syria.

October 2009: Georgetown, Guyana
Dr. Cole led a CARTAC mission to provide training on how to perform stress tests on the Guyanan banking sector for staff of the Central Bank of Guyana.

August 2009: Ulaanbaatar, Mongolia
Dr. Cole led an emergency IMF technical assistance mission requested by the governor of Mongol Bank (Central Bank of Mongolia) to estimate the costs of restructuring the Mongolian Banking system, develop stress tests for the banking system and improve banking supervision.

July 2009: Nassau, Bahamas
Dr. Cole led a CARTAC follow-up mission to finalize work on stress tests for the Bahamian banking sector and provide training to staff of the Central Bank of the Bahamas.

July 2009: Kingston, Jamaica
Dr. Cole led a CARTAC follow-up mission to provide training to the staff of the Financial Services Commission regarding how to conduct stress-testing of the Jamaican securities dealers.

May 2009: Nassau, Bahamas
Dr. Cole led a CARTAC mission to provide technical assistance to the Central Bank of the Bahamas in how to develop stress tests for the banking sector. Specific stress tests were developed for credit risk, interest-rate risk, liquidity risk and foreign-exchange risk.

February 2009: Kingston, Jamaica
Dr. Cole led a CARTAC mission to provide technical assistance to the Financial Services Commission of Jamaica in development stress-tests for securities dealers. Specific stress tests were developed for interest-rate risk, liquidity risk and foreign-exchange risk.

December 2008: Casablanca, Morocco
Dr. Cole led a FSVC mission to provide training and technical assistance to Bank Al Maghrib (central bank of Morocco). Mission focus was on the development and implementation of financial stability indicators and stress-testing methodologies.

January 2008: Ramallah, Palestine
Dr. Cole led an METAC follow-up mission to provide training for the Palestine Monetary Authority. Mission focus was on the revision of the Call Reports, which are the financial statements filed monthly by each bank regulated by the PMA, to incorporate measures of market risk.

July 2007: Ramallah, Palestine
Dr. Cole led an METAC follow-up mission to provide training and technical assistance to the Palestine Monetary Authority (central bank of Palestine). Mission focus was on the revision of the Call Reports, which are the financial statements filed monthly by each bank regulated by the PMA.

June-July 2006: Ramallah, Palestine; Sana’a, Yemen; and Beirut, Lebanon
Dr. Cole participated in three METAC follow-up missions to provide training and technical assistance to the Central Banks of Palestine, Yemen and Lebanon. In Palestine, the mission focus was on development of stress-test methodologies for assessing the banking industry’s exposure to the declining public equities market. In Yemen, the mission focus was on follow-up training in financial statement analysis and production of prudential supervisory reports. In Lebanon, the mission focus was continued follow-up on the development of an early warning system for the financial sector based upon prudential data.

February-March 2006: Ramallah, Palestine; Sana’a, Yemen; and Beirut, Lebanon
Dr. Cole participated in three METAC missions to provide training and technical assistance to the Central Banks of Palestine, Yemen and Lebanon. In Palestine and Yemen, the mission focus was on basic training in financial statement analysis and production of prudential supervisory reports. In Lebanon, the mission focus was continued follow-up on the development of an early warning system for the financial sector based upon prudential data.

August 2005: Beirut, Lebanon
Dr. Cole led a follow-up IMF mission to provide continuing technical assistance to Banque du Libon, the Central Bank of Lebanon, in the development of an early warning system for the financial sector of the economy based upon prudential data.

July 2005: Nairobi, Kenya
Dr. Cole participated in a First Initiative project to conduct a process review for the functions of the Central Bank of Kenya. Dr. Cole was responsible for reviewing and preparing recommendations for improving the functioning of the Department of Policy Analysis and Research and the Department of Bank Supervision

January 2005: Beirut, Lebanon
Dr. Cole participated in an IMF mission to provide continuing technical assistance to Banque du Libon, the Central Bank of Lebanon, in the development of an early warning system for the financial sector of the economy based upon prudential data.

March 2004: Beirut, Lebanon
Dr. Cole participated in an IMF mission to provide technical assistance to Banque du Libon, the Central Bank of Lebanon, in the development of an early warning system for the financial sector of the economy based upon prudential data and in the reform of its payments and settlements systems.

July 2003: Moscow, Russia
Dr. Cole led a follow-up IMF mission to provide technical assistance to the Central Bank of Russia regarding improvements to its off-site banking supervision systems. The primary focus of the mission was to assess the CBR’s progress in developing a statistical early warning system and to provide training as needed.

April 2002: Moscow, Russia
Dr. Cole led an IMF mission to provide technical assistance to the Central Bank of Russia regarding improvements to its off-site banking supervision systems. The primary focus of the mission was to assess the CBR’s progress in developing a statistical early warning system and to provide training as needed.

September 2001: Moscow, Russia
Dr. Cole led an IMF mission to provide technical assistance to the Central Bank of Russia regarding improvements in its off-site banking supervision systems. The primary focus of the mission was to help CBR staff begin development of a statistical early warning system.

April 2001 – May 2001: Shanghai, People’s Republic of China
Dr. Cole served as a resident advisor providing continued technical assistance to the People’s Bank of China, China’s Central Bank, under an Asian Development Bank project to improve off-site banking supervision capabilities.

January 2001 - February 2001: Moscow, Russia
Dr. Cole led an IMF mission to provide technical assistance to the Central Bank of Russia regarding improvements to the corporate governance of Russian commercial banks, implementation of international accounting standards by Russian commercial banks, and improvements to the Central Bank’s off-site banking supervision systems.

November 2000 – January 2001: Shanghai, People’s Republic of China
Dr. Cole served as a resident advisor providing technical assistance to the People’s Bank of China, China’s Central Bank, under an Asian Development Bank project to improve the Bank’s off-site banking supervision capabilities. The primary focus of the project was to help Bank staff develop a prototype of a statistical-based early warning system for the Shanghai region that could be expanded throughout the country.

September 2000: Manila, Philippines
Dr. Cole led a World Bank mission to provide training to bank examiners regarding the use of newly developed off-site supervision systems.

February 2000 – July 2000: Manila, Philippines
Dr. Cole served as World Bank resident advisor to Bangko Sentral ng Pilipinas, the Central Bank of the Philippines. During this period, he designed and developed off-site supervision systems now in use by Bangko Sentral ng Pilipinas, including a statistical-based early warning system for bank failures, an econometric system to forecast nonperforming loans at the industry level, and a computerized system to produce a monthly bank performance report for each of the more than 2,000 commercial, thrift, and rural banks supervised by the BSP. He also trained BSP staff to maintain and update each system.

January 2000: Moscow, Russia
Dr. Cole participated in an IMF mission to assess existing and prototype off-site supervision systems in use or development by the Central Bank of Russia.

October 1999: Manila, Philippines
Dr. Cole led a World Bank mission to provide continuing technical assistance on the bank-ratings systems used by Bangko Sentral ng Pilipinas, the Central Bank of the Philippines. Mission focus was on providing training in risk-based supervision and the CAMELS ratings system.

August 1999: Manila, Philippines
Dr. Cole led a World Bank mission to provide continuing technical assistance regarding the bank-ratings systems used by Bangko Sentral ng Pilipinas, the Central Bank of the Philippines. Mission focus was on assessing progress in moving to a risk-based ratings system.

April 1999: Manila, Philippines
Dr. Cole led a World Bank mission to provide technical assistance regarding the bank-ratings systems used by Bangko Sentral ng Pilipinas (BSP), the Central Bank of the Philippines. Mission focus was on initial assessment of the compliance-based systems in current use.

June 1998: Kuala Lumpur, Malaysia
Dr. Cole led a World Bank mission to provide technical assistance to Bank Negara, the Central Bank of Malaysia, regarding the design off-site surveillance systems for the banking sector.