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.
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