Events 2018

The representative from the National Bank of Ukraine (NBU) participated in the visit on macroeconomics and international economics issues which took place on 6-7 December 2018 at the NBP Head Office in Warsaw.

During the visit our guest delivered the presentation entitled Sovereign Debt Maturity Structure, Fiscal Policy and Default. Afterwards there was the discussion on abovementioned topic, with participation of NBP’s experts from the Economic Research Department. Furthermore, there were series of bilateral meetings dedicated to the possibility of future cooperation in the field of the economic research.

Narodowy Bank Polski thanks our guest for the active participation and all the NBP experts for their contribution.

The workshop Basic analysis of time series organized by the Statistics Department in cooperation with the International Department took place in the Narodowy Bank Polski Head Office on 5-7 December 2018.

Representatives from central banks (Armenia, Kazakhstan, Moldova, Ukraine) – partners of the NBP technical cooperation programme, took part in this initiative.

Three days of practical sessions, conducted by Ms Natalia Nehrebecka – an economic expert from Department of Statistics, were devoted to identifying patterns in time series data, working with time series data and univariate time series: modelling and forecasting. The following topics, illustrated with case studies based on statistical data analyzed in NBP, were practiced on the software provided for this event.

Narodowy Bank Polski thanks our guests for active participation and Ms Nehrebecka for her contribution.

Two representatives from the National Bank of Ukraine participated in a visit devoted to emergency liquidity assistance (ELA) issues and organized by the Financial Stability, Financial Risk Management and Domestics Operations Departments. The visit took place in the NBP Head Office on 20-21 November 2018.

The participants had an opportunity to enhance their knowledge of ELA in Poland, risk management in monetary policy operations and the NBP’s contingency plan.

The guests had also an opportunity to visit all exhibitions of the NBP Money Centre.

Narodowy Bank Polski thanks our guests for active participation and all experts for their contribution.

Representatives from the National Bank of the Kyrgyz Republic (NBKR) participated in the study visit which took place on 13-15 November 2018 at the NBP Head Office in Warsaw and NBP Regional Branch in Kraków.

The experts from the NBP Operational Risk and Compliance Department and Internal Audit Department presented various aspects related to NBP’s experience such as:

• issues related to the risk identification, risk analysis;
• selected issues concerning operational risk management at NBP;
• identification, monitoring and assessment of non-compliance risk;
• development of policies and principles used for management of the compliance function at NBP;
• performance and functioning of the MONIT SYSTEM.

During the visit in Kraków the NBKR experts got acquainted with the functioning of regional branches and their relations with the NBP Head Office, in particular issues related to NBP cash issuing function and cooperation with external entities in the field of economic information exchange and internal control system at NBP

NBKR representatives had also an opportunity to visit Kraków’s Old Town along with the Wawel Castle

Narodowy Bank Polski thanks our guests for active participation and all NBP experts for their contribution.

Five representatives from the National Bank of Ukraine (NBU) participated in a visit dedicated to PR in central banking organized by the Public Relations and Marketing and Financial Stability Departments took place in the NBP Head Office on 7-8 November 2018.

The event drew upon such issues as promotional activities at NBP, communication of financial stability issues, Press Office in practice and social media in central banking.

Furthermore, during the visit our guests had also an opportunity to participate in the Monetary Policy Council Press Conference and visit the NBP Money Centre.

Narodowy Bank Polski thanks our guests for the active participation and all the NBP experts for their contribution.

Representatives of the State Bank of Vietnam and the National Payment Corporation of Vietnam participated in the study visit which took place on 7 November 2018 at the NBP Head Office in Warsaw.

The experts from the NBP Payment Systems Department presented the topics related to retail payment systems in Poland, payment instruments and oversight policy framework in Poland.

During its stay in Warsaw the Vietnamese delegation had also a possibility to become familiar with the work of the National Clearing House and the Polish Banking Association.

Narodowy Bank Polski thanks our guests for the active participation and all the NBP’s experts for their contribution.

The study visit devoted to remittances statistics organized for representatives of the National Bank of Ukraine, took place in the NBP Head Office on 5-6 November 2018.

The participants had an opportunity to enhance their knowledge in the available data sources on immigration in Poland, NBP surveys as supplementary data sources on immigrants and methodological improvements in surveys among immigrants – RDS method. Moreover, guests from the NBU delivered the presentations dedicated to the available data sources on emigration from Ukraine and compilation of remittance statistics in Ukraine. Afterwards, there was a discussion on exchanging of views of possible future developments in migration flows and their impact on Polish and Ukrainian economies.

Narodowy Bank Polski thanks our guests for their active participation and all NBP experts for their valuable contribution.

The representatives from the National Bank of Ukraine (NBU) participated in a visit devoted to PR in central banking and the role and structure of the Office of the NBP President, which took place in the NBP Head Office on 25 October 2018.

The NBU Press Office representative had the bilateral meeting dedicated to such issues as: promotional activities at NBP, press office in practice and social media in central banking. Meanwhile the other NBU representative had an appointment in the Office of the NBP President.

Narodowy Bank Polski thanks our guests for the active participation and all the NBP experts for their contribution.

The workshop Technical and organisational aspects of information security management at NBP organized by the Security Department in cooperation with the International Department took place on 23-24 October 2018 at the NBP Head Office in Warsaw.

Representatives from central banks (Albania, Azerbaijan, Belarus, Bosnia and Herzegovina, Jordan, Kosovo, Kyrgyz Republic, Macedonia, Moldova, Montenegro, Serbia, Tunisia, Ukraine and Uzbekistan) – partners of the NBP technical cooperation programme, took part in this initiative.

The event drew upon such issues as phishing and other cyber threats, information protection systems, methodology of conducting penetration tests, survival strategies in case of cyber-attack and the usage of trust services at NBP.

Furthermore, thanks to invited speakers from the Polish Bank Association and the Polish Police Headquarters, the workshop participants had an opportunity to familiarize themselves with issues related to cyber security and tasks conducted by abovementioned institutions.

Narodowy Bank Polski thanks our guests for active participation and all NBP and external experts for their contribution.

The study visit devoted to remittances statistics organized within the framework of the TAIEX programme for three representatives of the Palestinian Central Bureau of Statistics, took place in the NBP Head Office on 22-23 October 2018.

The participants had an opportunity to enhance their knowledge in the area of international standards and concepts of remittances statistics according to the balance of payments and international investment position manual (BPM6), Polish emigration (data sources and methodology), the linkage between remittances statistics and equivalent items in balance of payment. Moreover, guests from Palestine shared their experience in methodology and compilation of remittances statistics in their country.

Narodowy Bank Polski thanks our guests for their active participation and all NBP experts for their valuable contribution.

Representatives of the National Bank of the Republic of Belarus and the National Bank of the Republic of Macedonia participated in the study visit devoted to IT management in a central bank, which was organized by the Information Technology & Telecommunications Department and took place in the NBP Head Office on 9-10 October 2018.

The participants had an opportunity to enhance their knowledge of the IT System Development Methodology, platform for Business data Analysis, Business Intelligence: Reporting Platform PAR and IT Risk Management Process in NBP.

The guests had also an opportunity to visit all exhibitions of the NBP Money Centre.

Narodowy Bank Polski thanks our guests for active participation and all experts for their contribution.

The fifth edition of the seminar Internal audit at Narodowy Bank Polski took place on 4-5 October 2018 at NBP Head Office in Warsaw. This year’s edition was organized for the first time by Narodowy Bank Polski in cooperation with Lietuvos bankas. The seminar was addressed to central bank’s auditors.

Representatives from 17 central banks – Albania, Armenia, Azerbaijan, Belarus, China, Georgia, Kosovo, Lithuania, Macedonia, Mongolia, Moldova, Serbia, Tunisia, Turkey, Ukraine, Uzbekistan, Vietnam – took part in this event.

During the seminar all participants got acquainted with the topics relevant to main tasks of the NBP Internal Audit Department such as:

• issues related to audits in the area of statistics;
• approach to performing auditing tasks in the area of cash issuance;
• issues related to audits covering analytical and research activity;
• issues related to audits of IT systems security and management.

Narodowy Bank Polski thanks our guests for active participation and all NBP and external experts for their contribution.

Representative from the National Bank of Ukraine (NBU) participated in the study visit which took place on 3 October 2018 at the NBP Head Office in Warsaw.

The event drew upon such issues as: the investment process of the NBP Money Centre, working on the exposition, educational activities, materials for schools and lessons scenarios. NBU representative had also an opportunity to visit all exhibitions of the NBP Money Centre.

Narodowy Bank Polski thanks our guest for active participation and all NBP experts for their contribution.

Representatives from the National Bank of the Republic of Belarus (NBRB) participated in the study visit which took place on 1-3 October 2018 at the NBP Head Office in Warsaw and NBP Regional Branch in Kraków.

The experts from the NBP Internal Audit Department and Operational Risk and Compliance Department presented various aspects related to NBP experience such as:

• issues related to the risk identification, risk analysis and conducting audits in the area of monetary policy implementation at NBP;
• issues related to audits covering the oversight of payment systems;
• internal control system at NBP;
• selected issues concerning operational risk at NBP.

During the visit in Krakow the NBRB experts got acquainted with the functioning of regional branches and their relations with the NBP Head Office, in particular the issues related to NBP cash issuing function and its cooperation with external entities in the field of economic information exchange.

NBRB representatives had also an opportunity to visit Kraków’s Old Town along with the Wawel Castle.

Narodowy Bank Polski thanks our guests for active participation and all NBP experts for their contribution.

The workshop on Advanced econometrics: introduction to Bayesian econometrics organized jointly by the Financial Stability Department and Economic Research Department took place on 18-19 September 2018 at the NBP Head Office in Warsaw.

During the sessions the NBP experts lectured on topics such as:

• Bayes’ formula;
• Elements of Bayesian inference: estimation, prediction and model comparison;
• Pooling inferences from individual models (Bayesian Model Averaging);
• Linear regression model from Bayesian point of view;
• Basic Markov Chain Monte Carlo (MCMC) methods;
• Bayesian Vector AutoRegression (VAR);
• Bayesian Structural VAR;
• Sign and zero restrictions in Bayesian Structural VAR.

Narodowy Bank Polski would like to thank all guests for active participation and all experts for their valuable contribution.

The study visit devoted to public procurement and purchasing issues organized by the Public Procurement and Purchasing Department in cooperation with the Controlling Department and The Polish Public Procurement Office, took place in the NBP Head Office on 18-19 September 2018.

The participants had an opportunity to enhance their knowledge of organization of awarding public contracts in NBP, market monitoring and good practices in public procurement procedure in Poland.

NBU representatives had also an opportunity to visit all exhibitions of the NBP Money Centre.

Narodowy Bank Polski thanks our guests for active participation and all experts for their contribution.

Representatives from the National Bank of the Republic of Belarus (NBRB) and the Belarusian Economic Research and Outreach Center (BEROC) participated in the study visit which took place on 22-24 August 2018 at the NBP Head Office in Warsaw.

The event drew upon such issues as: DSGE modelling and monetary transmission mechanism (MTM). Participants had an opportunity to familiarize herself with asymmetry over the business cycle and investigating monetary transmission. The NBRB representative gave also the presentation about existing works on monetary transmission at the NBRB and factors affecting MTM in the Republic of Belarus.

NBRB i BEROC representatives had also an opportunity to visit all exhibitions of the NBP Money Centre.

Narodowy Bank Polski thanks our guests for active participation and all NBP experts for their contribution.

Five representatives from the National Bank of the Republic of Belarus participated in the study visit at NBP organized under Component 1 (Payment Systems) of the Twinning Project Strengthening the National Bank of Belarus. The visit took place on 20-24 August 2018 at the NBP Head Office in Warsaw and NBP Regional Branch in Kraków.

The visit focused on payment system infrastructure and the institutional framework of the payment system in Poland. The event drew upon such issues as Large Value Payment Systems, Instant Payment Systems, NBP’s approach to Financial Market Infrastructure Oversight, assessment of the Polish payment system functioning, research projects in the area of payment system and regulations on payment system in the European Union.

The participants had also an opportunity to visit the National Clearing House and the Polish Financial Supervision Authority and familiarize themselves with tasks and structure of those institutions as well as the overview of the regulation and supervision of payment services in Poland.

Narodowy Bank Polski thanks our guests for active participation and all NBP experts for their contribution.

Representatives from the National Bank of Ukraine (NBU) participated in the working visit which took place on 17-18 July 2018 at the NBP Head Office in Warsaw.

The event drew upon such issues as: the investment process of the NBP Money Centre creation, working on the exposition, educational activity, materials and scenarios of educational classes. NBU representatives had also an opportunity to visit all exhibitions of the NBP Money Centre.

Additionally, on the second day of the visit one NBU representative had an appointment in the NBP Public Relations and Marketing Department.

Narodowy Bank Polski thanks our guests for active participation and all NBP experts for their contribution.

Four representatives from the Bank of Indonesia participated in the study visit which took place on 10 July 2018 at the NBP Head Office in Warsaw.

The experts from the NBP Financial Stability Department and Payment System Department presented the topics related to financial market infrastructure and oversight policy framework in Poland.

Narodowy Bank Polski thanks our guests for the active participation and all the NBP experts for their contribution.

Representatives from the Central Bank of Tunisia and Bank Al-Magrib participated in a study visit to the NBP Department of Economic Analysis and Department of Economic Research. The meetings took place on 9-10 July in the NBP Head Office in Warsaw.

During the visit our guests had the opportunity to familiarize themselves with our experience in short-term inflation forecasting, e.g. forecasting basing on the New Keynesian Phillips curve (NKPC). While using Tunisian data, they worked with the NBP experts to develop the NKPC model as well as a Bayesian VAR for inflation forecasting. Moreover, they also got acquainted with the recent findings and estimation methods of the exchange rate pass-through.

Narodowy Bank Polski would like to thank our guests for active participation in the visit and all NBP experts for their contribution.

The workshop: Contemporaneous methods for real-time inflation forecasting took place on 5-6 July 2018 at NBP Head Office in Warsaw.

Four representatives from central banks took part in the event conducted for the first time by the expert from the Economic Analysis Department.

The event drew upon the issues of Contemporaneous methods for real-time inflation forecasting such as real time database, dynamic factor model and strategies as well as Kalman filter vs. two-step method of Stock&Watson.

Participants had also an opportunity to take part in Matlab workshops concerning simple benchmarks, dynamic factor model in state space, forecast uncertainty in DFM, simple BVAR models, Gibbs sampling and out-of-sample evaluation of density forecasts..

Narodowy Bank Polski would like to thank all guests for active participation and NBP expert for their valuable contribution.

The fifteenth edition of the seminar organized jointly by Narodowy Bank Polski and the Swiss National Bank took place on 25-26 June 2018 at NBP Headquarters in Warsaw.

Representatives from central banks – partners of the NBP technical cooperation programme along with speakers from other banks and institutions (Deutsche Bundesbank, European Central Bank, Banca d’Italia, International Monetary Fund, Banca Nationala a Romaniei, Narodna banka Slovenska) took part in this event.

During the seminar all participants discussed and got acquainted with the topics relevant to designing and conducting stress tests of the banking system.

Narodowy Bank Polski thanks our guests for active participation and all NBP and external experts for their contribution.

Representatives from the National Bank of Ukraine (NBU) participated in the working visit which took place on 12-14 June 2018 at the NBP Head Office in Warsaw.

The participants had an opportunity to enhance their knowledge of the NBP cost planning, controlling, allocation and reporting. Furthermore, the working visit was dedicated to data downloading and processing as well as System Business Intelligence in the Controlling Department.

Additionally, on the third day of the working visit the representatives of NBU had an appointment in the Accounting and Finance Department. Afterwards, our guests visited the NBP Money Centre.

Narodowy Bank Polski thanks our guests for active participation and all NBP experts for their contribution.

Four representatives from the National Bank of the Republic of Macedonia participated in the study visit which took place on 12-13 June 2018 at the NBP Head Office in Warsaw.

The experts from the NBP Operational Risk and Compliance Department presented various aspects related to NBP experience in the management and carrying out tasks related to the compliance function.

Narodowy Bank Polski thanks our guests for the active participation and all the NBP experts for their contribution.

Seminar “The procedure for awarding public contracts”, organized by the International Department in cooperation with the Public Procurement and Purchasing Department, was held in the NBP Head Office on 5-6 June 2018.

13 representatives from central banks participated in this event. The seminar, designed for central banks employees dealing with awarding contracts under the public procurement and the purchasing procedures, included lectures on such topics as: public procurement system in Poland – the implementation of EU Directives, internal regulations and procedures in NBP, organization of awarding contracts under public procurement procedure, national law application and Electronic Procurement System.

Narodowy Bank Polski would like to thank all guests for active participation and NBP experts for their valuable contribution.

Representatives from the Central Bank of the Republic of Turkey and National Bank of Ukraine participated in the study visit which took place on 24 May 2018 at the NBP Head Office in Warsaw.

The event was dedicated to the NBP technical cooperation programme: the present and the past.

Additionally, the representative of National Bank of Ukraine had an appointment in the Office of the NBP President and the meeting with the Polish Financial Supervision Authority expert who presented the PFSA Technical Assistance Initiative.

Narodowy Bank Polski thanks our guest for active participation and all experts for their contribution.

Seminar International cooperation at Narodowy Bank Polski, organized by the International Department, was held in the NBP Training Centre in Starawieś on 22-23 May 2018.

21 representatives from central banks participated in this event. The seminar, designed for central banks’ experts dealing with international cooperation was devoted to such topics as: legal and organizational aspects of the NBP’s relations with external partners, EU-related activities of NBP: cooperation with the ECB and other EU institutions, NBP’s cooperation with international financial institutions: World Bank Group, IMF, Asian Infrastructure Investment Bank, co-ordination of translation services for internal purposes and for the ECB, protocol services for the President of NBP, members of the NBP Management Board and the Monetary Policy Council, NBP technical cooperation and organization of international conferences at NBP.

Narodowy Bank Polski would like to thank all guests for active participation and NBP experts for their valuable contribution.

The workshop Monetary policy operational framework development took place on 15-18 May 2018 at NBP Head Office in Warsaw.

Twelve representatives from central banks took part in the event conducted by the experts from the Domestic Operations Department and Economic Analysis Department.

The event drew upon the issues of the monetary policy strategy of NBP, liquidity position of the banking sector and its development in Poland, Polish interbank market, standing facilities and intra-day credit, minimum reserve system in Poland and quantitative easing: a view from Poland. Participants had also an opportunity to familiarize themselves with decision-making process in monetary policy implementation as well as to discuss choosing proper monetary policy operational framework.

Participants actively participated in discussions, some of them prepared short presentations of country experience in selected topics.

Narodowy Bank Polski would like to thank all guests for active participation and all experts for their valuable contribution.

The workshop The role and activities of regional branches at Narodowy Bank Polski organized for the first time by the Regional Branches Department in cooperation with the NBP Regional Branch in Kraków, NBP Regional Branch in Katowice, NBP Regional Branch in Rzeszów and the International Department, took place in the abovementioned regional branches on 8-10 May 2018. The workshop was addressed to experts responsible for functioning of regional branches in their central banks.

The participants had an opportunity to enhance their knowledge on such issues as, for example: the organizational relations between the head office and regional branches, servicing bank accounts of state budget institutions and state earmarked funds, developing reports used for the balance of payments of the state and for the international investment position, role of regional branches in economic education.

During three-day event, the workshop participants had also a possibility to become familiar with the work of regional branches in practice by paying a visit to the Cash Processing Unit of the Regional Branch in Kraków and visiting the Regional Branches in Katowice and Rzeszów.

Finally, the event was complemented with a cultural programme during which the participants had the opportunity to visit the Wawel Castle, the Guido Coal Mine and the Salt Mine in Wieliczka.

Narodowy Bank Polski thanks our guests for active participation and all NBP experts for their contribution.

The workshop Selected issues in modelling monetary transmission mechanism took place on 23-25 April 2018 at NBP Head Office in Warsaw.

Eight representatives from central banks took part in the event conducted by the experts from the Economic Research Department.

The event drew upon strengthening the empirical skills in modelling monetary transmission in emerging markets (EMs). Participants had an opportunity to familiarize themselves with a complex way of modelling monetary transmission in EMs through structural vector autoregression models (SVARs), exchange rate and interest rate pass-through, credit channel operation with practical sessions with usage of MATLAB and STATA.

Narodowy Bank Polski would like to thank all guests for active participation and all experts for their valuable contribution.

The workshop on Structural business cycle modelling at central banks organized jointly by the International Department and Economic Research Department took place on 9-13 April 2018 at the NBP Head Office in Warsaw.

During the sessions the NBP experts combined their theoretical lectures (on topics such as: basic RBC model, log-linearization, Blanchard-Kohn method, DSGE models for economy policy: the New Keynesian models) with practical sessions with usage of MATLAB and Dynare.

Narodowy Bank Polski would like to thank all guests for active participation and all experts for their valuable contribution.

The seminar Economic education and promotional activity in the central bank and financial supervision organized by the Education and Publishing Department in cooperation with the Public Relations and Marketing Department, the International Department and the Polish Financial Supervision authority, took place in the Narodowy Bank Polski Head Office on 27-28 March 2018. The seminar was addressed to central banks’ employees responsible for public communication policy and educational activity.

The participants had an opportunity to enhance their knowledge of key educational activities co-financed by NBP, Internet communication of NBP, with particular focus on social media, NBP’s information campaigns and promotional films.

In addition, on the second day of the seminar participants visited the NBP Money Centre.

Narodowy Bank Polski thanks our guests for active participation and all speakers for their contribution.

Representative from the Central Bank of the Republic of Turkey participated in the study visit which took place on 26 March 2018 at the NBP Head Office in Warsaw.

The event drew upon such issues as the creation of the NBP Money Centre, materials and scenarios of educational classes and educational activity in the NBP’s Money museum. The participant had also an opportunity to visit all the exhibitions.

Narodowy Bank Polski thanks our guest for active participation and all NBP experts for their contribution.

Four representatives from the Central Bank of Chile participated in the study visit which took place on 20 March 2018 at the NBP Head Office in Warsaw.

The experts from the NBP Foreign Exchange Department presented the topics related to NBP experiences in the implementation of Wall Street Suite System, which provides treasury management trading and settlement software solutions and services workflow, control and productivity for central banking operations.

Narodowy Bank Polski thanks our guests for the active participation and all the NBP experts for their contribution.