​The Bank of Finland is organising an international Simulator Seminar in Helsinki on 25–26 August 2016. The event brings together experts who study risks to the financial system using quantitative simulation methods.

Head of the Financial Stability and Statistics Department Katja Taipalus, who opened the seminar, emphasised in her speech the significance of quantitative methods in analysing the stability of the financial system. “The effectiveness of payment and settlement systems as well as their stability can be assessed and further developed by utilising different types of simulation methods. These can be used to deepen understanding of the functioning of the systems, the risks associated with their functioning, and the role of different systems as key background factors for financial stability. We can state with satisfaction that the Bank of Finland’s BoF-PSS2 simulator has become widely established as an analysis tool around the world,” said Taipalus. 

This year’s Simulator Seminar brings together researchers from five continents. The event enables new research ideas to be presented to an international audience and provides an excellent discussion forum for innovative exchange of ideas. The themes of the seminar focus on, among other things, systems development, stress testing and the assessment of different types of risk.

The simulator developed by the Bank of Finland is freely available for research purposes, and it has already been introduced in numerous countries.

For further information on the Simulator Seminar and the BoF-PSS2 -simulator, please contact: Mr. Tatu Laine, Senior Economist (tatu.laine@bof.fi, tel. +358 10 831 2254).