MNB TCP 2025 – Stability in Transitions

The 2025 Technical Cooperation Programme of the Magyar Nemzeti Bank kicked off with a seminar on Green and Sustainable Finances

Magyar Nemzeti Bank (MNB), the Central Bank of Hungary is offering its technical assistance program for the third consecutive year to partner central bank and supervisory experts. The aim of the program is to foster international cooperation, support the exchange of knowledge and experience, and provide a platform for sharing best practices. In response to the challenges of the dynamically changing global economic environment, this year’s program is titled “Stability in Transitions”, highlighting the crucial balance central banks must strike between resilience and change.

The 2025 Technical Cooperation Programme was launched with the seminar “Green and Sustainable Finances – Introducing the MNB’s Green Program”, held in Budapest between April 14–17. The event was opened by Mr. Norbert Izer, Executive Director for Prudential and Consumer Protection Supervision of Financial Institutions, who emphasized that climate change and sustainability present challenges that require active, conscious, and internationally coordinated actions by central banks and supervisory authorities.

The seminar attracted significant interest, with almost 30 representatives from 17 countries participating – including Albania, Bosnia and Herzegovina, Georgia, Indonesia, Kazakhstan, Oman, and Uzbekistan. Over the four-day program, participants received an in-depth overview of MNB’s sustainability strategy, carbon footprint reduction initiatives, climate stress testing, green mortgages, and the management of ESG and biodiversity risks.

The seminar offered not only theoretical insights but also provided opportunities for direct experience-sharing through practical workshops and interactive exercises. In addition to MNB experts, speakers from the private sector also shared valuable insights.

Magyar Nemzeti Bank believes that central bank cooperation and international knowledge sharing are key to effectively addressing global challenges. The active involvement of central banks in the fight against climate change, the promotion of green finance, and the guidance provided to financial market participants are essential for the creation of a stable and sustainable financial system capable of supporting long-term economic and social well-being.

The Technical Cooperation Programme of the Magyar Nemzeti Bank Continued with a Seminar on Payment Systems

The Magyar Nemzeti Bank (MNB) hosted the second seminar of its 2025 Technical Cooperation Programme in Budapest between 22–25 September 2025, focusing on the most pressing issues of financial infrastructures, payment systems and digitalisation. Experts from the central banks of more than twenty countries took part in the event.

The seminar was opened by Dániel Palotai, Deputy Governor of the MNB responsible for international relations. The central bank recently established the office of Deputy Governor for International Relations to facilitate a more effective and visible engagement in the international financial system and for a. In his introductory remarks, Deputy Governor Palotai underlined that exchange of experience and joint learning have become especially important in recent years, as digitalisation and financial innovation present both opportunities and challenges for every central bank.

During the four-day professional programme, participants gained insights into Hungary’s experiences with the instant payment system, the regulatory and supervisory practices of payment services, as well as domestic achievements and lessons learned in fraud prevention and digital financial solutions. The discussions also covered, among others, the opportunities of open banking, the monetary policy implications of central bank digital currencies, and the payment habits of Hungarian households. The presentations were complemented by interactive workshops and roundtable discussions, providing opportunities for direct exchange of participants’ experiences.

The MNB launched its Technical Cooperation Programme in 2023 with the aim of creating a professional platform for its partner central banks to share knowledge and engage in joint thinking. The popularity of the programme has been growing year by year: in 2023, 95 representatives from 21 institutions attended the events, while in 2024 more than one hundred experts from 26 countries joined the seminars.

The MNB’s Technical Cooperation Programme continued with a seminar on Structural Modelling and Forecasting

The Magyar Nemzeti Bank (MNB) hosted the third seminar of its 2025 Technical Cooperation Programme in Budapest between 27–30 October 2025, under the title “Structural Modelling and Forecasting.” The event focused on presenting central bank practices in macroeconomic modelling and forecasting, as well as sharing analytical methods that support monetary policy decision-making. The programme brought together 24 experts from 17 countries.

In his welcome address, Dániel Palotai, Deputy Governor of the MNB responsible for international relations emphasized the importance of sound structural analysis for monetary policy decisions in today’s rapidly changing economic environment.

During the four-day professional course participants gained insight into how structural and macroeconomic models support decision-making, and how the MNB has developed and modernized its forecasting and analytical tools over recent years. The seminar also addressed sustainability aspects: participants were introduced to the MNB’s sustainable GDP concept, which approaches the assessment of economic performance by taking environmental and social factors into account. Furthermore, discussions covered firm-level (microdata-based) analyses, which enable central banks to gain a more accurate picture of the factors shaping economic processes, as well as the growth potential of the SME sector.

The MNB Technical Cooperation Programme, launched in 2023, continues to serve as an important platform for central bank knowledge sharing and international cooperation. The Programme aims to promote professional dialogue and the exchange of best practices among central banks in response to the challenges of a rapidly changing economic environment.

The MNB’s Technical Cooperation Programme continued with a seminar on Financial Stability and Macroprudential Policymaking

The Magyar Nemzeti Bank (MNB) hosted the fourth seminar of its 2025 Technical Cooperation Programme in Budapest between 24–27 November 2025, under the title “Financial Stability and Macroprudential Policymaking.” The event focused on presenting the MNB’s macroprudential framework, financial stability practices, and analytical and supervisory methodologies that support policy decision-making. The programme brought together 22 experts from 16 countries.

At the opening of the event, Gábor Szőcs, Executive Director for International Relations of the MNB, highlighted the importance of continuously monitoring systemic risks and strengthening international cooperation in an increasingly complex financial environment.

During the four-day course, participants gained insight into the MNB’s macroprudential governance and decision-making processes, including the assessment of cyclical risks, the use of borrower-based and real estate-related instruments, liquidity and funding requirements, as well as capital adequacy regulations. The seminar also introduced the MNB’s stress testing framework and its newest decision-supporting methodologies, such as agent-based modelling. Participants were also provided with an overview of the MNB’s practices in data collection and analytical data use, which play a key role in supporting financial stability decision-making. The programme welcomed guest contributions from the Joint Vienna Institute (JVI) and experts from the National Bank of Slovakia, who shared their insight on macroprudential policy.

Launched in 2023, the MNB’s Technical Cooperation Programme continues to serve as an essential platform for central bank knowledge sharing and international cooperation. The Programme aims to promote dialogue and the exchange of best practices among central banks in support of safeguarding financial stability.