Demet Çanakçı
Email: dcanakci@torontocentre.org
Demet Çanakçı joined Toronto Centre in 2014 as a Program Director and has solid professional experience in both supervision and central banking for more than 25 years. Before joining Toronto Centre, she served as deputy head in the Financial Sector Assessment division of the Central Bank of the Republic of Turkey (CBRT) where she was responsible for both financial stability and international regulations.
Before returning to the CBRT, she was a deputy head in the Banking Regulation and Supervision Agency of Turkey, and an economist at the International Monetary Fund (IMF). She has covered financial stability, macroprudential surveillance, macro stress-testing, Basel II and III, Basel core principles, contingency planning, banking sector restructuring, and crisis management topics in a range of publications. She holds a Master of Economics degree from North Carolina State University, was a research scholar at the Kiel Institute for World Economics, and a visiting scholar at George Washington University.
Papers Published in World Economics:
Bank Resolution and Crisis Preparedness in Unprecedented Times
This article looks into the challenges ahead for deposit insurers and underscores the urgency of testing contingency planning and crisis management frameworks at national and system-wide levels, and the importance of communication, cooperation and coordination at home and abroad. Financial safety-net authorities should put the necessary crisis management frameworks in place to maximise the benefits of the international standards developed in response to the global financial crisis. Deposit insurers and resolution authorities should plan for dealing with an orderly resolution of failing banks before the pandemic measures are lifted. Deposit insurers and other safety-net participants need to strengthen their supervisory and crisis management frameworks and address any weaknesses identified. Developing a communications strategy should be an essential part of crisis management frameworks. Cooperation and coordination at home and abroad remains the key issue to be addressed for many jurisdictions.
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