Summary

Session I: Principles and Tools of Effective Central Bank Communications and Central Bank Branding

Session Chair: Mr. Niels Bünemann
(Communications Advisor and Journalist, publimus.eu))

Central Bank: Transparency Versus Confidentiality
Ms. Ina Muzaka (Head of Press Office, Bank of Albania)

How Central Banks Can Generate Corporate Identity
Mr. Zoran Nišavić (General Manager of the International Relations Department, National Bank of Serbia)

Croatian National Bank: New Public; New Messages, New Communication Formats
Ms. Alemka Lisinski (Executive Director of Communications Area, Croatian National Bank)

Main topics of the session were the transparency, corporate identity and changing communication landscape. Speakers pointed out the importance of corporate identity for central banks. Also they acknowledged how transparecy and opennes creates confidence in central banks. Additionally it was agreed that it is important to measure the effectiveness of communication. Therefore we have to generate mechanisms to measure if our efforts for communication are paying off. 

 

Session II: Communication Channels: Incorporating Technology to Existing Tools

Session Chair: Mr. Hakan Atasoy
(Executive Director, Communications and Foreign Relations Department, Central Bank of the Republic of Turkey)

The Experience of Launching a New Website
Mr. Özgür Balaban (Chief, Public Relations Division, Central Bank of the Republic of Turkey)

Social Media in Central Bank Online Communication with Special Regard to Video Content and Narodowy Bank Polski Social Network Presence – Case Study
Mr. Andrzej Barabasz (Chief Specialist, National Bank of Poland)
Mr. Marcin Malinowski (Senior Specialist, National Bank of Poland)

How Should Central Banks Use Social Media?
Ms. Dragica Petrović (Head of Communication Division within the Governor’s Office, National Bank of Serbia)

The main theme of the session was the challenges and opportunities central banks facing in the age of digitallization. Participants shared their ideas on the use of digital communication instruments such as websites and social media platforms. The importance of the diversification of the instruments according to different target groups and the need of extensive use of multimedia contents to make audience well receive the central banks' messages are the focus of the disccusion. It was agreed that to avoid the risks and preserve reputation central banks should closely monitor the digital channels and should have a plan to fastly response to the crisis situations. 

Session III: Media Relations

Session Chair: Mr. Ferhat Çamlıca
(Director, European Union and Bilateral Economic Relations Division,Communications and Foreign Relations Department, Central Bank of the Republic of Turkey)

CBRT Media Relations
Ms. Emel Demirgören Şahin (Head of Section, Public Relations Division, Central Bank of the Republic of Turkey)

BNB's Relations with the Media
Mr. Krasimir Ivanov Lakov (Advisor to the Governor, Bulgarian National Bank)

Press Conference Management
Ms. Dragica Petrović (Head of Communication Division within the Governor’s Office, National Bank of Serbia)

In the process of dissemination of central bank’s announcements the media’s role is not only described as a channel for information, but also it shapes the beliefs of economic agents with the news they create.  This session focused on, if there is such an important intermediary between the bank and the general public, how the central banks design communication strategies to be sure that the policy moves and goals are well taken. In this session the speakers discussed different approaches on using efficient instruments to be as clear and precise as possible to avoid misinterpretations and shared their experiences.

Session IV: The Role of Central Banks in Financial Education and Central Bank Museums / Learning Centers

Session Chair: Ms. Alemka Lisinski
(Executive Director of Communications Area, Croatian National Bank)

Why Central Banks Support Economic and Financial Education?
Mr. Zoran Nišavić (General Manager of the International Relations Department, National Bank of Serbia)

Financial Education Activities of the CBRT – What Have We Learned So Far?
Ms. Çiğdem Karataş (Specialist, Public Relations Division, Central Bank of the Republic of Turkey)

Central Bank Museum as a Learning Centre – National Bank of the Republic of Macedonia
Mr. Petar Karanakov (Senior Advisor in the Governor’s Office, National Bank of the Republic of Macedonia)

Museum of Bank of Greece
Mr. Emmanuel (Manos) Kordakis (Head of Museum and Collections Section, Bank of Greece)

Financial Education Developments in the Central Bank of the Republic of Kosovo
Ms. Valmira Halili (Executive Assistant to Deputy Governor, Central Bank of the Republic of Kosovo)
Ms. Ajshe Ramosaj Ahmetaj (Head of Financial Education, Protocol and Communication Division, Central Bank of the Republic of Kosovo)

In this session, the need and importance of financial education was highligthed. In addition, the roles and the tasks of different central banks to inform people were shared among the participants. Also, the implementations and future projects on financial education were discussed. The other main discussion was about central bank museums of the countries as learning centres for the public. At the end of the session, all participants confirmed that the main objective of the central banks on financial education is educating people about money and the monetary policy. To achieve it, clarification of target groups, capturing all of them and differentiating the channels to reach them should be essential. 

Session V: Crisis Management at a Central Bank, Preparing for Crisis Situations in Advance

Session Chair: Ms. Canan Binal Yılmaz
(Director, Public Relations Division, Communications and Foreign Relations Department, Central Bank of the Republic of Turkey)

Crisis Communication Plan
Ms. Marija Radenović (Special Advisor in Directorate for Human Resources and Public Relations, Central Bank of Montenegro)

Anti-Crisis Case on the Nationalization of the Biggest Ukrainian Bank – Privatbank – in Late 2016
Ms. Nataliia Bondarenko (Head of Information and Public C ommunications Office, National Bank of Ukraine)

Lessons Learned After the Corporate Commercial Bank Crisis
Mr. Krasimir Ivanov Lakov (Advisor to the Governor, Bulgarian National Bank)

Crisis Situation Management (April 2016 Meltdown - Real Event)
Mr. Petar Karanakov (Senior Advisor in the Governor’s Office, National Bank of the Republic of Macedonia)

The participants shared their crisis communication plans and the experiences they have gained in particular crisis situations. The overall conclusion of the session was that central banks, no matter how hard they try to avoid crisis situations, may face crisis and they have to be prepared for them. Central banks have to be quick, consistent and honest with their communication during crisis.  The participants agreed on the importance of having one voice in crisis communication plans and employing various tools. They acknowledged picking the right medium and right message is important. Yet, many speakers agreed that television remains an important communication channel for crisis communication.