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Sixth ESRB annual conference

“Addressing Financial Stability Challenges”

Programme

Thursday, 8 December 2022

Online event with live webstream

Times are Central European Time (UTC+1)

13:00 – 13:15

Welcome address

Christine Lagarde, Chair of the ESRB

Christine Lagarde, in her capacity of Chair of the European Systemic Risk Board (ESRB), will open the conference with a welcome address to conference participants (pre-recorded).

13:15 – 14:15

Panel discussion: Navigating through a storm: policy challenges in the current macro-economic environment

The current macro-economic environment is characterised by challenges created by a weakened economic outlook, high inflation, disrupted supply chains, increased geopolitical tensions, the transition risks to net zero and ageing population. What are the implications of this environment for macroprudential policy? Is the current macroprudential toolkit equipped for it? Where should the focus be?

Chair: Pablo Hernández de Cos, Governor of Banco de España and Chair of the ESRB Advisory Technical Committee

Panellists:
Claudio Borio, Head of Monetary and Economic Department, Bank of International Settlements
Alfred Kammer, European Department Director, International Monetary Fund
Lucrezia Reichlin, Full Professor of Economics, London Business School
Ricardo Reis, A.W. Phillips Professor of Economics, London School of Economics and Political Science

14:15 – 14:35

Q&A

14:35 – 15:05

Keynote speech by Daron Acemoglu, Institute Professor, Massachusetts Institute of Technology, who will address the topic “Can we have a better future for work, wages and democracy?”.

15:05 – 15:30

Coffee break

15:30 – 16:30

Panel discussion: Technological innovation and systemic risk

The recent wave of financial innovation, based on the opportunities digitalisation offers, can benefit customers of financial services and increase competition and contestability in the financial system. It can also facilitate the task of prudential authorities through, for example, the processing of large datasets. However, besides benefits, technological innovation can also bring new challenges. How is technological innovation reshaping systemic risk? What are the key priorities for regulation and how could macroprudential policy mitigate new sources of systemic risk?

Chair: Cecilia Skingsley, Head, BIS Innovation Hub, Bank of International Settlements

Panellists:
Michael Leibrock, Managing Director, The Depository Trust and Clearing Corporation
Nellie Liang, Under Secretary for Domestic Finance, U.S. Treasury Department
Andrea Maechler, Member of the Governing Board, Swiss National Bank
Xavier Vives, Professor of Economics and Financial Management, Director of the Banking Initiative, IESE Business School, University of Navarra

16:30 – 16:50

Q&A

16:50 – 17:20

Keynote speech by Stefan Ingves, Governor of Sveriges Riksbank, and First Vice-Chair of the ESRB, who will address the topic “Macroprudential policy: Where do we come from and what’s next?”.

17:20 – 17:30

Closing remarks

Francesco Mazzaferro, in his capacity of Head of the ESRB Secretariat, noting its highlights.

17.30

End of conference

 

Conference speakers

 

General information

Dates: Thursday, 8 December 2022

Venue: Online conference with live webstream organised by the European Systemic Risk Board.

Language: English

Organising committee: European Systemic Risk Board: Tuomas Peltonen, Antonio Sanchez Serrano, Shirley Simmons-Nocca

Conference moderation: Conny Lotze

Contact: ESRBevents@esrb.europa.eu

Attendees are invited to submit their questions to panellists before and during the conference via Mentimeter using the voting code 4722 8727. Please indicate which panel you would like to address your question to.

Please note that this programme may be subject to change without notice.

Disclaimer: This event will be livestreamed on the ESRB website and recorded. Video recordings, or parts thereof, will be published on the ESRB website.