New Frontiers in Macroprudential Policy
Thursday, 26 September 2024 – Friday, 27 September 2024
Live event (by invitation only) with livestream
Times are Central European Summer Time (UTC +2)
PHOTOS
High-quality images of the ESRB Conference are available via Flickr.
- 15:30-15:45
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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.
15:45-16:15
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Keynote speech by Claudia Buch, Chair of the Supervisory Board of the ECB
- 16:15-17:15
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Panel discussion: Macroprudential policy beyond banking
While the macroprudential framework for the banking sector has been in place for several years, its equivalent for non-bank financial institutions is still emerging. This panel discussion on macroprudential policy beyond banking is relevant in light of the review of the macroprudential framework for non-banks that the European Commission is conducting in 2024.
Chair: Luis de Guindos, Vice-President, European Central Bank
Panellists:
- Petra Hielkema, Chair, EIOPA
- Steffen Kern, Chief Economist, ESMA
- Javier Suarez, Professor, Centre for Monetary and Financial Studies, Member of the ESRB Advisory Scientific Committee
- Dimitrios Tsomocos, Professor and Fellow by Special Election, University of Oxford
- 17:15-17:35
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Q&A
17:35-19:00
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Reception
- 09:00-09:15
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Welcome address
Pablo Hernández de Cos, Chair of the Advisory Technical Committee, and former Governor of Banco de España
Pablo Hernández de Cos, in his capacity as Chair of the ESRB Advisory Technical Committee, and former Governor of Banco de España, opened the second day of the conference (pre-recorded).
- 09:15-09:45
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Keynote speech by Olli Rehn, ESRB First Vice-Chair, Governor of Suomen Pankki
Presentation
- 09:45-10:45
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Panel discussion: Artificial Intelligence and systemic risk
This panel discussion aims to explore how AI is reshaping the landscape of financial stability and systemic risk, from the perspective of industry practitioners and academics. The panel will address both opportunities and challenges that lie ahead in integrating advanced AI technologies within Europe’s financial system.
Chair: Andréa Maechler, Deputy General Manager, Bank for International Settlements
Panellists:
- Zanna Iscenko, Principal Economist, Google
- Sudeep Kesh, Chief Innovation Officer, S&P Global Ratings
- Robin Lumsdaine, Professor, American University, Member of the ESRB Advisory Scientific Committee
- Dirk Zetzsche, Professor, University of Luxembourg
- 10:45-11:05
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Q&A
- 11:05-11:20
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Coffee break
- 11:20-12.05
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Winner of the 2024 Edition of the Ieke van den Burg prize
The ESRB’s Advisory Scientific Committee awards the Ieke van den Burg prize to recognise outstanding research conducted by young scholars on a topic related to the ESRB’s mission. Tsvetelina Nenova presented her paper “Global or Regional Safe Assets: Evidence from Bond Substitution Patterns”, which has won the 2024 Edition of the prize.
Chair: Loriana Pelizzon, Professor, SAFE/Goethe University, Vice-Chair of the ESRB Advisory Scientific Committee
Winner: Tsvetelina Nenova, Economist, Bank for International Settlements
- 12:05-13:20
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Lunch
- 13:20-14:20
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Panel discussion: Systemic liquidity
This panel discussed systemic liquidity risk, highlighting how market and funding strains can affect the financial system, often necessitating intervention from central banks and authorities. The panel explored methods for detecting and addressing vulnerabilities proactively, and strategies for mitigating the impact if such risks materialise.
Chair: Stephen Cecchetti, Professor, Brandeis International Business School, Vice-Chair of the ESRB Advisory Scientific Committee
Panellists:
Linda Goldberg, Financial Research Adviser, Federal Reserve Bank of New York
Rafael Repullo, Professor, Centre for Monetary and Financial Studies
Hyun Song Shin, Economic Adviser, Bank for International Settlements
Erik Thedéen, Governor, Sveriges Riksbank
- 14:20-14:40
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Q&A
- 14:40-15:40
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Panel discussion: Emerging risks and macroprudential policy
Recent shocks, from natural disasters and cyberattacks to geopolitical tensions, have heightened uncertainty. These events impact financial markets and institutions, challenging regulatory and supervisory authorities. This panel explored these risks and strategies to manage them and the associated uncertainty.
Chair: Thorsten Beck, Professor, European University Institute, Chair of the ESRB Advisory Scientific Committee
Panellists:
- Ian Goldin, Professor, Oxford Martin School
- Trevor Maynard, Director, Centre for Risk Studies, University of Cambridge
- Fernando Restoy, Chair, Financial Stability Institute
- Jukka Savolainen, Director, Hybrid CoE
- 15:40-16:00
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Q&A
- 16:00-16:10
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Closing remarks by Francesco Mazzaferro, Head of the ESRB Secretariat
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End of conference
Key takeaways
- Dates
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Thursday-Friday, 26-27 September 2024
- Venue
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Live event with livestream
- Language
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English
- Organising committee
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European Systemic Risk Board: Tuomas Peltonen, Jonathan Rice, Antonio Sánchez Serrano, Shirley Simmons-Nocca
- Conference moderation
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Conny Lotze
- Contact
This programme may be subject to change without notice.
Audiovisual notice: The entire event will be live streamed and video recordings, or parts thereof, will be uploaded to the ESRB’s website shortly after the conference.