ESRB@15: may you stay forever young

Welcome address

Christine Lagarde, in her capacity as Chair of the European Systemic Risk Board (ESRB), opened the conference with a welcome address.

Fireside talk: Us in the mirror: How to ensure that the EU financial system contributes to a strong EU?

The EU is currently confronted with a challenging macroeconomic environment, coupled with a complex geopolitical landscape. This highlights the need for a financial system that effectively contributes to a strong EU. This panel discussed how to achieve this.

Chair: Christine Lagarde, Chair of the European Systemic Risk Board, and President of the European Central Bank

Distinguished speakers:

• Klaas Knot, Former President, De Nederlandsche Bank
• Stefan Ingves, Former Governor, Sveriges Riksbank, Chairman, Toronto Centre, and Senior Fellow, Swedish House of Finance

Keynote speech

Hélène Rey, Economic Adviser and Head of the Monetary and Economic Department, Bank for International Settlements, delivered a keynote speech.
Presentation

Response by Luc Laeven, Director General Research, European Central Bank
Presentation

Keynote speech

Olli Rehn, Governor, Suomen Pankki, and ESRB First Vice Chair, delivered a keynote speech. 
Presentation

Response by Jeromin Zettelmeyer, Director, Bruegel

Panel discussion: Don’t look back in anger: how the EU financial system has changed in the last fifteen years and how to continue to develop its resilience for the future

The EU financial system faced severe strain and lacked sufficient resilience to the global financial crisis, which led to an ambitious global regulatory reform. This panel explored the key lessons learned and how to ensure that the EU financial system continues to be resilient to emerging challenges.

Chair: Olaf Sleijpen, President, De Nederlandsche Bank, and Chair of the ESRB Advisory Technical Committee

Panellists:

• Gabriel Bernardino, Chair of the Insurance and Pension Funds Supervisory Authority, Portugal
• Andrea Enria, Former Chair of the ECB’s Supervisory Board and of the European Banking Authority
• Stefan Ingves, Former Governor, Sveriges Riksbank, Chairman, Toronto Centre, and Senior Fellow, Swedish House of Finance
• Verena Ross, Chair of the European Securities and Markets Authority

Q&A

Winner of the 2026 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.
Xu Lu (University of Washington) and Lingxuan Wu (NYU Stern, New York University) presented their award-winning paper entitled “Banking on Inattention” which was selected as the winner of the 2026 edition of the prize.

Chair: Loriana Pelizzon, Chair of ESRB Advisory Scientific Committee, Deputy Director at SAFE, and Professor at Goethe University Frankfurt. 

Keynote speech

Boris Vujčić, Vice President of the European Central Bank, delivered a keynote speech.
Presentation

Response by Stephen Cecchetti, Vice-Chair of the ESRB Advisory Scientific Committee, and Rosen Family Chair in International Finance, Brandeis International Business School
Presentation

Panel discussion: ¿Qué será, será? The financial system in the next fifteen years

The EU financial system is challenged by a range of new vulnerabilities and emerging threats, many of which originate outside traditional financial intermediation activities. This panel explored how these structural shifts could transform the financial system and consider its possible evolution over the next fifteen years.

Chair: Thorsten Beck, Vice-Chair of the ESRB Advisory Scientific Committee, and Director and Professor at European University Institute

Panellists:

• Ulrich Bindseil, Professor, Frankfurt School of Finance and Management
• Claudia Buch, Chair of the Single Supervisory Mechanism
• Antonio Gomes, Deputy Director of the OECD Directorate for Financial and Enterprise Affairs (DAF)
• Richard Portes, Member of the ESRB Advisory Scientific Committee and Professor at London Business School

Q&A

Closing remarks 

Francesco Mazzaferro, Head of the ESRB Secretariat 
Speech