Events
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15th Annual International Conference on Policy Challenges for the Financial Sector
June 3-5, 2015Washington D.C.

The central theme of this year’s conference was “Changing Landscape of Financial Intermediation: Impact and Implications for Risk Management, Regulation and Supervision.”

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The 15th Annual International Conference on Policy Challenges for the Financial Sector, jointly organized by the World Bank Group, the International Monetary Fund and the Board of Governors of the Federal Reserve System, took place on June 3-5, 2015 in Washington, D.C.

The central theme of this year’s conference was “Changing Landscape of Financial Intermediation: Impact and Implications for Risk Management, Regulation and Supervision”. Participants discussed a range of topics, including how to get banks to better serve the economy; how to manage emerging risks such as those associated with the shift to market-based financing, misconduct and related enforcement actions, and cyber threats; what remains to be done to enable effective cross-border resolution; what is the role of market discipline and its interactions with prudential oversight; and what institutional and governance arrangements are best suited to deal with the biggest problems faced by policymakers under the context of macroprudential oversight.

Around eighty Central Bank Governors, Deputy Governors, Heads of Supervision and other senior financial sector officials from around the world gathered at this event. The heads of the organizing institutions, Chair of the Board of Governors of the Federal Reserve System Janet Yellen, Managing Director of the International Monetary Fund Christine Lagarde, and President of The World Bank Group Jim Yong Kim, as well as many distinguished guest speakers, spoke during the conference.

  • Opening Discussion
  • How do we get banks to better serve the real economy: ethics, incentives, and the role of supervisors
    Frédéric Visnovsky, Deputy Secretary General, Autorité de Contrôle Prudentiel et de Résolution, Bank of France
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  • From Washington to Wall Street to Main Street
    Nomi Prins, Distinguished Senior Fellow, Demos Group
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  • Session 1: The shift to market-based financing—understanding and managing new risks
  • The shift to market-based financing – Understanding and managing new risks
    Barbara Novick, Vice Chairman, BlackRock
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  • Session 2: What are the roles and limitations of market discipline?
  • Market discipline: challenges and limitations
    Aerdt Houben, Director Financial Markets, Dutch National Bank
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  • Financial stability board interest in market discipline
    Richard Thorpe, FSB Adviser on Accounting and Auditing
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  • Facilitating investor role in market discipline: criticality of transparent reporting
    Vincent Papa, Director of Financial Reporting Policy, CFA Institute
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  • Session 4: Cross-border resolution—the saga continues
  • Implementation and execution of an orderly cross-border resolution of an internationally active bank
    Masamichi Kono, Vice Minister for International Affairs, Japan Financial Services Agency
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  • Cross-border resolution—the saga continues
    Wilson Ervin, Vice Chairman, Credit Suisse
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  • Session 5: Cyber security in finance
  • Managing cyber risks as regulators
    HO Hern Shin, Executive Director, Specialist Risk, Monetary Authority of Singapore
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  • Cyber security in finance
    John Trundle, Chief Executive Officer, Euroclear UK & Ireland
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  • Session 6: Supervisory governance and structure—addressing the new challenges
  • Macroprudentialism: the governance challenges
    Donato Masciandaro, Professor, Bocconi University
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  • International Monetary Fund

  • Board of Governors of the Federal Reserve System