The International Retail Debt Management Symposium brings together countries with seasoned retail programs and those looking to establish or review existing programs. The Symposium provides a forum for debt managers to discuss current issues and trends such as product development, distribution channels, market research, and use of new technology.
AGENDA
8.00 – 8.30 am Registration MC East Visitor Center (18th Street Entrance)
8.00 – 8.30 am Buffet Breakfast, MC13-121
8:30 – 9:00 am Welcome and Introductions Axel Peuker, Director, Financial Advisory & Banking, World Bank Treasury, David Lebryk, Fiscal Assistant Secretary, United States Department of Treasury
9:00 – 10:00 am Objectives and Role of Retail Programs
Update on the evaluation of the retail debt programs with respect to the stated objectives and the role these programs were expected to play: How do countries assess program performance? How has this evaluation changed over time? What objectives are more difficult to evaluate? Has the environment of low interest rates affected the performance of retail debt programs? Moderator Ms. Bernadette Goodwin, Director, Division of Policy, Planning & Analysis, U.S. Treasury, Bureau of the Fiscal Service, Presenters Mr. György János Barcza, CEO, Government Debt Agency, Hungary, Ms. Ann-Sofi Dalmo, Head of Retail Market Department, National Debt Office, Sweden, Discussant Mr. Massimo Giulimondi, Office Manager, Ministry of Economy and Finance, Italy
10.00 – 11.15 am Organization of Retail Borrowing Programs
Retail operations can be established as part of the debt management office, or as units/departments exclusively focused on retail borrowing.
The session will discuss: The pros and cons of different organizational arrangements, Alternative channels to distribute, settle and record retail government securities, Efficiency of back office processes, How to ensure program cost-effectiveness in a low interest rate environment, Moderator Ms. Marcia Goodnight, Director, Division of Customer Service, U.S. Treasury, Bureau of the Fiscal Service, Presenters Mr. Bogdan Teju, Expert, Ministry of Public Finance, Romania, Mr. Sandro Ambrosanio, Head of Funding at Cassa Depositi e Prestiti, Ministry of Economy and Finance, Italy, Discussant Mr. Peter Cornish, Risk Director, National Savings and Investments United Kingdom
11.15 –11.30 am Coffee Break
11.30 – 12.45 pm Competition from Bank Saving Products
Programs in different countries have varying degrees of competition
from financial institutions: What is the situation of countries in the International Retail Debt
Management Conference? How is this competition affecting the performance of retail debt programs? How do countries handle competition from commercial financial institutions? How can countries balance the objective of financing the government at the lowest cost while also strengthening the financial sector’s resiliency? Moderator Mr. Sebastien Boitreaud, Lead Financial Officer, Financial Advisory & Banking Department, World Bank Treasury, Presenters Mr. Andre Proite, Manager, Brazilian National Treasury, Brazil, Mr. Peter Cornish, Risk Director, National Savings and Investments, United Kingdom, Discussant Mr. Hakki Karatas, Deputy Director General, Turkish Treasury, Turkey
12.45 – 1.45 pm Luncheon, MC13-121
1.45 – 2.45 pm Link of Retail Programs with Debt Management Strategies
In some countries retail programs are run independently from wholesale
debt management programs. In others debt managers take into account
the sale of retail instruments when they plan for the desired composition
of the government debt portfolio. What are the pros and cons of each approach? Why have countries decided in favor of one over the other? Moderator Mr. Antonio Velandia-Rubiano, Lead Financial Officer, Financial Advisory & Banking Department, World Bank Treasury, Presenters Mr. Lerato Mogoere, Analyst Debt Operations, National Treasury, South Africa, Ms. Victoria Buscio, Senior Financial Analyst, Debt Management Unit Ministry of Finance, Uruguay, Discussant Mr. Massimo Giulimondi, Office Manager, Ministry of Economy and
Finance, Italy
2.45 – 3.15 pm Coffee Break
3.15 – 4.15 pm New Technologies Applied to Retail Programs
The use of technology like mobile phones, can dramatically reduce the
distribution and settlement costs of retail debt programs and enhance the
use and interest of such programs for many countries. Countries will
present their programs with details on how a retail investor would
purchase a security. The session will also include a demonstration of the
system in South Africa. Moderator Mr. Sebastien Boitreaud, Lead Financial Officer, Financial Advisory & Banking Department, World Bank Treasury, Presenters Mr. Ruben Omar Rincon, Internal Credit Director, Secretariat of Finance and Public Credit, Mexico, Mr. Lerato Mogoere, Analyst Debt Operations, National Treasury, South Africa, Discussant Mr. Andre Proite, Manager, Brazilian National Treasury, Brazil
4.15 – 5.00 pm Feedback for Future Sessions
Round table with participants to discuss topics of interest for the 2018
meeting.
