Events

International Retail Debt Management Symposium 2022

October 19, 2022
Hybrid

The United States Treasury and the World Bank have successfully co-hosted the International Retail Debt Management Symposium on October 19th, 2022. The Symposium is sponsored by the International Retail Debt Management Conference (IRDMC) core countries and held biennially. The core IRDMC membership includes Brazil, Canada, Hungary, Ireland, Italy, Japan, South Africa, the United Kingdom, and the United States.

This year’s event brought together 26 countries with seasoned retail programs and those looking to establish or review existing programs. The Symposium provided a forum for debt managers to discuss current issues and trends such as product development, distribution channels, market research, and the use of new technology.

This year’s topics included (i) the impact of ESG factors on retail debt programs; (ii) the changes brought by technological innovation; (iii) the costs and benefits of issuing new retail instruments; and (iv) the case of retail instruments dedicated to pension savings.

The 2022 edition of the Symposium was organized by the Finance, Competitiveness & Innovation Global Practice in collaboration with the Macroeconomics, Trade & Investment Global Practice. It was held on a hybrid format.

 

8:00 – 8:25 am

Welcome and Introductions

  • Mr. Anderson Caputo Silva, (Acting) Practice Manager, Finance, Competitiveness & Innovation, World Bank Group
  • Mr. Tim Gribben, Commissioner, Bureau of the Fiscal Service, US Department of the Treasury

8:25 – 9:25 am

How are environmental, social, and governance (ESG) factors impacting retail debt programs?

  • As a growing number of sovereign issuers are including ESG principles in their wholesale debt instruments, will government retail debt programs follow the same trend?
  • How different should be retail ESG instruments compared to those issued for institutional investors?
  • How significant is the retail demand for ESG-related government debt instruments?

Moderator –Mr. Sebastien Boitreaud, Lead Financial Officer, Finance, Competitiveness & Innovation, World Bank Group

Presenters

  • Ms. Cath Warren, Head of Delivery and Monitoring, NS&I, UK [Presentation]
  • Ms. Dwi Irianti Hadiningdyah, Director of Islamic Financing at the Directorate General of Budget Financing and Risk Management, Ministry of Finance of Indonesia [Presentation]

9:25 – 9:30 am

Break


9:30 – 10:30 am

Is technological innovation transforming retail debt programs?

  • What is the impact of digital finance and new technology on retail debt programs?
  • Will new technology make it easier and cheaper to develop and manage government retail debt programs?
  • What is the impact of new technology on the profile of retail investors?

Moderator – Mr. Doug Anderson, Assistant Commissioner of Retail Securities Services, Bureau of the Fiscal Service, US Department of Treasury

Presenters

  • Mr. Luis Fernando Alves, Head of Public Debt Middle Office, National Treasury of Brazil [Presentation]
  • Mr. Murray McCarter, Head of Retail Debt, National Treasury Management Agency, Ireland [Presentation]
  • Ms. Rosalia De Leon, Treasurer of the Philippines [Presentation]

10:30 – 10:35 am

Break

10:35 – 11:35 am

Costs and benefits of issuing new retail debt instruments

  • What are the trade-offs around launching a new retail debt instrument?
  • Should retail instruments be aligned with those offered to wholesale investors or be specifically design for the retail audience?
  • How to ensure that the debt management team has the internal capacity to manage a growing number of retail debt instruments?

Moderator – Mr. Doug Anderson, Assistant Commissioner of Retail Securities Services, Bureau of the Fiscal Service, US Department of Treasury

Presenters

  • Ms. Thobeka Mandita, Senior Analyst, Assets and Liability Management, National Treasury of South Africa [Presentation]
  • Mr. Andras Rez, Deputy CEO, AKK, Hungary [Presentation]
  • Mr. Davide Iacovoni, Director General, Public Debt, Treasury Department, Ministry of Economy and Finance of Italy [Presentation]

11:35 – 11:40 am

Break

11:40 am – 12:40pm

 

Discussion on retail debt instruments dedicated to pension savings

Moderator – Mr. Leandro Puccini Secunho, Senior Debt Specialist, Macroeconomics, Trade & Investment, World Bank Group

Presenters

  • Mr. Greg Till, Deputy Assistant Secretary for Fiscal Operations and Policy, US Department of Treasury
  • Mr. Luis Fernando Alves, Head of Public Debt Middle Office, National Treasury of Brazil

12:40 – 1:00 pm

Conclusion / Feedback for Future Session

Round table with participants to discuss topics of interest for the 2024 meeting