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Policy Challenges for the Financial Sector: Emerging from the Crisis - Building a Stronger International Financial System

 Overview: Every year, the World Bank Group, the Board of Governors of the U.S. Federal Reserve System, and the International Monetary Fund organize a seminar for senior banking authorities - at the level of Deputy Governor or Head of Banking Supervision - from around the world to discuss current policy challenges for the financial sector.

This year, the theme of the seminar was Emerging from the Crisis – Building a Stronger International Financial System. As the impact of the financial crisis has spread throughout the world and into the real sector, bank supervisors and central banks have developed policy responses in their jurisdictions with the goal of minimizing its contagion. The seminar provided a forum for policy makers and practitioners to come together and discuss the effectiveness and practicality of various policy actions, as well as to exchange country experiences and views on which solutions have worked best. The seminar also looked at changes in the regulatory framework of the financial sector and ways to enhance domestic and international policy coordination and cooperation.

Format: Experts identified the critical questions related to these topics, shared recent policy experiences, and stimulated discussion with the audience about implications in different markets. This seminar was of particular interest to senior monetary policy makers and bank supervisors from around the world, especially to those from emerging market economies.

Program Agenda (PDF)


blue arrowAgenda and Presentations

Ninth Annual International Seminar on Policy Challenges for the Financial Sector

Emerging from the Crisis – Building a Stronger International Financial System
June 3-5, 2009
Washington, D.C.

Co-hosted by
The Board of Governors of the Federal Reserve System, The International Monetary Fund,
and The World Bank

 Wednesday, June 3, 2009
9:30 – 10:00Registration
10:00 – 10:10Welcoming Remarks and Administrative Announcements
Sarkis Yoghourtdjian, Advisor, Division of Banking Supervision and Regulation,
Board of Governors of the Federal ReserveSystem
10:10 – 10:15Opening Remarks
Roger T. Cole, Director, Division of Banking Supervision and Regulation,
Board of Governors of the Federal Reserve System
10:15 – 10:45Keynote Address
 Donald L. Kohn, Vice-Chairman
 Board of Governors of the Federal Reserve System
10:45 – 11:00Coffee Break
11:00 – 12:15Session 1: Global Financial Crisis: Understanding the Contagion and the Current Situation
Session Chair: Jonathan L. Fiechter, Deputy Director, Monetary and Capital Markets Department, IMF
Justin Yifu Lin, Chief Economist and Senior Vice President, World Bank
Georges Pineau, Permanent Representative to the IMF, European Central Bank
Mark Sobel, Deputy Assistant Secretary, U.S. Department of the Treasury
12:30 – 1:30Luncheon
Hosted by the Board of Governors of the Federal Reserve System; Terrace Level – Dining Room E
Keynote Speaker: Daniel K. Tarullo, Governor, Board of Governors of the Federal Reserve System
1:45 – 3:15Session 2: Evaluating the Policy Responses – What Has Been Effective?
Session Chair: Aditya Narain, Deputy Division Chief, Monetary and Capital Markets Department, IMF
Edwin Truman, Senior Fellow, Peterson Institute for International Economics
Nigel Jenkinson, Adviser to the Governor, Bank of England
Eva Hüpkes, Head of Policy and Regulation, International Banking, Swiss Financial Market Supervisory Authority
3:15 – 3:30Coffee Break
3:30 – 5:00Session 3: Avoiding the Eye of the Storm – Experiences from Emerging Economies
Session Chair: Augusto de la Torre, Chief Economist, Latin America and the Caribbean, World Bank
Liao Min, Director General, China Banking Regulatory Commission
Muhammad Baasiri, Vice Governor, Central Bank of Lebanon
Miroslav Singer, Vice-Governor, Czech National Bank
Fouad Matraji, General Manager, Arab Finance House
5:00 – 5:15Perspectives on the Seminar Theme
 Ben S. Bernanke, Chairman
 Board of Governors of the Federal Reserve System
5:15 – 5:45Group Photograph
5:45 – 7:00Reception
Hosted by the Federal Reserve Board, Eccles Building Atrium
 Thursday, June 4, 2009
The World Bank
Main Complex Building, Executive Board Room
Room MC13-121
1818 H Street, N.W. (corner of 18th and H Streets)
Washington, D.C.
8:30 – 9:00Check-in and Light Breakfast
9:00 – 9: 30Keynote Address Day 2: The International Financial Architecture
John Dugan, Comptroller
Office of the Comptroller of the Currency
9:30 – 10:45Session 4: Issues Highlighted by the Crisis – Expanding the Regulatory Perimeter
Session Chair: Jack Jennings, Associate Director, Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System
Danièle Nouy, Secretary General, Banking Commission of France
Shyamala Gopinath, Deputy Governor, Reserve Bank of India
10:45 - 11:00Coffee Break
11:00 – 12:15Session 5: Issues Highlighted by the Crisis – Mitigating Procyclicality in Bank Regulation
Session Chair: Jan Brockmeijer, Deputy Director, Monetary and Capital Markets Department, IMF
Alvir Hoffmann, Deputy Governor, Banco Central do Brasil
Wayne Byres, Executive General Manager, Australia Prudential Regulation Authority
12:30 – 2:00Luncheon
Hosted by the International Monetary Fund
Headquarters 1 Building - The Reception Hall
Second Floor, Room 307
700 - 19th Street, N.W.
Washington, D.C.
Keynote Speaker: Murilo Portugal, Deputy Managing Director, IMF
2:15 – 3:30Session 6: Issues Highlighted by the Crisis – Making the Marriage Work: Reconciling Accounting and Regulatory Approaches
Session Chair: Arthur W. Lindo, Associate Director and Chief Accountant, Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System
Kevin J. Bailey, Deputy Comptroller, Office of the Comptroller of the Currency
John Smith, International Accounting Standards Board
3:30 – 3:45Coffee Break
3:45 – 4:15Session 7: Issues Highlighted by the Crisis – Enhancing National and International Cooperation and Coordination
Session Chair: Robert Kahn, Senior Adviser, Financial Systems Unit, Financial and Private Sector Development Vice-Presidency, World Bank
Noel Sacasa, Senior Financial Sector Expert, International Monetary Fund
Martin Barto, Vice Governor, National Bank of Slovakia
4:15 – 5:15Session 8: Breakout Groups
 (i) Making Supervisory Colleges Work
Moderator: Jack Jennings, Associate Director, Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System
 (ii) Building Crisis Management Capabilities
Moderator: Robert Liu, Senior Financial Sector Specialist, Financial Systems Unit, Financial and Private Sector Development Vice-Presidency, World Bank
 (iii) Addressing Information Gaps
Moderator: Nancy Rawlings, Financial Sector Expert, Monetary and Capital Markets Department, IMF
Participants will choose from among these topics to discuss the challenges in their countries and to share experiences.
5:15– 6:15Session 9: Reports from Breakout Groups and General Discussion
Session Chair: Robert Kahn, Senior Adviser, Financial Systems Unit, Financial and Private Sector Development Vice-Presidency, World Bank
6:30 – 8:00Dinner
Hosted by Penelope J. Brook, Acting Vice President, Financial and Private Sector Development, World Bank-IFC
The World Bank, 12th Floor Gallery
 Friday, June 5, 2009
The International Monetary Fund
Headquarters 2 Building, Conference Halls 1 and 2
First Floor, Rooms 820 and 830
700 - 19th Street, N.W.
Washington, D.C.
9:15 – 9:30Keynote Address Day 3:
Jose Viñals, Director and Financial Counselor, Monetary and Capital Markets Department, IMF; former Deputy Governor of the Bank of Spain
9:30 – 10:30Session 10: Making Macroprudential Supervision Work – What Should Supervisors Do?
Session Chair: Roger T. Cole, Director, Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System
José María Roldán, Director General of Banking Regulation, Bank of Spain
Kostas Tsatsaronis, Head of Financial Institutions and Infrastructure, Research and Policy Analysis Division, Bank for International Settlements
10:30 – 10:45Coffee break
10:45 – 12:15Session 11: Looking Ahead With Renewed Vigilance
Session Chair: David Marston, Senior Advisor, Strategy, Policy, and Review Department, IMF
Stefan Walter, Secretary General, Basel Committee on Banking Supervision
Sir John Gieve, former Deputy Governor for Financial Stability, Bank of England
William A. Ryback, former Deputy Chief Executive, Hong Kong Monetary Agency and former Special Advisor, Financial Supervisory Service, Korea


Program Managers

Aditya Narain, Deputy Division Chief, Monetary and Capital Markets Department, International Monetary Fund; Nancy J. Rawlings, Financial Sector Expert, Monetary and Capital Markets Department, International Monetary Fund

Robert Liu, Senior Financial Sector Specialist, Financial Systems Department, Finance and Private Sector Development Vice- Presidency, The World Bank

Sarkis Yoghourtdjian, Advisor, Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System


blue arrowContacts
Conference Organizers:
Sarkis Yoghourtdjian, Advisor, Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System

Aditya Narain, Deputy Division Chief, Monetary and Capital Markets Department, International Monetary Fund

Nancy J. Rawlings, Financial Sector Expert, Monetary and Capital Markets Department, International Monetary Fund

Robert Liu, Senior Financial Sector Specialist, Financial Systems Department, Finance and Private Sector Development Vice- Presidency, The World Bank Group

For questions concerning this course, please contact:
Maria Alexandra Velez
Finance and Private Sector Learning Program
World Bank
2121 Pennsylvania Avenue, NW, MSN F4K-411
Washington, DC 20433 USA
Email:
 Mvelezhenao@ifc.org
Tel: +1 202 458 8789
Fax: +1 202 522 3480

blue arrowRegistration
The event took place on June 3-5, 2009 in Washington, D.C.

To find out more about another seminar in this series, or to obtain information on future seminars, please contact Sarkis Yoghourtdjian, Advisor, Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System, at Sarkis.Yoghourtdjian@frb.gov.
 

blue arrowPayment
There is no fee for participation in this seminar, but the seminar is offered by invitation only for Deputy Governors of Central Banks and Heads of Financial Supervisory Authorities. To inquire about registration, please contact Mrs. Maria Alexandra Velez at Mvelezhenao@ifc.org.

blue arrowAccommodation
Participants are responsible for making their travel and hotel arrangements. For your convenience, we have listed some hotels within walking distance to the seminar venue. Please find contact information and addresses for these hotels below. Washington DC hotel tax is 14.5%.

If you e-mail to make a reservation please do not forget to include the following: (i) Name, (ii) Contact information, (iii) Dates you will stay, and (iv) Credit card number and expiration date.

Hotel Lombardy
2019 Pennsylvania Ave., NW
Washington, D.C. 20006
www.hotellombardy.com/HL
Tel: +1 800 424-5486 (toll free)
Fax: +1 202 872-0503
E-mail: 2019reservations@hotellombardy.com

The State Plaza Hotel
2117 E Street, NW
Washington, D.C. 20037
www.stateplaza.com
Tel: +1 202 861-8200 or +1 800 424-2859 (toll free)
Fax: +1 202 587-1354
E-mail: reservations@stateplaza.com

Lincoln Suites
1823 L St., NW
Washington, D.C. 20036
www.lincolnhotels.com
Tel: +1 202 223-4320
Fax: +1 202 293-4977
Email: reservations@lsddc.com

Concordia IMF Apartments
(Rooms include kitchens)
1250 New Hampshire Ave, NW
Washington, D.C. 20036
www.theconcordia.com
Tel: +1 202 557-2000
Fax: +1 202 557-2201

Melrose Hotel
2430 Pennsylvania Ave., NW
Washington, D.C. 20037
www.melrosehoteldc.com
Tel: +1 202 955-6400
Fax: +1 202 955-5764
Email:
 Washington@melrosehotel.com


Photos from the conference (click to enlarge):
Policy Challanges 2009 1Policy Challanges 2009 2 Policy Challanges 2009 3Policy Challanges 2009 4
       
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Policy Challanges 2009  Policy Challanges 2009  Policy Challanges 2009  Policy Challanges 2009 

 




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