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Fifth Annual International Seminar on Policy Challenges for the Financial Sector

International Financial Conglomerates - Issues and Challenges

Day 1 I Day 2 I Day 3 

 DAY 1:  Wednesday, June 1,  2005

      Mariner S. Eccles Federal Reserve Board Building

20th and C Streets, N.W. Washington, D.C.

 9:15 - 10:00Registration 
 10:00 - 10:05Administrative announcements
 10:05 - 10:10

Welcoming Remarks

Richard Spillenkothen, Director, Division of Banking Supervision and Regulation, Board of Governors of the World Bank

  10:10 - 10:15

Opening Remarks

Alan Greenspan, Chairman, Board of Governors of the Federal Reserve System

 10:15 - 10:30

Group Photograph

 10:30 - 11:00

Coffee Break

 11:00 - 12:00

Session 1: International Financial Conglomerates- Benefits and Risks

Session Chair: Stefan Ingves, Director, Monetary and Financial Systems Department, IMF

Sarah J. DahlgrenSenior Vice President, Banking Supervision. Federal Reserve Bank of New York

Gianni de NicoloSenior Economist, Research Department International Monetary Fund

 12:15 - 14:00

Luncheon hosted by the Board of Governors of the Federal Reserve System

Keynote Speaker: Roger Ferguson, Vice Chairman of the Board of Governors of the Federal Reserve System and Chairman of the Financial Stability Forum

 14:00 - 15:00

Session 2:    International Financial Conglomerates- An Industry Perspective

Session Chair: Koos Timmermans, General Manager, Group Risk Management ING

Herman MulderSenior Executive Vice President, ABN AMRO

Todd ThomsonChairman and CEO, Global Wealth Management, Citigroup

 15:00 - 15:30

Coffee Break

 15:30 - 16:30

Session 3: The role of International Financial Conglomerates in Emerging Markets

Session Chair: Marilou Uy, Director, Financial Sector Operations and Policy Department, World Bank

Enrique Marshall, Superintendent of Banks of Chile ("Financial conglomerates and bank stability. The Chilean case")

Alvir Alberto HoffmannSenior Advisor to the Board of Directors, Central Bank of Brazil

 16:30 - 17:30

Session 4: International Financial Conglomerates in the International Financial Architecture

Session Chair: John Sloan, Member of the Joint Forum and Special Advisor at the Financial Services Authority, UK

Alessandro Iuppa, Chairman, Executive Committee, International Association of Insurance Supervisors (IAIS)

IOSCO Representative

 17:30 - 19:00Reception hosted by the Federal Reserve Board - Terrace level Room D

 

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 DAY 2:  Thursday, June 2, 2005

Executive Board Room, MC 13 -121, World Bank, 1818 H Street, N.W., Washington, D.C.

 9:00 - 10:00

Session 5: Issues in Supervision of International Financial Conglomerates

Session Chair: Richard Spillenkothen, Director, Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System

Jan Brockmeijer, Deputy Director of Banking Supervision, the Netherlands Bank

Danièle NouyVice-Chairman of the Committee of European Bank Supervisors (CEBS) and Head of the Secrétariat Général, French Banking Commission

 10:00 - 10:30 Coffee Break
 11:00 - 11:30

Session 6: Dealing with Distress in International Financial Conglomerates

Session Chair: James Clouse, Deputy Associate Director, Division of Monetary Affairs, Board of Governors of the Federal Reserve System

Erwin NieropDeputy General Counsel, European Central Bank

Tomas Huertas, Director, Wholesale Firms Division, Financial Services Authority, UK

Richard HerringDirector and Jacob Safra Professor of International Banking, Joseph H. Lauder Institute of Management & International Studies, Wharton School, University of Pennsylvania

 11:30 - 12:30 

Session 7: Cross Border Supervisory Issues

Session Chair: Cesare Calari, Financial Sector Vice-President, the World Bank

Greg Brunner, General Manager, Policy Development, Australian Prudential Regulatory Authority

Douglas W. Roeder, Senior Deputy Comptroller, Office of the Comptroller of the Currency, USA

William Ryback, Deputy Chief Executive, Hong Kong Monetary Authority

 12:30 - 14:30 

Luncheon Hosted by the IMF - IMF Gallery

Keynote Speaker: Rodrigo Rato, Managing Director, International Monetary Fund

 14:30 - 15:30Session 8: International Financial Conglomerates - Selected Issues

Breakout Groups

Participants will choose from among the following topics to discuss the challenges in their countries and to share experiences:

· Risks and benefits of international financial conglomerates: Country Experiences

Moderator: Jan Willem van der Vossen, Advisor, Monetary and Financial Systems Department of the International Monetary Fund

· Dealing with distress and insolvency in international financial conglomerates: Country experiences

Moderator: Ernesto Aguirre, Advisor, Financial Sector Operations and Policy Department of the World Bank

· Cross border cooperation in supervision of international financial conglomerates: Country experiences

Moderator: Deborah Bailey, Associate Director, Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System.

 15:30 - 16:00

Coffee Break

 16:00 - 17:30

Session 9: Reports from Breakout Groups andGeneral Discussion

Chair: Jonathan Fiechter, Deputy Director, Monetary and Financial Systems Department, International Monetary Fund

- Reports from the break out groups’ moderators.

- Open discussion

 18:00 - 19:30Reception hosted by the World Bank, MC Gallery

 

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  DAY 3: Friday, June 3, 2005   

Executive Board Room, MC 13 -121, World Bank, 1818 H Street, N.W., Washington, D.C.

 9:00 - 10:00

Session 10: Financial Disclosure by International Financial Conglomerates

Session Chair: Fayezul Choudhury, Vice President and Controller, The World Bank

Gerald Edwards,   Associate Director and Chief Accountant, Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System

Russell PicotGroup Chief Accounting Officer, HSBC

 10:00 - 10:30

Coffee Break

 10:30 - 12:00

Session 11: Round Table: Lessons Drawn from the Conference; General Discussion; Closing remarks;

Panel Chair: Gerard Caprio, Sector Director, Financial Sector Operations and Policy Department, World Bank Panel members:

Jonathan Fiechter, Deputy Director, Monetary and Financial Systems Department, IMF

Danièle Nouy, Vice-Chairman of the Committee of European Bank Supervisors (CEBS) and Head of the Secrétariat Général, French Banking Commission

Tarisa Watanagase, Deputy Governor, Bank of Thailand

 

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