24th Seminar on Financial Market Infrastructures

Bank of Finland Seminar on Financial Market Infrastructures

27-28 August 2026 in Helsinki, Finland

Preliminary Programme

(The programme is subject to change)

Thursday, 27 August
8:30	Registration
9:00	Welcome and Opening Remarks Kimmo Virolainen Advisor to the Board, Bank of Finland
9:15	Keynote Speech: From FMIs to DeFi and Back Again Maarten van Oordt Professor of Money and Banking, Vrije Universiteit Amsterdam
10:05	Assessing the Factors That Promote Adoption and Use of a CBDC Wallet: Evidence from Peru Marcos Cerón, Marcelo Paliza and Elmer Sánchez Central Reserve Bank of Peru
10:45	Break
11:00	Hidden by Complexity - How to Measure the Stablecoin, Crypto and Decentralised Finance Ecosystem? Timothy Aerts and Violeta Vuletic Bank for International Settlements Co-authors: Ronald Heijmans, Jan Paulick (Bank for International Settlements, De Nederlandsche Bank)
11:40	Making or Breaking the Peg? Predicting the Betelgeuse Moment of Stablecoins Ronald Heijmans De Nederlandsche Bank Co-authors: Maha Abbassia, Eleonora Basilicoa, Paul Graub, Frank Heijnen, Urszula Kochanskaa, Maria Cristina Molero Blazquez, Laura Painelli, Nico Salemans and Olivier Wolff (European Central Bank, Deutsche Bundesbank, De Nederlandsche Bank, Banco de Espana, Banca d’Italia)
12:20	Lunch
13:40	Enhancing RTGS Liquidity Efficiency Through Payment Pre‑Processing Tatu Laine Bank of Finland Co-authors: Kasperi Korpinen, Christopher McMahon, Mykhailo Moroz, Alex Ostrovsky, Jean-Paul Lam, Donald McGillivray and Thomas Lo (Bank of Finland, GoodLabs Studio, University of Waterloo)
14:20	Liquidity-saving-mechanism Efficiency in Security Settlement Systems Carlos Arango and Rocío Betancourt Central Bank of Colombia
15:00	Break
15:30	Payment Initiation and Transaction Costs Alistair Milne Loughborough University Co-authors: Ka Kei Chan, David Skeie (Loughborough University)
16:10	Cash Saves the Day: How Cash Infrastructure Enhances Resilience During a Card Payment System Outage Christoph Meyer Swiss National Bank Co-authors: Aurel Ruben Mäder, Yves Nacht, Daniel Gatica-Perez (Swiss National Bank)
16:50	Diffusion of Instant Payments in Switzerland Fabian Muny Swiss National Bank
17:30	Summary and Closing Remarks

Friday, 28 August
9:00	AI/ML Applications in Granular Payment System Data: Enhancing Macroeconomic Forecasting and Anomaly Detection in Financial Markets Fransiskus Xaverius Tyas Prasaja Bank Indonesia
9:40	Strategic Interactions of AI Agents in Payment Systems Janet Jiang Bank of Canada Co-authors: Furkan Danisman, Ajit Desai, Francisco Rivadeneyra and Talha Azad (Bank of Canada)
10:20	Break
10:50	The Safety Valve: A Comparative Stochastic Agent-Based Model of CBDC-Induced Bank Runs Under Geopolitical Shock in Finland, Germany, and Lithuania Martynas Rajuncius Bank of Lithuania
11:30	Settlement Liquidity in the Colombian Large-Value Payment System: The Role of Reserve Requirements Freddy Cepeda-Lopez Central Bank of Colombia Co-authors: Fredy Gamboa-Estrada and Javier Miguele (Central Bank of Colombia)
12:10	Lunch
13:10	The Cost of Stablecoins as Settlement Token: a Case Study Based on Ethereum Data Ioana Duca-Radu European Central Bank Co-authors: Massimo Ferrari Minesso, Gianluigi Lopardo (European Central Bank)
13:50	Signals Without Scale: Stablecoins and Retail Payments Ellen Naudts and Anneloes van Gent De Nederlandsche Bank
14:30	Closing Remarks
14:50	Seminar Concludes

Scientific committee: Anneke Kosse (Bank for International Settlements), Ronald Heijmans (De Nederlandsche Bank), Esa Jokivuolle (Bank of Finland), Tatu Laine (Bank of Finland) and Matti Hellqvist (Bank of Finland)

For inquiries, please contact Emma Nurmi (emma.nurmi@bof.fi).