Keynote address by the Governor of the Bank of Finland, Erkki Liikanen
In response to the global financial crisis and the large trading losses at many banks, the regulatory reform agenda to limit excesses in banks' risk taking and to make banks more easily resolvable has grown quite ambitious. The Euro crisis has also strengthened the need for an overhaul. In addition to the Basel III reform and the plans to create or strengthen resolution and recovery frameworks for banks, structural reforms have been adopted or proposed, led by the Liikanen Group, Vickers Report and Volcker Rule of the Dodd-Frank Act.
The aim of the regulatory reform agenda should be to improve banks' resilience and to correct for distorted risk-taking incentives, arising from explicit and implicit public safety nets. Prerequisites for stable long-term economic growth should hence be improved. However, significant short-term costs might be involved, arising from the transition and increased uncertainty as regards the final form of the reforms. What will bank business models ultimately look like? Will safety, economic efficiency and true risk-awareness actually improve?
Programme and presentation material
Last updated on August 5, 2013
| Wednesday, June 12, 2013 | ||
|---|---|---|
| Dinner | 19:30 | Conference Gala Dinner |
| | | Bank of Finland Banqueting Hall |
| Thursday, June 13, 2013 | ||
| Opening | 08:45 | Opening and welcome |
| | | Jouko Vilmunen, Head of Research, Bank of Finland Urs Birchler, SUERF and University of Zürich |
| Session1 | 09:00 | Opening and welcome |
| | |
Chair: Jouko Vilmunen, Bank of Finland |
| | 10:00 | Coffee break |
| Session2 | 10:30 | Research on bank business models |
| | |
Chair: Ernest Gnan, Oesterreichische National Bank and SUERF |
| | 11:15 | Keynote address I |
| | | Chair: Ernest Gnan, Oesterreichische National Bank and SUERF Guarding against systemic risk: the remaining agenda Alan Blinder, Princeton University Presentation (PDF 1.65 MB) Paper (PDF, 0.16 MB) |
| | 12:00 | Lunch |
| 13:30 | Invited speech | |
| | | Chair: Urs Birchler, SUERF and University of Zürich How much speculation is socially optimal? Jean-Charles Rochet, University of Zurich Presentation (PDF 4.84 MB) |
| 14:15 | Keynote address II | |
| | | Chair: Urs Birchler, SUERF and University of Zürich On the size and structure of the banking sector Erkki Liikanen, Governor, Bank of Finland Speech Presentation (PDF 0.35 MB) |
| | 15:00 | Coffee |
| 15:15 | Keynote address III | |
| | |
Chair: Seppo Honkapohja, Bank of Finland |
| Panel | 16:00 | The Future Banking Environment |
| | | Chair: David T. Llewellyn, Loughborough University and SUERF Andrea Enria, Chairman, European Banking Authority José Manuel Campa, IESE, and High Level Expert Group Hugo Bänziger, High Level Expert Group Member Philipp Hartmann, European Central Bank |
| | 17:30 | Closing words |
| End | 17:45 | End of conference |