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

The current state of reforming bank structures
Mario Nava, European Commission
Presentation (PDF 0.24 MB)

Regulatory and resolution measures needed to foster market discipline
Jukka Vesala, Finnish Financial Supervisory Authority
Presentation (PDF 0.30 MB)
Paper (PDF 0.06 MB)

10:00​ Coffee break
Session2​ 10:30 Research on bank business models

Chair: Ernest Gnan, Oesterreichische National Bank and SUERF

A century of firm – Bank relationships: Did banking sector deregulation spur firms to add banks and borrow more?
Steven Ongena
, Tillburg University
Presentation (PDF 3.34 MB)
Paper (PDF 0.24 MB)

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

Banking Reform and Macroprudential Regulation: Implications for banks' capital structure and credit conditions
Paul Tucker, Bank of England
Speech

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

 

Registration

Accommodation

The Bank of Finland has made a block reservation for hotel accommodation at the Hotel Scandic Grand Marina and will inform the hotel of your accommodation needs based on the registration form. Standard single rooms are available for €146 per night (doubles €166 per night) including breakfast and VAT for the period 12.6.-14.6.2013. Other rates may apply for rooms booked either side of these dates.
 

Further information 

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