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The Magyar Nemzeti Bank (MNB, The Central Bank of Hungary) and the Official Monetary and Financial Institutions Forum (OMFIF) will jointly organize the macroprudential conference titled „Financial Stability Analysis: New Challenges and Focuses”. This conference aims to bring together researchers and policymakers from around the world providing insights across the board on topics of financial stability that have become increasingly formative in recent years. The programme is going to cover the following in five sessions including keynote lectures, round table discussions and presentation of research papers:

· Outlooks for macroprudential policy implicated by the pandemic and the post-COVID financial landscape

· Introduction of central bank digital currencies and its impact on financial intermediation, financial stability and the macroeconomy

· Recent advances in macroprudential and system-wide stress testing, contagion analysis and their application for macroprudential measure calibration

· Sustainable finance and implications of climate change in financial risk analysis

· Bank business model transformation and financial stability consequences

The conference’s keynote speaker will be Mr Tobias Adrian, the Financial Counsellor and Director of the IMF's Monetary and Capital Markets Department.

The MNB invites the submissions of both theoretical and empirical papers that could be instructive for risk analysis and policy making for two fields of interest: 1. macroprudential stress testing 2. sustainable finance and the implications of climate change. For more details, please see the Call for Papers.

The conference will be held in a hybrid format, participants are invited to attend the event in person up to a limited number of participants or to follow it online.

For further information please contact: finstabconference@mnb.hu


Conference venue: Budapest, MNB Buda HQ (Krisztina krt 55.), conference hall & online 26-27 May 2022

Preliminary Agenda

26 May 2022

Time Session
9:30 – 9:45 Welcome address by the Governor of the MNB & OMFIF
9:45- 10:30 International Keynote speech
Tobias Adrian, IMF
10:30- 11:40 Short- and long-term effects of the Russia-Ukraine crisis on financial stability with a focus on the CEE region
Keynote speaker: Jon Danielsson (Systemic Risk Centre)
Moderator: Barnabás Virág (MNB)
Panellists: Jon Danielsson (Systemic Risk Centre), Ajay Rawal (EY), Paweł Szałamacha (NBP)
11:40 – 11:50 Coffee break
11:50 – 13:10 New aspects of financial stability analysis and macroprudential policy implicated by COVID-19
Keynote speaker: Javier Suarez (CEMFI)
Moderator: Javier Suarez (CEMFI)
Panellists: Elena Carletti (Bocconi University), Stijn Claessens (BIS), Jan Frait (CNB)
13:10 - 14:10 Lunch
14:10 – 15:40 Introduction of central bank digital currencies and its impact on financial intermediation, financial stability and the macroeconomy
Keynote speaker: Kimmo Soramäki (FNA)
Moderator: David Marsh (OMFIF)
Panellists: Tanja Heßdörfer (G+D), Kimmo Soramäki (FNA), Ruth Wandhöfer (PSR)
15:40 – 16:00 Coffee break
16:00 - 17:30 Recent advances in macroprudential and system-wide stress testing, contagion analysis and their application for macroprudential measure calibration - Christoffer Kok
Keynote speaker: Christoffer Kok (ECB)
Presenters: Antoine Bouveret (ESMA), Matthias Sydow (ECB)
Evening Informal event

27 May 2022

Time Session
10:00 - 10:30 MNB Keynote Speech – Banks in the nick of time - Gergely Fábián
10:30 - 12:00 Sustainable finance and implications of climate change in financial risk analysis
Keynote speaker: Irene Monasterolo (EDHEC)
Presenters: Hugh Miller (LSE), Remco van der Molen (DNB)
12:00 – 13:00 Lunch
13:00 - 14:10 Implications of climate change in financial risk analysis and policies
Moderator: Paul Hiebert (ECB)
Panellists: David Carlin (UNEP-FI), Gábor Gyura (consultant for the UN), Wang Xin (PBC)
14:10 – 15:40 Bank business model transformation and financial stability consequences I.
Over-regulation, optimal simplicity, interactions between prudential instruments
Keynote speaker: David Aikman (KCL)
Moderator: David Aikman (KCL)
Panellists: Andrés Alonso (BdE), Prasanna Gai (UOA), Malcolm Kemp (Nematrian)
15:40 - 16:00 Coffee break
16:00 – 17:10 Bank business model transformation and financial stability consequences II.
Non-bank, shadow bank competitors and competing in technology; Financing the transition to knowledge economy
Keynote speaker: Sopnendu Mohanty (MAS)
Moderator: Sopnendu Mohanty (MAS)
Panellists: Gergely Gabler (IBCE), Jesper Berg (Danish FSA), Leonardo Gambacorta (BIS)
End of conference

List of confirmed speakers

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Tobias Adrian

Financial Counsellor and Director of the IMF's Monetary and Capital Markets Department

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David Aikman

Director of the Qatar Centre for Global Banking and Finance, and Professor in the Practice of Finance

King’s Business School, King’s College London

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Andres Alonso

Senior Economist, Financial Innovation Division

Banco de España

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Jesper Berg

Director General, Finanstilsynet

Danish Financial Supervisory Authority

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Elena Carletti

Professor of Finance, Bocconi University

Member of the Advisory Scientific Committee of the ESRB and Board Member, Unicredit Spa

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David Carlin

Climate Risk Lead

UNEP-FI

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Stijn Claessens

Head of Financial Stability Policy

BIS

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Jon Danielsson

Director of the Systemic Risk Centre

London School of Economics

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Gergely Fábián

Executive Director for Financial System Analysis and Statistics

Magyar Nemzeti Bank CEO, Budapest Institute of Banking

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Jan Frait

Executive Director for Financial Stability

Česká národní banka (Czech National Bank)

Gergely Gabler

Gergely Gabler

Deputy CEO, Interactive Brokers Central Europe

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Prasanna Gai

Professor of Macroeconomics, University of Auckland, Head of the Department of Economics, and Member of the Board, New Zealand Financial Markets Authority

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Gábor Gyura

Sustainable finance consultant, Former Head of Sustainable Finance Department of MNB

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Tanja Heßdörfer

Director Business Development Central Bank Digital Currency, Giesecke+Devrient

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Paul Hiebert

Head of Division, SRF (Systemic Risk & Financial Institutions)

European Central Bank

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Malcolm Kemp

FIA, CERA, Managing Director, Nematrian, Visiting Lecturer, Imperial College Business School, Chairperson of the Actuarial Association of Europe Risk Management Committee and Member of the ASC of the ESRB

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Christoffer Kok

Head of Stress Test Experts Division

European Central Bank

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Leonardo Gambacorta

Head of Innovation and the Digital Economy

BIS

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David Marsh

Chairman

OMFIF

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Sopnendu Mohanty

Chief Fintech Officer

Monetary Authority of Singapore

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Irene Monasterolo

Professor of Climate Finance

EDHEC Business School

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Ajay Rawal

Partner, EMEIA Financial Services Sector Leader

EY

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Kimmo Soramäki

Founder and CEO

FNA

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Javier Suarez

Professor of Finance

CEMFI

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Paweł Szałamacha

Member of the Management Board

Narodowy Bank Polski

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Barnabás Virág

Deputy Governor

Magyar Nemzeti Bank

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Ruth Wandhöfer

Industry Expert, Board Director

Chair Payment Systems Regulator Panel (UK)

Wang Xin

Wang Xin

Director General of the Research Bureau of the People’s Bank of China