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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
Tobias Adrian
Financial Counsellor and Director of the IMF's Monetary and Capital Markets Department
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
Andres Alonso
Senior Economist, Financial Innovation Division
Banco de España
Jesper Berg
Director General, Finanstilsynet
Danish Financial Supervisory Authority
Elena Carletti
Professor of Finance, Bocconi University
Member of the Advisory Scientific Committee of the ESRB and Board Member, Unicredit Spa
David Carlin
Climate Risk Lead
UNEP-FI
Stijn Claessens
Head of Financial Stability Policy
BIS
Jon Danielsson
Director of the Systemic Risk Centre
London School of Economics
Gergely Fábián
Executive Director for Financial System Analysis and Statistics
Magyar Nemzeti Bank CEO, Budapest Institute of Banking
Jan Frait
Executive Director for Financial Stability
Česká národní banka (Czech National Bank)
Gergely Gabler
Deputy CEO, Interactive Brokers Central Europe
Prasanna Gai
Professor of Macroeconomics, University of Auckland, Head of the Department of Economics, and Member of the Board, New Zealand Financial Markets Authority
Gábor Gyura
Sustainable finance consultant, Former Head of Sustainable Finance Department of MNB
Tanja Heßdörfer
Director Business Development Central Bank Digital Currency, Giesecke+Devrient
Paul Hiebert
Head of Division, SRF (Systemic Risk & Financial Institutions)
European Central Bank
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
Christoffer Kok
Head of Stress Test Experts Division
European Central Bank
Leonardo Gambacorta
Head of Innovation and the Digital Economy
BIS
David Marsh
Chairman
OMFIF
Sopnendu Mohanty
Chief Fintech Officer
Monetary Authority of Singapore
Irene Monasterolo
Professor of Climate Finance
EDHEC Business School
Ajay Rawal
Partner, EMEIA Financial Services Sector Leader
EY
Kimmo Soramäki
Founder and CEO
FNA
Javier Suarez
Professor of Finance
CEMFI
Paweł Szałamacha
Member of the Management Board
Narodowy Bank Polski
Barnabás Virág
Deputy Governor
Magyar Nemzeti Bank
Ruth Wandhöfer
Industry Expert, Board Director
Chair Payment Systems Regulator Panel (UK)
Wang Xin
Director General of the Research Bureau of the People’s Bank of China