Finance and Society Conference 2012 - Materials

Addressing fragility and effectiveness of the financial system

27 March 2012

Slides and presentations from the conference are available for download below. All materials are provided with permission from the speakers, who retain copyright to the content. Videos and a written summary will be posted here in a few days.

GALERIES
26 Galerie de la Reine
1000 Bruxelles

View map

Programme

8.30am Registration opens

8.55am Welcome Thierry Philipponnat, Secretary General of Finance Watch

9am Session 1 The relationship between finance and society - moderated by Peter Thal-Larsen

Keynote 1 - Targeting bank subsidies Martin Wolf - View slides - View Video

(We apologise for the poor sound quality in the first 90 seconds of Martin Wolf's speech)

Targeting bank subsidies by Martin Wolf from Pokitin on Vimeo.

Keynote 2 - The Volcker Rule and structural issues Dennis Kelleher - View slides - View Video

The Volcker Rule and structural issues Dennis Kelleher from Pokitin on Vimeo.

Panel - Regulation and the role of banks in the economy Martin Wolf, Dennis Kelleher, Gerald Epstein, Frédéric Oudéa - View slides

  • The social role of banks and capital markets / The changing relationship between finance and society / Bank structure and public subsidies / Challenges to financial capitalism / Do current regulations help or hinder the finance sector’s economic and social contribution / Good vs bad innovation

11am Session 2 The impact on society of higher bank capital requirements - moderated by John Rega

Lecture 1 – Capital requirements and deleveraging Andrea Enria - View Video

Capital requirements and deleveraging by Andrea Enria from Pokitin on Vimeo.

Lecture 2 - Why bank equity is not expensive Anat Admati - View slides - View Video

Why bank equity is not expensive by Anat Admati from Pokitin on Vimeo.

Panel - What do higher capital requirements mean for society? Andrea Enria, Anat Admati, Jacques de Larosière, Gernot Mittendorfer

  • Impact on growth / Impact on the supply, price and allocation of credit / Impact on taxpayers / How investors view high bank leverage / Pro-cyclical effects / Impact on bank business models and risk taking / Socially optimal capital / Regulatory measures to supplement higher CARs / Lessons for CRD4

12.30 Buffet lunch

2pm Session 3 Regulating for risk and fragility - moderated by Nikki Tait

Lecture 1 - Regulation and Risk Martin Hellwig - View slides - View Video

Regulation and Risk by Martin Hellwig from Pokitin on Vimeo.

Lecture 2 – Risk-based capital requirements James Ferguson - View slides - View Video

Risk-based capital requirements by James Ferguson from Pokitin on Vimeo.

Panel - Is the risk-based approach optimal? What are the side-effects and what are the alternatives? Martin Hellwig, James Ferguson, Charles Haswell, Mario Nava - View speech

  • Effects on bank behaviour / Regulatory arbitrage / Systemic fragility / Macro-prudential implications / Macro-economic implications / Who should assess risk / Alternative approaches / Transparency for investors / Unintended consequences / Lessons since Basel I / The next Basel accord

4pm Session 4 The governance of international financial regulation - moderated by Michael Robinson

Lecture 1 - The political economy of financial misregulation: loose ends in capital regulation Ed Kane - View slides - View Video

Lecture 2 - International regulation and accountability Paul Sharma - View slides - View Video

Panel - Is financial regulation too complex to be democratically accountable? Ed Kane, Paul Sharma, Dennis Kelleher, Guido Ravoet

  • Regulatory accountability / Public and private interests / Lobbying and capture / How to improve accountability / Lessons for Europe from the US

5.30pm Closing keynote address – Michel Barnier - View speech - View Video

Conclusion and Cocktails

Chatham House rules will apply to panel discussions only. This is a non-commercial event with no delegate or speaker fees. Programme and speakers are subject to change.

Speakers