Programme

Scientific programme

MONDAY, MAY 18

12.00 Registration and lunch

13:00 Paper presentations

13:00 John Kuong, INSEAD
“Self-fulfilling Fire Sales: Fragility of Collateralised Short-term Debt Markets”
Discussant: Jungsuk Han, Stockholm School of Economics and Swedish House Of Finance

14:00 Benjamin Guin, University of St.Gallen (with Martin Brown and Stefan Morkoetter)
“Deposit Withdrawals from Distressed Commercial Banks”
Discussant: Marieke Bos, Stockholm University and Swedish House Of Finance

15:00 Coffee

15:30 Stephan Luck and Paul Schempp, Max Planck Institute for Research on Collective Goods (Bonn)
“Banks, Shadow Banking, and Fragility”
Discussant: Christoph Bertsch, The Riksbank

16:30 Falko Fecht, Frankfurt School of Finance and Management (with Stefan Reitz and Patrick Weber)
“Strains on money market makers and money market tensions”
Discussant: Björn Hagströmer, Stockholm University

17:30 End of day

19:00 Dinner at Clarion sign

Tuesday, May 19

08:30 Rodney Ramcharan, Federal Reserve Board (with Efraim Benmelech and Ralf Meisenzahl)
“The Real Effects of Liquidity during the Financial Crisis: Evidence from Automobiles”
Discussant: Bo Becker, Stockholm School of Economics and Swedish House of Finance

09:30 Bo Becker, Stockholm School of Economics and Swedish House of Finance (with Marieke Bos and Kasper Roszbach)
“Bad times, good credit”
Discussant: Hamid Boustanifar, BI Norwegian Business School.

10:30 Coffee

11:00 Lev Ratnovski, IMF (with Giovanni dell’Arriccia)
“Bailouts and Systemic Insurance”
Discussant: Martin Hellwig, Max-Planck-Institute for Research on Collective Goods

12:00 End of scientific conference

Main programme

Tuesday, May 19, 12.00 – 17.00

11.30 Registration

12.00 Lunch 

13:00 Welcome and opening remarks

Image of Hans Lindblad, Director General, SwedishNational Debt Office.

Hans Lindblad, Director General, Swedish National Debt Office

A new crisis management regime

Stefan Ingves, Governor, Sveriges Riksbank, Photo

Stefan Ingves, Governor, Sveriges Riksbank

Introduction to the Financial Safety Net Conference


14:00 SESSION 1: FINANCIAL CRISES IN PERSPECTIVE

Photo of Anders Borg, World Economic Forum and former Swedish Minister of Finance

Anders Borg, World Economic Forum and former Swedish Minister of Finance

Past crises and future framework for financial stability

Martin Hellwig

Martin Hellwig, Director, Max-Planck-Institute for Research on Collective Goods and Vice Chair of Advisory Scientific Committee of the ESRB

The next crisis will come for sure: What can we do about it?

 Photo of Lars Frisell, Advisor to the Governor, Central Bank of Ireland

Lars Frisell, Advisor to the Governor, Central Bank of Ireland

Resolution of the Irish banking crisis: Hard-earned lessons for Europe

Moderator: Pehr Wissén, Director, Institute for Financial Research


15:20 Coffee

15:40 SESSION 2: RECOVERY AND RESOLUTION PLANNING 

Image of Eva Hupkes, Adviser on Regulatory Policy and Cooperation, Financial Stability Board.

Defining the framework

Eva Hupkes, Adviser on Regulatory Policy and Cooperation, Financial Stability Board

Image of Christian Clausen, President and Group Chief Executive Officer at Nordea.

Recovery planning for a G-SIFI from a bank’s point of view

Christian Clausen, President and Group CEO, Nordea

Photo of Andrew Gracie, Director, Special Resolution Unit, Bank of England Resolution planning in practice

Andrew Gracie, Executive Director, Resolution Directorate, Bank of England

Moderator: Lars Hörngren, Chief Economist, Swedish National Debt Office

 


17:00 End of day

19:00 Dinner at Moderna Museet

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Wednesday, May 20, 09.00 – 17.30

09:00 SESSION 3: BANK RESOLUTION – CASE STUDIES

Photo of David Ereira, Partner, Linklaters London.

The Lehman Brothers experience – what are the lessons that can be learned?

David Ereira, Partner, Linklaters London

Pedro Duarte Neves, photo

The Resolution of Banco Espírito Santo

Pedro Duarte Neves, Vice-Governor, Banco de Portugal

Ceyla Pazarbasioglu, Photo

How do the policy choices in the current crisis compare to those made in past crises?

Ceyla Pazarbasioglu, Deputy Director in the Monetary and Capital Markets Department, IMF

Moderator: Bo Lundgren, Former Swedish Minister for Fiscal and Financial Affairs


10:20 Coffee

10:40 SESSION 4: INTRODUCING BAIL-IN

Wilson Ervin, Vice Chairman at Credit Suisse, Photo

Bail-in:  Origins, Principles and Market Implications

Wilson Ervin, Vice Chairman at Credit Suisse

George G. Pennacchi, Photo

Re-establishing market discipline and reducing tax-payers burden – will bail-in do the job?

George G. Pennacchi, IBE Professor of Finance, University of Illinois

Photo of Charles Gray

Making bail-in operational

Charles Gray, Vice President, Financial Institution Supervision Group, Federal Reserve Bank of New York

Moderator: Peter Englund, Professor, Stockholm School of Economics

 


12:00 Lunch

13:00 SESSION 5: CROSS-BORDER RECOVERY AND RESOLUTION

Resolution in the eurozone

Dr. Elke König, Chairwoman of the Single Resolution Board

Images of Arnoud Boot - professor of Corporate Finance and Financial Markets

Crisis management in a cross-border perspective

Arnoud Boot, professor of Corporate Finance and Financial Markets, University of Amsterdam

Photo of Martin Noréus, Acting Director General at Finansinspektionen

The Nordic/Baltic perspective

Martin Noréus, Acting Director General, Swedish FSA

Moderator: Göran Lind, Senior Advisor, Sveriges Riksbank 


14:20 Coffee

14:45 SESSION 6: RESOLUTION OF NON-SYSTEMIC BANKS 

Image of Gail Verley, Secretary General, International Association of Deposit Insurers.

Global Overview of Resolution Tools – A Focus on Purchase and Assumption

Gail Verley, Secretary General, International Association of Deposit Insurers

Image of Jesper Rangvid, Professor, Copenhagen Business School, and former Chair of the Danish Financial Crisis Committee

The Danish experience: Why did more than a third of banks disappear and how was it handled

Jesper Rangvid, Professor, Copenhagen Business School, and former Chair of the Danish Financial Crisis Committee

Moderator: Bo Becker, Professor, Stockholm School of Economics


15:45 Break

16:00 SESSION 7: NON-BANK RECOVERY AND RESOLUTION

Image, Patrick Montagner

Insurance

Patrick Montagner, Deputy secretary general, ACPR and Chair of the FSB Insurance Cross Border Crisis Management Group

Klaus Löber, Photo

Financial infrastructure recovery and resolution

Klaus Löber, Head of CPMI Secretariat at Bank for International Settlements

Moderator: Jens Henriksson, CEO and President, Folksam


17:00 CLOSING REMARKS

Image of Lars Hörngren, Chief Economist Swedish National Debt Office.

Lars Hörngren, Chief Economist, Swedish National Debt Office

End of conference