November 6–7, 2014
In collaboration with the Bank of England, the Federal Reserve Bank of Chicago will hold its annual International Banking Conference on November 6–7, 2014, at the Bank. The purpose of the conference is to address important current issues affecting international financial markets. This year, we will examine the state of the new global financial system as it has evolved in response to significant market changes and regulatory reforms triggered by the recent global financial crisis.
The global regulatory system has changed significantly since the Great Recession as both national and international regulators attempted to address perceived problems with the previous regulatory framework. Given these modifications, where are we? Have we gone too far and overregulated the industry? Have we made such significant adjustments to the regulatory framework and distorted market behavior, resulting in an adverse impact on the financial system’s ability to allocate credit and provide adequate liquidity to markets—thus having an adverse impact on the real economy? Have we relied too much on rules and supervisory oversight, and too little on market forces and oversight?
Alternatively, has reform been judiciously applied? Is the current environment much closer to the optimal one as a result of the recent reforms? Finally, has reform still failed to address the relevant problems that induced the financial crisis? Have we tightened down on the banking sector, and simply pushed problems to the less regulated shadow banking sector? Are too-big-to-fail banks still a significant problem in spite of efforts to improve on the failure resolution process? Is still more industry scrutiny needed?
Analyzing these issues will be the focus of discussion over the two day conference. More specifically, the topics considered include identifying how oversight and regulation of the banking sector and capital markets has changed; evaluating the reforms that were put in place; considering changes to the failure resolution process for systemically important financial institutions; analyzing the banking sector’s and capital market’s resulting ability to satisfy market needs; As the industry morphs into the new regulatory framework, have the major concerns coming out of the Great Recession been adequately addressed, or are additional adjustments still necessary?
These topics and more will be discussed by international experts in each area from different professions and countries. In addition to these experts we are fortunate to have three very qualified keynote speakers that have each made significant public policy contributions and have advocated regulatory modifications in response to the financial events of recent years.
Jerome H. Powell, Governor, Federal Reserve System; and former Undersecretary of the U.S. Treasury
Stefan Ingves, Governor, Sveriges Riksbank (Central Bank of Sweden); and Chairman of the Basel Committee on Banking Supervision
Alan Blinder, Professor, Princeton University; and former Vice Chairman of the Board of Governors of the Federal Reserve System
The make-up of the audience will be internationally diverse. In past years, representatives from some 35 countries have typically participated with a wide range of backgrounds, including policymakers, regulators, practitioners, academics and researchers. The audience is also encouraged to actively participate in the discussions. We hope that you can join us to evaluate the current state of the global financial system to achieve a better understanding of its strengths and weaknesses. Additional information, including registration information, local accommodations and the full program can be found at the above links on this page. For additional information contact Sandy Schneider via email, or members of the program committee.
Registration Fees: There is an early-bird fee of $650 for those who register on or before October 17, 2014. For those registering between October 17 and November 6, 2014, the fee will be $700.