Thursday, November 12, 2015 
Italian Academy, Columbia University

 

agenda

Thursday, November 12, 2015

9:00 am – 9:30 am

Introductory Remarks

  • Merit Janow, Dean, Columbia SIPA
  • Jordi Canals, Dean, IESE Business School

9:30 am – 11:00 am

Session 1: Macro Prudential Policy: Goals, Conflicts & Outcomes

Progress in developing a framework for designing macro prudential policy tools

  • Moderator: Takatoshi Ito, Columbia SIPA
  • Stijn Claessens, Senior Advisor. Federal Reserve Board (slides)
  • Jose Manual Campa, IESE and Global Head of Regulatory Affairs, Banco Santander (slides)
  • Sandra E. O’Connor, Chief Regulatory Officer, JP Morgan Chase & Co (slides)

11:00 am – 11:30 am

Break

11:30 am – 1:00 pm

Session 2: Stress Testing: Macro Prudential, Micro Prudential or Both?

What are the next steps for use of regulatory stress tests as a macro prudential tool?

  • Moderator: Charles Calomiris, Columbia SIPA and Graduate School of Business
  • Viral Acharya, NYU Stern School of Business (slides
  • Nellie Liang,  Director, Office of Financial Stability Policy and Research, FRB (slides)
  • Rafael Salinas, Chief Risk Officer, BBVA (slides)

1:00 pm – 2:45 pm

Lunch: The Challenges of Macro Prudential Regulations for Management and Governance

  • Moderator: Juan Jose Toribio, IESE Business School
  • Matt King, Global Head of Credit Strategy, Citigroup
  • Paco Ybarra, Global Head of Markets, Citigroup
  • Benjamin Hesse, J.P. Morgan Asset Management

3:00 pm – 5:00 pm

Session 3: Measuring the Effectiveness of Macro Prudential Policies Across Jurisdictions

Comparison of experiences designing and implementing macro prudential policies

  • Moderator: Guillermo Calvo, Columbia SIPA
  • Dong He, Deputy Director, Monetary and Capital Markets, IMF (slides)
  • Claudio Raddatz, Director of Financial Policy Division, Central Bank of Chile (slides)
  • Jean-Pierre Danthine, Columbia Graduate School of Business, former Vice Chair, Swiss National Bank (slides)
  • Ryozo Himino, Vice Commissioner for International Affairs, Japan FSA (slides)
  • Paulo Vieira de Cunha,  ICE Canyon LLC (slides)

5:00 pm

Closing Keynote Address

  • Mervyn King, Governor of Bank of England and Chairman of its Monetary Policy Committee (2003-2013), Professor of Economics and Law at NYU Stern School of Business (since 2014)

5:45 pm

Reception

6:30 pm

Conference Dinner

papers

 

Papers

Can Macroprudential Policy Make Global Finance Safer?

Sharon Kahn and Patricia C. Mosser

Macroprudential Policy: Goals, Conflicts, and Outcomes

Stijn Claessens
Federal Reserve Board

Macroprudential Policies in Emerging Markets

Paulo Vieira da Cunha

Macroprudential Policy In Switzerland: The First Lessons

Jean-Pierre Danthine
Paris School of Economics and CEPR

Policy Responses To Asset Price Bubbles In Japan And The U.S.: The Myth And The Reality

Ryozo Himino
Financial Services Agency, Japan

Macroprudential Policies, A View From Chile

Claudio Raddatz
Central Bank of Chile

Macroprudential Measures For Addressing Housing Sector Risks

Dong He, Erlend Nier, and Heedon Kang 
International Monetary Fund