Event Highlight

Next Steps for Macroprudential Policy

Posted Nov 20 2019

November 12, 2015 | Italian Academy, Columbia University

Introductory Remarks

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)

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)

The Challenges of Macro Prudential Regulations for Management and Governance

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)

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)