Macroprudential Supervision Conference: Challenges for Financial Supervisors
Korea Financial Supervisory Commission/Financial Supervisory Service
International Monetary Fund
Seoul (Grand Hyatt)
November 7–8, 2006
International Monetary Fund
Seoul (Grand Hyatt)
November 7–8, 2006
The trend towards macroprudential supervision reflects an increasing recognition by financial supervisors worldwide that supervision at the individual firm level is not sufficient to safeguard the soundness of the financial system as a whole. The conference gave participants an opportunity to meet and hear from internationally recognized experts on macroprudential supervision, in sessions on concepts, methods of analysis, and country case studies.
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PROGRAM
| Tuesday, November 7, 2006 | |
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| 8:30 a.m.–9:30 a.m. | Registration/Welcome Coffee |
| 9:30 a.m.–10:00 a.m. | Opening Remarks |
| Yoon Jeung-Hyun, Chairman/Governor, FSC/FSS Tomás Baliño, Deputy Director, Monetary and Capital Markets Department, International Monetary Fund |
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| Session 1 | Financial Stability |
| Chair: Dr. John Laker, Chairman, Australian Prudential Regulation Authority | |
| 10:00 a.m.–10:30 a.m. | Factors Affecting Financial Stability |
| Alexandre Tombini, Deputy Governor, Central Bank of Brazil | |
| 10:30 a.m.–11:00 a.m. | A Macroprudential Approach to Financial Supervision and Regulation: Conceptual and Operational Issues |
| Yung Chul Park, Professor, Seoul National University | |
| 11:00 a.m.–11:20 a.m. | Coffee Break |
| 11:20 a.m.– 11:50 a.m. | Financial Sector Analysis: Lessons from the FSAP |
| Tomás Baliño, Deputy Director, Monetary and Capital Markets Department, International Monetary Fund | |
| 11:50 a.m.– 12:20 p.m. | Discussion |
| John Fell, Head of Financial Stability Division, European Central Bank Yong-Ro Yun, Standing Commissioner, Securities and Futures Commission Tae-Kyun Kwon, Commissioner, Korea Financial Intelligence Unit, Ministry of Finance and Economy |
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| 12:20 p.m.–2:00 p.m. | Lunch (all participants) Luncheon Address Seongtae Lee, Governor, Bank of Korea |
| Session 2 | Approaches to Macroprudential Supervision |
| Chair: Yung Chul Park, Professor, Graduate School of International Studies, Seoul National University; Former Chairman, Public Fund Oversight Committee | |
| 2:30 p.m.–3:00 p.m. | Elements of Macroprudential Supervision |
| William Ryback, Deputy Chief Executive and Head of Supervision, Hong Kong Monetary Authority | |
| 3:00 p.m.–3:30 p.m. | Perspective on Macroprudential Supervision from Individual Financial Institutions |
| Chang-Lok Kim, Governor, Korea Development Bank | |
| 3:30 p.m.–4:10 p.m. | Coffee Break |
| 4:10 p.m.–4:40 p.m. | Institutional Arrangements for Macroprudential Supervision in European Countries |
| Donato Masciandaro, Professor, Bocconi University, Milan | |
| 4:40 p.m.–5:30 p.m. | Discussion |
| John Laker, Chairman, Australian Prudential Regulation Authority Tomás Baliño, Deputy Director, IMF Alicia García-Herrero, Senior Economist, BIS Dae Yeung Jeung, Director General, the Bank of Korea Sangche Lee, Senior Counselor, FSC |
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| 6:00 p.m.–6:30 p.m | Cocktail (all participants) |
| 6:30 p.m.–8:30 p.m. | Welcome Reception (all participants) |
| Okyu Kwon, Deputy Prime Minister, Minister of Finance and Economy | |
| Wednesday, November 8, 2006 | |
| Session 3 | Stress Testing |
| Chair: Sir Callum McCarthy, Chairman, Financial Services Authority, United Kingdom | |
| 9:00 a.m.–9:30 a.m. | Overview of Stress Testing Methodologies: From Micro to Macro |
| John Fell, Head of Financial Stability Division, European Central Bank | |
| 9:30 a.m.–10:00 a.m. | Stress-Testing on Credit Risk |
| Pierre-Yves Thoraval, Deputy Secretary General, French Banking Commission | |
| 10:00 a.m.–10:30 a.m. | Stress Testing Market Risks and Derivatives Portfolios |
| Gerald Krenn, Austrian National Bank | |
| 10:30 a.m.–11:00 a.m. | Coffee Break |
| 11:00 a.m.–11:30 a.m. | Operational Risk |
| Ali Samad-Khan, President, OpRisk Advisory LLC | |
| 11:30 a.m.–12:00 p.m. | Pillar 2 Challenges |
| Paul Kupiec, Co-Director, U. S. Federal Deposit Insurance Corporation | |
| 12:00 p.m.–12:30 p.m. | Discussion |
| William Ryback, Deputy Chief Executive,Hong Kong Monetary Authority Karl Habermeier, Advisor/Area Chief, IMF Hyosoon Choi, Director General, Korea Deposit Insurance Corporation Myung-Jig Kim, Professor, Hanyang University |
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| 12:30 p.m.–2:00 p.m. | Lunch (all participants) Luncheon Address |
| Chung Won Kang, President and CEO, Kookmin Bank | |
| Session 4 | Case Studies in Macroprudential Supervision |
| Chair: William Ryback, Deputy Chief Executive and Head of Supervision, Hong Kong Monetary Authority | |
| 2:30 p.m.–3:00 p.m.. | Macroprudential Supervision in Korea |
| Jang Yung Lee, Assistant Governor, Korea Financial Supervisory Service | |
| 3:00 p.m.–3:30 p.m. | Financial Stability Analysis in Japan |
| Toshiyuki Miyoshi, Director for International Banking Regulations, Japan Financial Services Agency | |
| 3:30 p.m.–4:00 p.m. | Financial Stability Analysis in the UK |
| Sir Callum McCarthy, Chairman, United Kingdom Financial Services Authority | |
| 4:00 p.m.–4:30 p.m. | Coffee Break |
| 4:30 p.m.–5:00 p.m. | Micro and Macroprudential Perspectives: The Australian Experience |
| Dr. John Laker, Chairman, Australian Prudential Regulation Authority | |
| 5:00 p.m.–5:30 p.m. | Discussion |
| Meral Karasulu, Resident Representative in Korea, IMF Donato Masciandaro, Professor, Bocconi University Gongpil Choi, Senior Advisor, FRB of San Francisco |
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| 7:00 p.m.–9:00 p.m. | Cocktails and Dinner (Speakers & VIPs only) |
| Jeung-Hyun Yoon, Chairman/Governor, Financial Supervisory Commission/Financial Supervisory Service |
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