Global Financial Crises: Lessons from Recent Events
Cosponsored by the Bank for International Settlements and the Federal Reserve Bank of Chicago.
Third Annual International Banking Conference
Global Financial Crises: Lessons from Recent Events
09/30/99
5:00 PM
Welcoming Remarks
William C. Hunter, Senior Vice President and Director of Research, Federal Reserve Bank of Chicago
Michael H. Moskow, President and Chief Executive Officer, Federal Reserve Bank of Chicago
Session 1: Review of Recent Financial Crises
Moderator
Stefan Ingves, International Monetary Fund
Panelists
Ricardo Hausmann, Inter-American Development Bank
Masayuki Matsushima, Bank of Japan
Mark C. Medish, U.S. Department of the Treasury
Pekka Sutela, Bank of Finland
Session 2: Review of Policy Responses
Moderator
Leo Melamed, Sakura Dellsher, Inc., and Chicago Mercantile Exchange
Panelists
Michael Mussa, International Monetary Fund
Joseph E. Stiglitz, World Bank
Edwin M. Truman, U.S. Department of the Treasury
John Hawkins, Bank for International Settlements
Discussant
Anna J. Schwartz, National Bureau of Economic Research
Dinner
Introduction
Robert J. Darnall, President and Chief Executive Officer, Ispat North America Inc.
Keynote
Andrew Crockett, General Manager, Bank for International Settlements
10/01/99
Session 3: What Have We Learned from the Crises and Policy Responses?
Moderator
Karen H. Johnson, Board of Governors of the Federal Reserve System
Panelists
Sebastian Edwards, University of California at Los Angeles
Ronald I. McKinnon, Stanford University
William R. White, Bank for International Settlements
Discussants
Robert Z. Aliber, University of Chicago
Kihwan Kim, Media Valley, Incorporated, Korea
Session 4: Redesign of Capital Regulations
Moderator
Joseph R. Bisignano, Bank for International Settlements
Panelists
Robert E. Litan, Brookings Institution
Danièle Nouy, Basel Committee on Banking Supervision
H. Onno Ruding, Citibank
Discussants
Michel Crouhy, Canadian Imperial Bank of Commerce
Martin Hellwig, University of Mannheim, Germany
Ryozo Himino, Financial Supervisory Agency, Japan
Lunch
Introduction
Verne G. Istock, Chairman, Bank One Corporation
Keynote
Laurence H. Meyer, Board of Governors of the Federal Reserve System
Session 5: Deposit Insurance Reform and Moral Hazard and Agency Problems
Moderator
David D. Hale, Zurich Group
Panelists
Peter M. Garber, Deutsche Bank, London
Frederic S. Mishkin, Columbia University
Jean-Charles Rochet, Toulouse University, France
Discussants
Gerard Caprio, Jr., World Bank
Guillermo J. Escudé, Central Bank of Argentina
Session 6: Nonbank Financial Institutions, Too Big to Fail and State Ownership
Moderator
William C. Hunter, Federal Reserve Bank of Chicago
Panelists
Thomas M. Hoenig, Federal Reserve Bank of Kansas City
Simon Johnson, Massachusetts Institute of Technology
David A. Lipton, Moore Capital Management
Charles M. Lucas, American International Group, Inc.
Dinner
Introduction
Michael H. Moskow, President, Federal Reserve Bank of Chicago
Keynote
William J. McDonough, President, Federal Reserve Bank of New York
10/02/99
Session 7: Role of Supervision and Regulation
Moderator
John J. Wixted, Jr., Federal Reserve Bank of Chicago
Panelists
Paul Cantor, Toronto International Leadership Center for Financial Sector Supervision
Huw Evans, Financial Services Authority, United Kingdom
Brian Gray, Australian Prudential Regulation Authority
Alejandro Reynoso del Valle, Banco de México
Richard Spillenkothen, Board of Governors of the Federal Reserve System
Session 8: Future of Official International Organizations
Moderator
George G. Kaufman, Loyola University Chicago and the Federal Reserve Bank of Chicago
Panelists
John Eatwell, Cambridge University, United Kingdom
Morris Goldstein, Institute for International Settlements
André Icard, Bank for International Settlements
Raymond F. Mikesell, University of Oregon
Jürgen Stark, Deutsche Bundesbank, Germany
Thomas D. Wilett, Claremont Graduate University and Claremont McKenna College
Conference Summary and Closing Remarks
Randall S. Kroszner, University of Chicago and the Federal Reserve Bank of Chicago
George G. Kaufman, Loyola University Chicago and the Federal Reserve Bank of Chicago
