Eighth Annual International Banking Conference

International Financial Instability: Cross-Border Banking and National Regulation

Cosponsored by the Federal Reserve Bank of Chicago and the World Bank.
 

In conjunction with the International Association of Deposit Insurers, the Federal Reserve Bank of Chicago held its ninth annual International Banking Conference on October 5–6, 2006. This year, the theme was "International Financial Instability: Cross-Border Banking and National Regulation." Financial stability depends in large part on appropriate prudential supervision and regulation. While banking has increasingly become international and operates across borders, prudential regulation has largely remained national and its jurisdiction limited to financial institutions operating only within national borders. This conference identified implications of this mismatch for international financial stability and examined recommendations for mitigating any adverse effects without reducing gains from cross-border banking activities. The two-day conference featured keynote presentations by Stefan Ingves, Chairman of the Executive Board, Bank of Sweden/Riksbank; Raghuram G. Rajan, Economic Counselor and Director of Research, International Monetary Fund; J. P. Sabourin, Chief Executive Officer of the Malaysia Deposit Insurance Corporation, and Chair of the Executive Council and President, International Association of Deposit Insurers; and Sheila Bair, Chairman of the Federal Deposit Insurance Corporation.


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10/05/06
9:40 AM
Welcoming Remarks
Michael H Moskow, President and Chief Executive Officer, Federal Reserve Bank of Chicago
J P Sabourin, Chair, Executive Council, International Association of Deposit Insurers
10:00 AM
Session I: Landscape of International Banking and Financial Crises
Moderator
Douglas D Evanoff, Federal Reserve Bank of Chicago
Current State of Cross-Border Banking
Dirk Schoenmaker, Ministry of Finance, Netherlands
Actual and Near-Miss Cross-Border Crises
Carl-Johan Lindgren, Economic Consultant
Review of Country Financial Stability Reports
Sander Oosterloo, Ministry of Finance, Netherlands
Discussant
Luc Laeven, International Monetary Fund
12:00 PM
Luncheon and Keynote Address
Moderator
Gordon Werkema, First Vice President and Chief Operating Officer, Federal Reserve Bank of Chicago
Keynote
Stefan Ingves, Governor, Bank of Sweden/Riksbank
2:00 PM
Session II: Causes and Conditions for Cross-Border Instability Transmission and Threats to Stability
Moderator
Craig H Furfine, Federal Reserve Bank of Chicago
Contagion Links
Bent Vale, Norges Bank
Cross-Border Currency Crises
Jon Danielsson, London School of Economics
Gabriele Galati, Bank for International Settlements
Hedge Funds and Other Nonbanks
James R Barth, Milken Institute
Triphon (Ed) Phumiwasana, Milken Institute
Glenn Yago, Milken Institute
Discussant
Garry J Schinasi, International Monetary Fund
4:00 PM
Session III: Prudential Supervision
Moderator
Dalvinder Singh, Journal of Banking Regulation and Oxford Brookes University
Home Country/Cross-Border Externalities
Robert Eisenbeis, Federal Reserve Bank of Atlanta
Home–Host Country Conflicts
Richard J Herring, University of Pennsylvania
Nonbank Supervision
Paul Wright, Financial Services Authority, United Kingdom
Discussant
Eric Rosengren, Federal Reserve Bank of Boston
6:45 PM
Dinner and Keynote Address
Moderator
Michael H Moskow, President and Chief Executive Officer, Federal Reserve Bank of Chicago
Keynote
Sheila C Bair, Chairman, Federal Deposit Insurance Corporation

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