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Fourth Annual Joint Conference of the Deutsche Bundesbank, European Central Bank and Federal Reserve Bank of Chicago on CCP Risk Management

On 22 March 2022 the European Central Bank (ECB) hosted the fourth annual joint conference of the Deutsche Bundesbank, the ECB and the Federal Reserve Bank of Chicago on CCP Risk Management. In light of the ongoing Covid-19 pandemic, this year’s conference was held virtually. The event, by invitation only and held under Chatham House Rules, brought together participants from industry, regulatory bodies and academia to discuss expanding access to central clearing and climate change risk in financial markets. The program and relevant recordings are linked in this summary.

Conference summary

Tuesday, 03/22/22
11:00 PM

Note: Times are Central European Time (UTC+1)

1:10 PM
Opening Remarks
Fabio Panetta, Member of the Executive Board of the European Central Bank
1:25 PM
Panel 1: Extending central clearing
  • How to assess emerging business cases and suitability for clearing of new asset classes/markets?
  • What is the role of incentives and clearing mandates today?
  • How would or could new technologies shape the future of clearing and settlement operations?

Robert S. Steigerwald, Senior Policy Advisor, Federal Reserve Bank of Chicago
Panel Debate
Jeff Bandman, Principal, Bandman Advisors
Isabelle Girolami, Chief Executive Officer, LCH Ltd
Erik Tim Müller, Chief Executive Officer, Eurex Clearing
Bill Stenning, Head of Public Affairs (UK), Société Generale
2:25 PM
Coffee break
2:35 PM
Fireside Chat

Nicoletta Giusto, Independent Member of the CCP Supervisory Committee and Director for Central Counterparties, European Securities and Markets Authority (ESMA)

Fiona van Echelpoe, Deputy Director General, Market Infrastructure & Payments, European Central Bank
2:55 PM
Panel 2: Climate change risks in financial markets
  • Why are climate change risks relevant for CCPs?
  • How could or should CCPs embed climate change risks into their risk management?
  • Would CCPs need regulatory/supervisory guidance on climate change risks?
  • What aspects of climate change risk management are common to CCPs and other financial institutions, and which aspects are distinct?

Dirk Schrade, Deputy Director General, Payments and Settlement Systems, Deutsche Bundesbank
Panel Debate
Hester Serafini, President, ICE Clear Europe
Olaf C.H.M. Sleijpen, Executive Board Member, De Nederlandsche Bank
Irina Slinko, Chief Risk Officer, Nasdaq Clearing
Clemens Völkert, Chief Risk Officer, European Commodity Clearing
3:50 PM
Closing remarks
Burkhard Balz, Member of the Executive Board of the Deutsche Bundesbank
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