16 December 2020 (Wednesday)

Academic Session: Financial sector developments and diagnosis of financial stability risks in times of COVID-19

The COVID-19 crisis, set against the background of persistently low interest rates and weak global economic activity, has the potential to magnify challenges in the financial sector already present before the pandemic. This session consists of a stocktaking of emerging risks to global and regional financial stability due to the COVID-19 crisis. This will be followed by three presentations that will look more closely at: (i) bank business models after the pandemic; (ii) the Latin American financial sector in and beyond the pandemic; and (iii) credit and contagion risks among Asian financial institutions.

Moderator: Daragh Clancy

14:00 – 14:05

Introduction:
Daragh Clancy, European Stability Mechanism

14:05 – 14:15

Emerging risks to financial stability due to the COVID-19 pandemic
Fabio Natalucci, Deputy Director, Monetary and Capital Markets Department, IMF

14:15 – 14:30

Bank business model in the post COVID-19 world

Xavier Vives, Professor of Economics and Finance at IESE Business School

14:30 – 14:45

Sound banks for healthy economies: Challenges for policymakers in Latin America and the Caribbean in times of coronavirus

Liliana Rojas-Suarez, Director of the Latin America Initiative and senior fellow at the Centre for Global Development

14:45 – 15:00

Covid, credit, and contagion risks to ASEAN+3 financial systems

Wei Sun, Financial Specialist, AMRO

15:00 – 15:10

Discussant:

Gong Cheng, Bank for International Settlements

15:10 – 15:30

Q&A and closing remarks

17 December 2020 (Thursday)

Policy panel: The financial sector after COVID-19 – challenges and opportunities ahead

As outlined in the previous session, the COVID-19 crisis has amplified existing vulnerabilities in the financial sector. In addition, it has accelerated trends related to digitalisation and climate change that were already taking place before the pandemic hit. This roundtable will consider policy avenues in the next phases of the crisis to contribute to a resilient financial sector post-COVID-19 that would continue to absorb rather than magnify stresses. By considering global and regional perspectives and leveraging knowledge across stakeholders, it will aim to inform the academic and policy debate as we prepare for the financial landscape of the next decade.

Moderator: Thomas Wieser

14:00 – 14:05

Welcome by the moderator
Thomas Wieser

14:05 – 14:15

Keynote speech
Benoît Cœuré, Head of the BIS Innovation Hub, Bank for International Settlements

14:15 – 15:15
Q&A integrated in the panel conversation

Sonja Gibbs, Managing Director and Head of Sustainable Finance, Global Policy Initiatives, Institute of International Finance

Ceyla Pazarbasioglu, Director, Strategy, Policy and Review Department, International Monetary Fund

Declan Costello, Deputy Director-General, ECFIN, European Commission

Jorge Ponce, Head of Economic Research Department, Central Bank of Uruguay

Hoe-Jeong Kim, Standing Audit Commissioner at Korea Exchange and AMRO Advisory Panel Member