Cross-Border Banking and Regulatory Reforms: Implications for Africa from International Experience

Keynote Address by Christine Lagarde, IMF Managing Director

February 1-2, 2017
Mauritius, IMF Africa Training Institute

Wednesday, February 1, 2017
13:30 – 13:45
Welcome: Governor Ramerswurlall Basant Roi, Bank of Mauritius
13:45 – 14:15
Keynote Adress:"Cross-Border Banking in Africa: Framing the Policy Issues"

IMF Managing Director, Mme. Christine Lagarde (public with press)

14:40 – 16:10
Session I: Cross-Border Supervisory Cooperation in Africa

Significant efforts have already been made to enhance cross-border cooperation in sub-Saharan Africa, and consolidated supervision of Pan-African banking groups. Nonetheless, many challenges remain. The session will take stock of progress and elicit the authorities’ views on the key challenges they face and the state of cooperation with other supervisors, including with home supervisors of international banks operating in Africa.

Presentation: An update of the work on the increasing role of Pan-African banks and implications for financial integration in Africa

Governor Patrick Njoroge, Central Bank of Kenya

Governor Denny Kalyalya, Bank of Zambia

Governor Rogerio Zandamela, Banco de Moçambique

Mr. Abderrahim Bouazza, General Director, Bank Al Maghrib

Moderator: Anne-Marie Gulde-Wolf, Deputy Director, African Department, IMF

16:10 – 16:25
Questions and Answers
16:25 – 17:55
Session II: Private Sector Perspectives on Pan-African Banking

The session will allow participants to voice their view of Africa’s financial market potential and provide a comparative perspective on different bank strategies on cross-border operations and expansion. It will provide an opportunity for dialogue on private sector views regarding ongoing efforts to strengthen regulatory and prudential oversight frameworks in Africa.

Mr. Ade Ayeyemi, Group CEO, Ecobank

Mr. Brahim Benjelloun-Touimi, Group CEO, Banque Marocaine de Commerce Extérieur Group

Mr. J. Gilbert Gnany, Chief Strategy Officer and Executive Director, Mauritius Commercial Bank (MCB) Group Ltd

Mr. Charles Mudiwa, CEO, Stanbic Zambia

Moderator: Ms. Ratna Sahay, Deputy Director, Monetary and Capital Markets Department, IMF

17:55 – 18:10
Questions and Answers
Thursday, February 2, 2017
9:00 – 9:30
Keynote Address: “Resolving Cross-Border Banks—Lessons from the Nordic and European Banking Crises”

Mr. Stefan Ingves, Chairman of the Basel Committee on Banking Supervision, and Governor of the Sveriges Riksbank.

9:30 – 9:45
Discussant: Deputy Governor, Mr. Kuben Naidoo, SARB
9:45 – 10:00
Questions and Answers
10:00 – 11:15
Session III: International and European Experience on Regulation, Supervision, and Resolution of Cross-Border Banks

The European experience emanating from the global financial crisis clearly demonstrated the need for effective cross-border cooperation and resolution arrangements. Resolving cross-border financial institutions involved ad hoc costly interventions, and tensions related to different national priorities. Preserving financial stability required moving toward a supranational approach. The session will review the case for, the roadmap toward, and the experience to date on a common supervision and resolution framework involving home and host authorities. It will discuss international best practices on supervisory frameworks for bank-holding companies, a key issue in the context of Pan-African banking, and highlight lessons on implementation challenges in limited capacity settings prevailing in Africa.

Mr. Lyndon Nelson, Deputy CEO, Prudential Regulation Authority, UK
Presentation: Cross-Border Banking and Regulatory Reforms: Implications for Africa from International Experience

Mr. Neil Esho, Deputy Secretary General, BCBS

Ms. Julie Dickson, SSM Supervisory Board member, European Central Bank
Presentation: International and European Experience on Regulation, Supervision, and Resolution of Cross-Border Banks

Mr. Bertrand Peyret, Director, Prudential Control Agency, Bank of France
Presentation: Practical considerations in terms of cross border cooperation: Colleges of supervisors and Crisis Management Groups

Moderator: Mr. Nigel Jenkinson, Assistant Director, Monetary and Capital Markets Department, IMF
Presentation: Financial Sector Technical Assistance: Focus on Africa   

11:15 – 11:30
Questions and Answers
11:45 – 13:00
Session IV: Key Takeaways on Cross-Border Banking and the Road Ahead for Effective Oversight of Pan-African Banks

The session will take stock of the dialogue on cross-border banking and the key lessons from the experience in Europe, placing the conference in the larger context of ongoing efforts to safeguard financial stability and foster sustained growth in Africa. It will underscore the priority to strengthen consolidated supervision and cross-border cooperation in Africa, and recommend that these efforts be actively pursued under the aegis of the Association of African Central Banks.

Governor Godwin Emefiele, Central Bank of Nigeria; President, AACB

Governor Tiémoko Meyliet Koné, BCEAO

Mr. Kuben Naidoo, Deputy Governor, Registrar of Banks, SARB

Moderator: Mr. Abebe Aemro Selassie, Director, African Department, IMF

13:00 – 13:15
Questions and Answers