Macroprudential Supervision Conference: Challenges for Financial Supervisors

Korea Financial Supervisory Commission/Financial Supervisory Service
International Monetary Fund
Seoul (Grand Hyatt)
November 7–8, 2006

The trend towards macroprudential supervision reflects an increasing recognition by financial supervisors worldwide that supervision at the individual firm level is not sufficient to safeguard the soundness of the financial system as a whole. The conference gave participants an opportunity to meet and hear from internationally recognized experts on macroprudential supervision, in sessions on concepts, methods of analysis, and country case studies.

Disclaimer
The views expressed in these papers are those of the authors only, and the presence of them, or of links to them, on the IMF website does not imply that the IMF, its Executive Board, or its management endorses or shares the views expressed in the papers.

PROGRAM

Tuesday, November 7, 2006
8:30 a.m.–9:30 a.m. Registration/Welcome Coffee
9:30 a.m.–10:00 a.m. Opening Remarks
  Yoon Jeung-Hyun, Chairman/Governor, FSC/FSS
Tomás Baliño, Deputy Director, Monetary and Capital Markets Department, International Monetary Fund
Session 1 Financial Stability
  Chair: Dr. John Laker, Chairman, Australian Prudential Regulation Authority
10:00 a.m.–10:30 a.m. Factors Affecting Financial Stability
  Alexandre Tombini, Deputy Governor, Central Bank of Brazil
10:30 a.m.–11:00 a.m. A Macroprudential Approach to Financial Supervision and Regulation: Conceptual and Operational Issues
  Yung Chul Park, Professor, Seoul National University
11:00 a.m.–11:20 a.m. Coffee Break
11:20 a.m.– 11:50 a.m. Financial Sector Analysis: Lessons from the FSAP
  Tomás Baliño, Deputy Director, Monetary and Capital Markets Department, International Monetary Fund
11:50 a.m.– 12:20 p.m. Discussion
  John Fell, Head of Financial Stability Division, European Central Bank
Yong-Ro Yun, Standing Commissioner, Securities and Futures Commission
Tae-Kyun Kwon, Commissioner, Korea Financial Intelligence Unit, Ministry of Finance and Economy
12:20 p.m.–2:00 p.m. Lunch (all participants) Luncheon Address
Seongtae Lee, Governor, Bank of Korea
Session 2 Approaches to Macroprudential Supervision
  Chair: Yung Chul Park, Professor, Graduate School of International Studies, Seoul National University; Former Chairman, Public Fund Oversight Committee
2:30 p.m.–3:00 p.m. Elements of Macroprudential Supervision
  William Ryback, Deputy Chief Executive and Head of Supervision, Hong Kong Monetary Authority
3:00 p.m.–3:30 p.m. Perspective on Macroprudential Supervision from Individual Financial Institutions 
  Chang-Lok Kim, Governor, Korea Development Bank
3:30 p.m.–4:10 p.m. Coffee Break
4:10 p.m.–4:40 p.m. Institutional Arrangements for Macroprudential Supervision in European Countries
  Donato Masciandaro, Professor, Bocconi University, Milan
4:40 p.m.–5:30 p.m. Discussion
  John Laker, Chairman, Australian Prudential Regulation Authority
Tomás Baliño, Deputy Director, IMF
Alicia García-Herrero, Senior Economist, BIS
Dae Yeung Jeung, Director General, the Bank of Korea
Sangche Lee, Senior Counselor, FSC
6:00 p.m.–6:30 p.m Cocktail (all participants)
6:30 p.m.–8:30 p.m. Welcome Reception (all participants)
  Okyu Kwon, Deputy Prime Minister, Minister of Finance and Economy
Wednesday, November 8, 2006
Session 3 Stress Testing
  Chair: Sir Callum McCarthy, Chairman, Financial Services Authority, United Kingdom
9:00 a.m.–9:30 a.m. Overview of Stress Testing Methodologies: From Micro to Macro
  John Fell, Head of Financial Stability Division, European Central Bank
9:30 a.m.–10:00 a.m. Stress-Testing on Credit Risk
  Pierre-Yves Thoraval, Deputy Secretary General, French Banking Commission
10:00 a.m.–10:30 a.m. Stress Testing Market Risks and Derivatives Portfolios
  Gerald Krenn, Austrian National Bank
10:30 a.m.–11:00 a.m. Coffee Break
11:00 a.m.–11:30 a.m. Operational Risk
  Ali Samad-Khan, President, OpRisk Advisory LLC
11:30 a.m.–12:00 p.m. Pillar 2 Challenges
  Paul Kupiec, Co-Director, U. S. Federal Deposit Insurance Corporation
12:00 p.m.–12:30 p.m. Discussion
  William Ryback, Deputy Chief Executive,Hong Kong Monetary Authority
Karl Habermeier, Advisor/Area Chief, IMF
Hyosoon Choi, Director General, Korea Deposit Insurance Corporation
Myung-Jig Kim, Professor, Hanyang University
12:30 p.m.–2:00 p.m. Lunch (all participants) Luncheon Address
  Chung Won Kang, President and CEO, Kookmin Bank
Session 4 Case Studies in Macroprudential Supervision
   Chair: William Ryback, Deputy Chief Executive and Head of Supervision, Hong Kong Monetary Authority
2:30 p.m.–3:00 p.m.. Macroprudential Supervision in Korea
  Jang Yung Lee, Assistant Governor, Korea Financial Supervisory Service
3:00 p.m.–3:30 p.m. Financial Stability Analysis in Japan
  Toshiyuki Miyoshi, Director for International Banking Regulations, Japan Financial Services Agency
3:30 p.m.–4:00 p.m. Financial Stability Analysis in the UK
  Sir Callum McCarthy, Chairman, United Kingdom Financial Services Authority
4:00 p.m.–4:30 p.m. Coffee Break
4:30 p.m.–5:00 p.m. Micro and Macroprudential Perspectives: The Australian Experience
  Dr. John Laker, Chairman, Australian Prudential Regulation Authority
5:00 p.m.–5:30 p.m. Discussion
  Meral Karasulu, Resident Representative in Korea, IMF
Donato Masciandaro, Professor, Bocconi University
Gongpil Choi, Senior Advisor, FRB of San Francisco
7:00 p.m.–9:00 p.m. Cocktails and Dinner (Speakers & VIPs only)
  Jeung-Hyun Yoon, Chairman/Governor, Financial Supervisory
Commission/Financial Supervisory Service