International Monetary Fund

Washington, DC, March 7 and 8, 2011

Macro and Growth Policies in the Wake of the Crisis

SESSION III: Financial Intermediation and Regulation

The financial sector, which had been hailed as a hub of innovation and a driver of growth, led to a crisis that brought the world economy to the brink of collapse and caused unemployment for many millions. As a result, there is broad agreement on the need for reform that minimizes the chances of future catastrophes, while maintaining as much as possible of the social benefits of the financial sector. Unfortunately, there is little agreement beyond that.

Background notes on financial intermediation

How should the crisis affect our views about financial intermediation?
by Andrew Crockett


Antonio Borges

Antonio Borges became Director of the European Department at the International Monetary Fund in December 2010.



Jacob A. Frenkel

Dr. Jacob A. Frenkel is Chairman of JPMorgan Chase International, a member of the Executive Committee of JPMorgan Chase & Co. and the J.P. Morgan International Council. He also serves as Chairman and CEO of the Group of Thirty (G-30) which is a private, nonprofit, Consultative Group on International Economic and Monetary Affairs.

Y. Venugopal Reddy

Dr. Y.V. Reddy was Governor, Reserve Bank of India, from 2003 to 2008. Subsequently, he was Member of the UN Commission of Experts to the President of the UN General Assembly on Reforms of International Monetary and Financial System.

Hyun Song Shin Presentation

Macroprudential Policies Beyond Basel III

Carry Trades, Monetary Policyand Speculative Dynamics

Procyclicality and Monetary Aggregates

Hyun Song Shin became the Hughes-Rogers Professor of Economics at Princeton University in 2006.

Adair Turner Presentation

The financial crisis and the future of financial regulation

Responding to the financial crisis: challenging past assumptions

Successful regulatory reform

Adair Turner was appointed Financial Services Authority (FSA) Chairman in September 2008. He has combined careers in business, public policy and academia.