20 years of Macroprudential Policy in Europe – looking back and looking forward

NBS I Bank of Finland I SUERF Research Conference

20 years of Macroprudential Policy in Europe – Looking back and looking ahead

Registration

September 21 and 22, 2023
hybrid in-person, Bratislava & online via Webex

Venue: Sheraton Bratislava Hotel, Pribinova 12, Bratislava

Day 2 - Live Stream: https://www.youtube.com/watch?v=Is18O2PRKHA

Macroprudential policy has been part of the economic policy toolkit in Europe for around two decades and has become widely used since the GFC. It is time to look back at experiences and best practices in Europe. What have we learnt about the efficiency of various tools used to dampen financial cycles and to strengthen the resilience of the financial system? Have macroprudential policies helped to cushion financial crises that Europe experienced during the last two decades? What were success factors and shortcomings? Looking ahead, how can macroprudential policies help to address the challenges the European economy is facing? These include the transformation towards a more market and tech-based financial system, the transition to a sustainable economy and the possibility of a protracted period of upward inflation pressures. This conference will bring together leading academic researchers and macroprudential policymakers to take stock and to provide some guidance on the future development of macroprudential policies.

Scientific coordination
Ernest Gnan, SUERF; Zuzana Fungáčová, Bank of Finland; Esa Jokivuolle, Bank of Finland and SUERF; Ján Klacso, Národná banka Slovenska; and, Reiner Martin, Národná banka Slovenska and SUERF

Thursday, 21 September 2023
09:15	Registration

10:00	Introduction and welcome remarks

	Peter Kažimír, Governor, Národná banka Slovenska Marja Nykänen, Acting Governor, Bank of Finland

10:15	Keynote I “MPP through the eyes of dynamic macro-banking models”

	Macroprudential policy through the eyes of dynamic macro-banking models Javier Suarez, Full Professor, CEMFI Introduced by Reiner Martin, Executive Director, Head of Research, NBS I SUERF Presentation (pdf)

11:00	Session 1 (Academic) – What do we know about MPP so far?

	Chair: Thorsten Beck, Professor, EUI Florence I SUERF Fellow Ricardo Correa, Senior Advisor, Federal Reserve Board Presentation (pdf) Enrique Mendoza, Professor, University of Pennsylvania Presentation (pdf) Martin Hellwig, Professor, MPI Bonn (Joining remotely) Presentation (pdf)

12:30	Lunch

13:30	Session 2 (Policy, National perspectives) – What do we know about MPP so far?

	Chair: Marja Nykänen, Member of the Board, Bank of Finland Gediminas Šimkus, Chairman of the Board, Lietuvos Bankas Presentation (pdf) Marek Ličák, Director, Macroprudential Policy Department, Národná banka Slovenska Presentation (pdf) Benjamin Weigert, Director General, Financial Stability, Deutsche Bundesbank Katja Taipalus, Head of Financial Stability and Statistics, Bank of Finland Presentation (pdf)

15:00	Coffee break

15:30	Session 3 (Policy, International perspectives) – What do we know about MPP so far?

	Chair: Reiner Martin, Executive Director, Head of Research, Národná banka Slovenska I SUERF Macroprudential policy: Some global perspectives Christopher J. Erceg, Deputy Director, Monetary and Capital Markets Department, IMF (Joining remotely) Presentation (pdf) Bengt Holmstroem, Professor, MIT I SUERF Fellow (Joining remotely) Macroprudential policy in the SSM area: What have we learnt? Cornelia Holthausen, Director General, Macroprudential Policy and Financial Stability, ECB Macro-financial stability frameworks and external financial conditions Boris Hofmann, Head of Monetary Policy, BIS

17:00	End - Day 1

19:00	Dinner & Keynote speech

	Stefan Ingves, former Governor, Sveriges Riksbank

Friday, 22 September 2023
09:00	Registration

09:30	SUERF Annual Lecture: “Defining the research frontier for MPP – where to go from here?”

	Thorsten Beck, Professor, EUI Florence I SUERF Fellow Introduced by Ernest Gnan, Secretary General, SUERF

10:30	Coffee break

10:45	Session 4: A brave new world for MPP?

	Chair: Markus Schwaiger, Director, Department for Financial Stability and the Supervision of Less Significant Institutions, OeNB Tuomas Peltonen, Deputy Head of Secretariat, ESRB Paul Hiebert, Head of Systemic Risk and Financial Institutions Division, ECB Gonzalo Gasós, Senior Director Prudential Policy and Supervision, European Banking Federation Cristina Cella, Advisor, Financial Stability Department, Sveriges Riksbank

12:15	Wrap-up and Closing remarks - Drawing up the MPP to do list

	Reiner Martin, Executive Director, Head of Research, Národná banka Slovenska I SUERF

12:30	End - Day 2

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20 years of Macroprudential Policy in Europe – Looking back and looking ahead

Registration