On June 15, 2009, a conference on "Reforming Financial Regulation and Supervision: Back to Basics," jointly organized by Banco de España and the Office of the Chief Economist for Latin America and the Caribbean, was held in Madrid. The conference brought together top researchers and high-level policy makers from around the world that are leading the discussion on the reform of financial regulation and supervision. This reform has become necessary following the unprecedented depth, breadth, and complexity of financial crisis unleashed by the sub-prime debacle in the U.S. In addition to revisiting regulatory and supervisory reform issues from a "back to basics" perspective, the conference aimed at bringing Latin American regulators and central bankers to the frontier of the technical and policy debate on these reforms. The conference participants included high-level financial sector authorities from virtually every country in the LAC region.
Information
15 June 2009
Madrid
Programme ( 144 KB )
Speakers
15 June
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- 09:00h - 10:30h
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"Why did regulation fail?"
Chair: Javier Aríztegui (Banco de España)
Lead speaker: Augusto de la Torre (World Bank)Panelists: Rafael Repullo (CEMFI). Panelist: "Why did regulation fail?"
(126 KB)and Xavier Vives (IESE). Panelist: "Why did regulation fail?" (106 KB)
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- 11:00h - 12:30h
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"Where is regulatory reform headed?"
Chair: Alvir Alberto Hoffmann (Banco Central do Brasil, President of ASBA)
Lead speaker: Laura Kodres (IMF)- Paper: "Where is regulatory reform headed?" (149 KB)
- Presentation: "Where is regulatory reform headed?" (499 KB)
Panelists: Charles Goodhart (LSE); Beverly Hirtle (New York Fed). Panelist: "Where is regulatory reform headed?"
(795 KB)and José Mª Roldán (Banco de España) - Paper: "Where is regulatory reform headed?"
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- 12:30h - 14:00h
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"Rethinking the supervisory process"
Chair: Gustavo Arriagada (SBIF, Chile). Chair: "Rethinking the supervisory process"
(125 KB)
Lead speaker: John Palmer (Toronto Center)- Paper: "Rethinking the supervisory process" (419 KB)
- Presentation: "Rethinking the supervisory process" (299 KB)
Panelists: Fernando Vargas (Banco de España). Panelist: "Rethinking the supervisory process"
(1 MB); Jon Danielsson (LSE) and Kerstin af Jochnick (President CEBS). Panelist: "Rethinking the supervisory process" (278 KB) - Paper: "Rethinking the supervisory process"
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- 15:30h - 17:00h
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"The challenges of global financial surveillance and the quest for financial stability"
Chair: Enrique Iglesias (SEGIB)
Lead speaker: Richard Portes (CEPR). Lead speaker: "The challenges of global financial surveillance and the quest for financial stability" (269 KB)
Panelists: Morris Goldstein (Institute for International Economics). Panelist: "The challenges of global financial surveillance and the quest for financial stability" (43 KB); Chris Towe (IMF). Panelist: "The challenges of global financial surveillance and the quest for financial stability" 
(234 KB); Ignazio Visco (Banca d’Italia). Panelist: "The challenges of global financial surveillance and the quest for financial stability" (232 KB)
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- 17:00h - 18:45h
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"Regulatory and supervisory reform: the Latin American perspective"
Chair: Fernando Montes (World Bank)
Panelists: Monica Aparicio (Fogafin, Colombia). Panelist: "Regulatory and supervisory reform: the Latin American perspective" (992 KB); Miguel Angel Garza (CNBV, México); Kevin Cowan (Central Bank, Chile). Panelist: "Regulatory and supervisory reform: the Latin American perspective" (786 KB); Andrew Powell (IDB); Alain Ize (World Bank)