SUERF

Program

Time

Friday, 14 September 2018

08:30

Registration and coffee

09:00

Opening and Welcome

Jean Hilgers, Belgian Financial Forum President and National Bank of Belgium

Jakob de Haan, SUERF President and De Nederlandsche Bank

09:15

Keynote Address

The future of central banking

Jan Smets, Governor of the National Bank of Belgium

Speech

09:45

Panel 1: Scars or scratches: how damaging is the fall-out from the crisis for the real economy and the natural rate of interest?

How strong is the impact of the crisis on potential output? Are hysteresis scars deeper in Europe than in the US? How did the crisis interact with more secular trends such as the productivity slowdown and population ageing? How low is the natural rate in the new normal? How much debt overhang is still there?

Chair: Freddy Van den Spiegel, Vrije Universiteit Brussel and Chairman of the Coordination Committee of the Belgian Financial Forum

David Turner, Head of the Macroeconomic Analysis Division, OECD

William De Vijlder, Group Chief Economist, BNP Paribas

Eva Ortega, Head of the Modelling Unit, Banco de España

Cinzia Alcidi, Senior Research Fellow and Head of the Economic Policy Unit of CEPS

11:00

Coffee break

11:30

Panel 2: The financial sector and prudential policies in the new normal

Where has the regulation overhaul taken us? Is macroprudential policy effectively addressing systemic risk? How to cope with shifts towards less regulated financial market segments? What are the implications for the profitability, efficiency and business models of financial intermediaries?

Chair: Jo Swyngedouw, Head of Prudential Policy and Financial Stability, National Bank of Belgium

Mathias Dewatripont, Université Libre de Bruxelles

Isabelle Vaillant, Director Regulation, European Banking Authority

Rudi Vander Vennet, Head of Department of Financial Economics Universiteit Gent

Christine Van Rijsseghem, Chief Risk Officer, KBC Group

12:45

Sandwich Lunch

14:00

Panel 3: Monetary policy beyond normalisation: objectives and instruments

How should central banks balance price stability and financial stability objectives? Should inflation targets be raised or lowered; should the horizon for the price stability objective be lengthened? Will the central bank’s balance sheet become a permanent tool?

Anders Vredin, Head of the General Secretariat, Sveriges Riksbank

Chair: Peter Vanden Houte, Chief Economist, ING Belgium

Maria Demertzis, Deputy Director at Bruegel

Andrew Filardo, Head of Monetary Policy, Bank for International Settlements

Natacha Valla, Deputy Director-General Monetary Policy, European Central Bank and SUERF, Council of Management

15:15

Keynote Address

How much deepening of the Economic and Monetary Union is needed?

Poul Thomsen, Director of the IMF’s European Department

Speech

16:00

End of the conference, followed by a reception

Tags:

Central Banking and Monetary Policy Economic policy and Political economy EU integration and EMU governance Financial stability, regulation and supervision

10 Years after the start of the financial crisis: Contours of a new normal

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