Second annual ECB macroprudential policy and research conference

Welcome address

Vítor Constâncio, Vice-President, European Central Bank

Session 1Foundations for macroprudential policy

Chair: Luc Laeven, European Central Bank

Macroprudential policy: its foundations and challenges for central banks Slides

Enrique Mendoza, University of Pennsylvania

Macroprudential and systemic risk – an overview of recent developments

Jean-Charles Rochet, University of Zurich

Session 2Assessing risk and resilience in the financial system

Chair: Philipp Hartmann, European Central Bank

Choosing stress scenarios for systemic risk through dimension reduction Slides

Matthew Pritsker, Federal Reserve Bank of Boston

Applied Reverse Stress Testing: Conditional forecasting for scenario formulation

Mark Flood*, Office of Financial Research
Jonathan Jones, Office of the Comptroller of the Currency, U.S Dept. of Treasury
George Korenko, Edgeworth Economics
Akhtar Siddique, Office of the Comptroller of the Currency, U.S Dept. of Treasury

STAMP€ : Stress Test Analytics for Macroprudential Purposes in the euro area

Stéphane Dées, European Central Bank
Jérôme Henry*, European Central Bank
Reiner Martin, European Central Bank

Discussants:
Nellie Liang, Brookings Institution
Udaibir Saran Das, International Monetary Fund

Session 3 Modelling the impact of macroprudential policy

Chair: Carmelo Salleo, European Central Bank

Bank capital in the long and in the short run Slides

Caterina Mendicino, European Central Bank
Kalin Nikolov, European Central Bank

Optimal monetary and macroprudential policies: gains and pitfalls in a model of financial intermediation Slides

Michael Kiley*, Federal Reserve Board
Jae Sim, Federal Reserve Board

Concerted efforts? Monetary and macro-prudential policies Slides

Andrea Ferrero*, University of Oxford
Richard Harrison, Bank of England

Discussants:
Larry Christiano, Northwestern University
Christian Friedrich, Bank of Canada

End of day one of conference

Dinner with speech by Charles Goodhart, London School of Economics

Keynote speech The design and governance of financial stability regimes Slides

Paul Tucker, Systemic Risk Council

Session 4A macroprudential policy for the financial sector

Chair: Sergio Nicoletti-Altimari, European Central Bank

Macroprudential policy and market-based financial intermediation

Tobias Adrian, International Monetary Fund

A macroprudential response to risks in the asset management sector Slides

Barbara Novick, BlackRock

Macroprudential policy towards a capital markets union

Alberto Giovannini, MTS, EuroMTS and ESRB Advisory Scientific Committee

Policy Panel What macroprudential framework for Europe?

Chair: Vítor Constâncio, Vice-President, European Central Bank

Sharon Donnery, Central Bank of Ireland

John Berrigan, European Commission
Paul Hilbers, De Nederlandsche Bank
Fernando Restoy, Bank for International Settlements

End of conference