The New Shape of Banking: Regulation, Reform and Resilience
Major banks are facing a raft of regulatory changes: the Bank of England and the European Central Bank are assuming new regulatory responsibilities; the UK and the US are adopting ‘ring-fencing’ for banks, with the EU considering its own ‘ring-fencing’ regime; and differing proposals for resolution of major banks are emerging globally.
Policy-makers and regulators, business leaders and expert commentators at this conference will discuss how the new regulatory frameworks will work in practice, assessing:
- Whether the single supervisor and the single resolution mechanism in the EU will achieve its intended purpose of breaking the interdependencies between banks and sovereign debt
- Whether ring-fencing will solve the problem of banks being ‘too big to fail’
- The impact that resolution rules will have on cross-border financial flows
- How differing approaches to resolution will affect attempts to coordinate regulation globally
- How banks will adjust to the new regulatory environment.
Continuing Professional Development
5.5 CPD (continuing professional development) hours are available for delegates attending this event, as per The Law Society of England and Wales and the Bar Standards Board.
The Chatham House Rule
To enable as open a debate as possible, this conference will be held under the Chatham House Rule.
Suggested hashtag: #CHcity
Monday 20 October
What is the new regulatory normal for banks? How will this change the shape of banking?
Achieving Global Coherence in Banking Regulation
Stephen Pickford, Senior Research Fellow, International Economics, Chatham House
- What will the G20 meeting in Brisbane deliver, on cross-border resolution and ‘shadow’ banking?
Barry Sterland, G20 Deputy Finance Minister, Australian Treasury (via videolink)
Questions and Discussion
- If a common approach to cross-border resolution cannot be agreed, what will the consequences be for a global financial system?
- How will the EU’s approach to ‘ring-fencing’ compare to those taken in the US and the UK?
- Are there any advantages to being a global bank in the current regulatory environment?
William Coen, Secretary General, Basel Committee on Banking Supervision
Olivier Guersent, Deputy Director-General, DG Internal Market and Services, European Commission
Douglas Flint, Group Chairman, HSBC Holdings plc
Questions and discussion
Keynote Session One
Central Banks' New Regulatory Powers
In the eurozone and the UK, the Central Banks have re-assumed the roles of bank regulators. How will the new structures work?
- Both the Bank of England and the European Central Bank (ECB) now oversee monetary policy, financial stability, prudential and macroprudential regulation. How are the new structures ensuring effective collaboration, and managing policy conflicts within each organization?
- How will the ECB and the Bank of England work together? Will there be a common European position in the Financial Stability Board?
- In the UK, the conduct of business is now regulated separately. Does this make the regulatory architecture weaker or stronger?
Sharon Bowles, MEP (2005-14) and Chair, Economic and Monetary Affairs Committee, European Parliament (2009-14)
Sir Jon Cunliffe, Deputy Governor, Financial Stability, Bank of England
Questions and discussion
Vítor Constâncio, Vice-President of the European Central Bank
Questions and discussion
Regulatory Policy and the Wider Economy
- The aim of creating a single supervisor, and a resolution mechanism in the EU was to break the interdependencies between banks and sovereign debt, raising confidence in the European economy. Does the European Central Bank’s Asset Quality Review show that this has been achieved?
- Is collective supervision without collective resolution or deposit insurance, workable?
- What will be the effect of the structural changes on EU members who are not part of the eurozone, or who have not opted ‘in’ to banking union? Which non-euro member states will join banking union?
- What do rules on supervision, ringfencing and resolution mean for the location of banking business across the EU?
- What impact will resolution rules have on cross border financial flows?
- How will banks’ business models change in response to regulation on supervision, ring-fencing and resolution?
Nicolas Véron, Visiting Fellow, Peterson Institute for International Economics and Senior Fellow, Bruegel
Katherine Braddick, Director, Financial Services, HM Treasury
Andrea Enria, Chairperson, European Banking Authority
Lorenzo Bini Smaghi, Member of the Board and Vice President of Société Générale
Chris Allen, Managing Director and Global Head of Regulatory Policy, Barclays
Questions and discussion
16:15 - 16:45 Refreshments
- As bank regulation becomes more stringent, business will move elsewhere as businesses seek liquidity. What are the advantages of non-bank sources of finance, and how can they best be regulated?
Hugo Dixon, Editor-at-large, Breakingviews, Thomson Reuters
Jes Staley, Managing Partner, BlueMountain Capital Management
Ben Birgbauer, Treasurer, Jaguar Land Rover
17:45 Close of conference and drinks reception hosted by Chatham House© The Royal Institute of International Affairs 2014
Global Head of Regulatory Policy, Barclays
Lorenzo Bini Smaghi
Member of the Board and Vice President of Société Générale
Treasurer, Jaguar Land Rover
Non-Executive Director, London Stock Exchange; Chair, Economic and Monetary Affairs Committee, European Parliament (2009-14)
Director of Financial Services, HM Treasury
Secretary General, Basel Committee on Banking Supervision
Editor-at-large, Breakingviews, Thomson Reuters
Chairperson, European Banking Authority
Group Chairman, HSBC Holdings plc
Deputy Director-General, DG Internal Market and Services, European Commission
Associate Fellow, Global Economy and Finance, Chatham House
Managing Partner, BlueMountain Capital Management
G20 Deputy Finance Minister, Australian Treasury
Senior Fellow, Bruegel
For any questions about rates, please call +44 (0)20 7314 2782.
|EXCL. VAT||INCL. VAT|
|Major corporate member rates|
|Corporate member rates|
|NGOs and academics||£425||£510|
|NGOs and academics||£475||£570|
If you are interested in becoming a sponsor for this event, please contact Alison Archer on +44 (0)20 7314 3643 or email [email protected].
This conference will offer a unique opportunity to network with senior officials from businesses, government, NGO's and academic institutions.
Our previous city series conferences saw delegates from companies and institutions such as:
Advent International plc
Allianz Global Investors
AXA Investment Managers
Banca d' Italia
Bank of America Merrill Lynch
Bank of England
Bank of Japan
Bank of Tokyo-Mitsubishi UFJ Ltd
British Bankers' Association
Central Bank of Ireland
City of London Corporation
Clifford Chance LLP
Comissao do Mercado de Capitais
Credit Suisse Securities
De Nederlandsche Bank (DNB)
Ernst & Young
European Banking Authority
European Investment Bank (EIB)
ExxonMobil International Ltd
Financial Reporting Council (FRC)
Financial Services Authority (FSA)
Foreign & Commonwealth Office
Freshfields Bruckhaus Deringer
Fried Frank Harris Shriver & Jacobson (London) LLP
Goldman Sachs International
Herbert Smith Freehills LLP
Herbert Smith LLP
Institute for Financial Research
Investec Asset Management
Japan Bank for International Cooperation
Jersey Financial Services Commission
Latham & Watkins
Lloyd's of London
Loan Market Association
Mizuho Corporate Bank
Nationwide Building Society
Nederlandse Vereniging van Banken (NVB) (Dutch Banking Association)
Nomura International plc
Rolls-Royce International Limited
Royal Bank of Scotland (RBS)
Shearman & Sterling LLP (London)
Simmons & Simmons
Slaughter and May
Standard and Poor's
Standard Chartered Bank
Statoil (UK) Ltd
Sumitomo Mitsui Banking Corporation Europe Limited
Swiss Financial Market Supervisory Authority (FINMA)
The Clearing House
The Department for Business, Innovation and Skills (BIS)
The Depository Trust & Clearing Corporation (DTCC)
US Department of the Treasury
White & Case LLP
10 St James's Square
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The nearest tube station is Piccadilly Circus which is on the Piccadilly and the Bakerloo Underground lines. From Piccadilly follow Regent Street southwards towards Pall Mall and take the first road on the right called Jermyn Street. Duke of York Street is the second road on the left and leads to St James's Square. Chatham House is immediately on your right.
Although we cannot book accommodation for delegates, we have arranged a reduced rate at some nearby hotels, where you can book your own accommodation. Please inform the hotel that you will be attending a conference at Chatham House (The Royal Institute of International Affairs) to qualify for the Institute's reduced rate.
Please note all rates are subject to availability.
Half Moon Street
London W1Y 7RA
Tel: + 44 (0)20 7499 2964
Fax: + 44 (0)20 7499 1817
Standard Single from £199 + VAT
The Cavendish London
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Tel: + 44 (0)20 7930 2111
Fax: + 44 (0)20 7839 2125
Standard Single £205 + VAT
The Stafford London by Kempinski
St James's Place
Tel: 020 7518 1125
Fax: 020 7493 7121
Standard Single £230 +VAT