Navigation Path: Home > Events > Conferences & seminars > Conference on 'Payments and monetary and financial stability'
| 9:00 - 9:15 | Opening remarks, en Gertrude Tumpel-Gugerell (Member of the Executive Board, European Central Bank) |
| 9.15 - 12.45 | Theme 1 Payment systems and monetary stability Chair: Charles Goodhart (London School of Economics) Steve Williamson (Washington University, St Louis): ‘Transactions, Credit and Central Banking in a Model of Segmented Markets’, 1.47 MB en, 1.33 MB en Discussant: Charles Kahn (University of Illinois and Urbana-Champaign), en Antoine Martin and Jamie McAndrews (Federal Reserve Bank of New York): ‘Why are there no intraday money markets?’, en, en Discussant: Paolo Angelini (Banca d’Italia) , en |
| 10:45 - 11:15 | Coffee Break |
| 11:15 - 12:45 | Aleksander Berentsen (University of Basel) and Cyril Monnet (European Central Bank/Federal Reserve Bank of Philadelphia): ‘Monetary Policy in Channel Systems’, en, en Discussant: Erlend Nier (Bank of England), en Elizabeth Klee (Board of Governors of the Federal Reserve System) ‘Operational problems and aggregate uncertainty in the federal funds market’, en, en Discussant: Nuno Cassola (European Central Bank), en |
| 12:45 - 14:15 | Lunch |
| 14:45 – 15:15 | New markets and new demands: challenges for central banks in the wholesale market infrastructure, en
Keynote speech by Nigel Jenkinson (Bank of England) |
| 14:45 - 18:00 | Theme 2 Interdependencies between payment systems and settlement systems Chair: Sean O’Connor (Bank of Canada) Jochen Schanz (Bank of England): ‘Models of foreign exchange settlement and informational efficiency in liquidity risk management’, en, en Discussant: James Chapman (Bank of Canada), en Morten Bech (Federal Reserve Bank of New York), Walt Beyeler (Sandia National Laboratories), Robert Glass (Sandia National Laboratories), Fabien Renault (Banque de France), and Kimmo Soramäki (European Central Bank): ‘Congestion and Cascades in Coupled Payment Systems’, en, 1.78 MB en Discussant: Stephen Millard (Bank of England), en |
| 16:15 - 16:45 | Tea Break |
| Panel Session | Panellists: Chair: Denis Beau (Banque de France), en Colin Church (Citigroup) Sophie Gautié (BNP Paribas), en Gerard Hartsink (ABN Amro), en Marshall Millsap (JP Morgan Chase) |
| 18.00 | Close of day 1 |
| 20:00 | Conference dinner
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| 9:15 - 10:15 | High level remarks Globalisation of the wholesale market infrastructure and central bank policy Chair: Jean-Claude Trichet (President, European Central Bank) Timothy Geithner (President, Federal Reserve Bank of New York) John Gieve (Deputy Governor, Bank of England) Christian Noyer (Governor, Banque de France) |
| 10:15 - 10:45 | Coffee Break |
| 10:45 - 12:00 | Theme 3 OTC derivatives clearing arrangements |
| Panel Session | Panellists: Chair: Patrick Parkinson (Board of Governors of the Federal Reserve System), en Peter Axilrod (DTCC) Ann Marie Davis (Citadel) Simon Grensted (SwapClear), 1.42 MB en Robert Pickel (ISDA) |
| 12:00 - 12:45 | Theme 4 The role of non-banks in payment systems Simonetta Rosati (European Central Bank) and Stuart Weiner (Federal Reserve Bank of Kansas City): ‘The role of non-banks in payment systems’, en, en Discussant: Sujit Chakravorti (Federal Reserve Bank of Chicago), en |
| 12:45 - 14:15 | Lunch |
| 14:15 - 17:45 | Theme 5 Financial stability vulnerabilities and payment systems Chair: Nigel Wicks (Euroclear Group) Marco Galbiati (Bank of England) and Kimmo Soramäki (European Central Bank): ‘A competitive multi-agent model of interbank payment systems’, en, en Discussant: Cornelia Holthausen (European Central Bank), en Andrea Gerali (Banca d'Italia) and Franco Passacantando (Banca d'Italia): ‘The Loss of Confidence in Bank Money in the Great Depression’, en, en Discussant: James Moser (CFTC), en |
| 15:45 - 16:15 | Tea Break |
| 16:15 - 17:45 | Panel Session Panellists: Chair: Alexandre Lamfalussy Alberto Giovannini (Unifortune) Andrew Gracie (Crisis Management Analytics Ltd) Peter Praet (National Bank of Belgium) Daniela Russo (European Central Bank) John Trundle (Euroclear) |
| 17:45 - 18:00 | Concluding remarks Daniela Russo (European Central Bank) |
| approx 18:00 | Close of conference
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