The Day After Tomorrow: The Future of Financial Intermediation

For the past 11 years, the National Bank of Romania (NBR), in cooperation with the International Monetary Fund (IMF), has been organizing the regional seminar on financial stability issues. This year’s event took place on 26-27 October 2017 at the NBR headquarters in Bucharest. The seminar’s main objective was to update participants on recent trends and developments in terms of financial sector stability and to provide them with the opportunity to share their country-level experiences in this field.

Thursday, 26 October 2017

Opening Remarks

• Mugur Isărescu, Governor, National Bank of Romania
• Alejandro Hajdenberg, IMF Acting Mission Chief for Romania and Bulgaria

Panel 1: Dealing with Nonperforming Loans

• Chair: Florin Georgescu, First Deputy Governor, National Bank of Romania
• Key Speakers:
  • Dániel Palotai, Executive Director, Magyar Nemzeti Bank - The NPL problem and resolution through Hungarian lenses
  • Marek Mora, Member of the Board and Chief Executive Director, Česká Národní Banka - Dealing with Non-Performing Loans: European versus Czech Perspective

Panel 2: Fintech - Opportunities and Challenges

• Chair: Daniel Dăianu, Member of the Board, National Bank of Romania
• Key Speakers:
  • Elisabeth Noble, Policy Expert, European Banking Authority - FinTech: Looking beyond the label
  • Guntram Wolff, Director, Bruegel Institute - Capital Markets Union and the Fintech opportunity

Panel 3: Regulatory Challenges

• Chair: Alejandro Hajdenberg, IMF Acting Mission Chief for Romania and Bulgaria
• Key Speakers:
  • Pierre Monnin, Fellow, Council on Economic Policies - Interactions between Financial Stability and Inequality: a Challenge for Macroprudential Regulation
  • Cristina Harea, Deputy Governor, National Bank of Moldova - Regulatory challenges in the Moldovan Banking Sector

Panel 4: Research on Financial Stability - Young Professionals

• Chair: Eugen Rădulescu, Director, Financial Stability Department, National Bank of Romania
• Key Speakers:
  • Elena Banu, Economist, Financial Stability Department, NBR - Investigating interactions between the real estate market and mortgage lending
  • Alexie Alupoaiei, Senior Economist, Financial Stability Department, NBR - Non-performing phenomenon and related spillovers on the economic equilibrium
  • Radu Popa, Economist, Financial Stability Department, NBR - Stress-testing the household sector – an estimate of household probability of default using panel micro-data
  • Anca Paraschiv, Economist, Financial Stability Department, NBR - Fintech - Changing the Banking Industry
  • Matei Kubinschi, Senior Economist, Financial Stability Department, NBR - Bank efficiency and staff training policy – evidence from a survey of the Romanian banking sector

Friday, 27 October 2017

Panel 5: Banking Resolution

• Chair: Antonio Carrascosa, Director of Resolution Planning and Decisions, Single Resolution Board
• Key Speakers:
  • Maria Mavridou, Director, Bank Resolution, Bank of Greece - Resolution of Credit Institutions: the Greek experience
  • Krzysztof Broda, Deputy President of the Management Board, The Bank Guarantee Fund, Poland - Challenges of resolution planning

High Level Roundtable on Resolution & Financial Stability

The NBR also hosted a High-Level Roundtable on Resolution and Financial Stability on 27 October 2017, immediately after the seminar. This event brought together senior central bankers and international financial institutions officials to present their strategic views on the future of banking resolution and financial stability.

• Opening remark: Mugur Isărescu, Governor, National Bank of Romania
• Chair: Liviu Voinea, Deputy Governor, National Bank of Romania
  • Keynote speech: Carlos da Silva Costa, Governor, Banco de Portugal - Speech
  • Keynote speech: Bostjan Jazbec, Governor, Bank of Slovenia - Slovenian banking sector - Recent developments and future challenges
  • Keynote speech: Antonio Carrascosa, Director of Resolution Planning and Decisions, Single Resolution Board - Resolution in the Banking Union
• Closing remark: Mugur Isărescu, Governor, National Bank of Romania