The third annual Frankfurt Finance Summit will take place March, 2013 at the Deutsche Bundesbank (German Federal Bank). Attending will be some 170 central bank governors, banking and securities regulators, and representatives of the finance industry from 19 countries to discuss the future of the euro and how regulation and crisis management affect the world’s financial economy. The Summit is in English and will be broadcast live over the Internet at: www.frankfurt-main-finance.com/stream
The Frankfurt Finance Summit underscores the importance of Frankfurt as a centre for financial stability and banking regulation in the euro zone. Not only the European Central Bank (ECB) head quartered in Frankfurt, but also the Financial Stability Board (FSB) and the European Insurance and Occupational Pensions Authority (EIOPA). Beginning in 2014, the Single Supervisory Mechanism, hosted by the ECB, will also be based in Frankfurt.
Under the theme TOTAL IMPACT – how regulation and crisis management will change the world’s financial landscape, the Summit will address the major challenges of the regulation, whose consequences are not always clear or intentional. Dr. Lutz Raettig, Chairman of the Executive Board of Frankfurt Main Finance, explains by way of example that, “European banks increasingly focus on their domestic markets. However, this alleged increase in security is pitted against the growing risk for European countries, the banks themselves and economic development.” According to Raettig, it is worth considering how this trend towards renationalisation could be reversed. Wolfgang Hartmann, Chairman of the Board of the Frankfurt Institute for Risk Management and Regulation explains, “Risk management will and must remain at the centre of public discussion for quite some time. Experts and managers would do well to better understand the experiences of the crisis.”
Panel I: The Future of the European Monetary Union
Panellists will discuss whether the banking union is the right path to a lasting solution to the financial and debt crisis, if the supervision of European banks is in the right hands with the ECB, and the role of Germany in a possible two-speed Europe. Among the speakers are Christine Lagarde, Director of the International Monetary Fund, German Finance Minister Wolfgang Schäuble and Deutsche Bundesbank President Jens Weidmann.
Panel II: New capital requirements and their consequences
The second panel of the day is concerned with whether the new capital requirements for banks are in fact likely to create a more stable foundation for the international banking system and prevent future financial crises. Another important question is how these requirements will affect growth and the real economy. Speakers on this panel include Anshu Jain, Co-CEO of Deutsche Bank, Dr. Károly Szász, President of the Hungarian Financial Supervisory Authority and Prof. Klaas Knot, President of De Nederlandsche Bank.
Panel III: The new regulatory framework in practice
Will the unified supervisory mechanisms within the ECB improve bank supervision? Is the new framework impossible to master because it is too complex? And how does a two-tier banking system enhance stability? These questions and more will be addressed by Luc Frieden, Minister of Finance of Luxembourg, Dr. Elke König, BaFIN President, Steven Maijoor, Chairman of the European Securities and Markets Authority and Andreas Dombret, Member of the Board of Deutsche Bundesbank.
The complete program is available here for download: www.frankfurt-main-finance.com/stream
The Frankfurt Finance Summit has established itself as a fixture on the subject of banking regulation and financial stability. The Summit is organized and hosted by Frankfurt Main Finance and the Frankfurt Institute for Risk Management and Regulation (FIRM). The fourth Frankfurt Finance Summit will be held in March 2014.