Symposium Plan

Warwick Symposium on Banking Law

Managing Systemic Risk

The current financial crisis has generated a considerable amount of debate about systemic risk and how best in the future it should be managed. This Symposium will provide an opportunity to explore some of the key concerns in that debate. The speakers will present and discuss topics such as: what is systemic risk, sovereign debt, narrow and complex banking, Islamic banking, cross-border bank and non bank failures, financial crisis containment, individual country case studies reflecting on the performance of the official safety net players, and finally proposals for reform and the way ahead. For instance, is there a need for greater public sector involvement in shaping how financial markets operate? Finally, this scholarship will go some way to plug the gap in our knowledge and understanding of the law of systemic crises, through the production of an innovative, international and interdisciplinary collection of work which links both the policy and legal issues surrounding systemic crises.

Please find the program on the next page. The Symposium sessions will take place in the Lecture Theatre at Scarman House on Gibbet Hill Road (no. 48 on the campus map).

For more information, please visit the following link:

http://www2.warwick.ac.uk/fac/soc/law/events/managing_systemic_risk

	SYMPOSIUM PROGRAMME
	DAY ONE - 7 April 2010
8.30	Registration
9.15	Welcome Vice-Chancellor Nigel Thrift
9.30	Opening Remarks John Raymond LaBrosse, Rodrigo Olivares-Caminal and Dalvinder Singh
9.45	Keynote Addresses Jack Selody Advisor to the Governor of the Bank of Canada The Nature of Systemic Risk
10.15	Q&A
10.30	Coffee Break
Session I 11.00	Systemically Important Banks and Too Big To Fail/Too Interconnected To Fail Chair: Wai Keen Lai Malaysia Deposit Insurance Corporation Eva Hüpkes Financial Stability Board Defining the Problem and Challenges Ahead Larry D. Wall, David G. Mayes and Maria Nieto Atlanta Federal Reserve / Europe Institute, University of Auckland / Banco de España Creating an EU Level Supervisor for Cross-Border Banking Groups: Issues Raised by the U.S. Experience with Dual Banking Ioannis Kokkoris Office of Fair Trading, UK The EU Response: the EU decision to dismantle banks that have had state aid during the crisis?
12.00	Q&A
12.30	Lunch
2.00	Keynote Address Arnór Sighvatsson Deputy Governor of the Central Bank of Iceland The Icelandic Case: The Sovereign View
2.30	Q&A
Session II 2.50	Measuring the Impact of Prudential Requirements on the Macro-economy Chair: Charles Enoch International Monetary Fund Marcus Miller University of Warwick [presentation title: tbc] Kern Alexander University of Zurich Which Future Model for Europe? Geoffrey Wood and Ali Kabiri City University / University of Buckingham Firm Stability and System Stability: The Regulatory Delusion Richard J. Rosen Federal Reserve Bank of Chicago Too Much Right Can Make a Wrong: Setting the Stage for the Financial Crisis
4.30	Q&A
5.00	End of Day One
7.00	Dinner

DAY TWO – 8 April 2010
9.00	Keynote Address George Kaufman Loyola University Chicago Why Regulators Want New Financial Institution Insolvency Resolution Powers?
9.30	Q&A
Session III 9.45	Systemic Risk: The case of Large Financial Institutions Chair: Allan Popoff European Bank for Reconstruction and Development Emilios Avgouleas The University of Manchester The Reform of "Too-Big-To-Fail" Bank: A New Regulatory Model for the Institutional Separation of "Casino" from "Utility" Banking Rosa M. Lastra and Rodrigo Olivares-Caminal Queen Mary University & Warwick University From Consolidated Supervision to Consolidated Resolution Jens-Hinrich Binder Albert-Ludwigs-Universitaet Freiburg ‘Too Big To Fail’: Can Alternative Resolution Regimes Really Address Systemic Risk in Large Financial Institutions Insolvency?
10.20	Q&A
10.30	Coffee Break
Session IV 10.45	Enhancing the Resilience and Stability of the Islamic Financial Systems Chair: Shaheen Sardar Ali University of Warwick Syed Othman Alhabshi Dean of the International Centre for Education in Islamic Finance (INCEIF) Managing Unique Risks in Islamic Finance Rustam Mohd Idris Bank Negara Malaysia Contemporary Development in Islamic Finance Jean Pierre Sabourin Chief Executive Officer, Malaysia Deposit Insurance Corporation Islamic Deposit Insurance System: The Malaysian Model
11.45	Q&A
12.00	Lunch
Session V 1.30	Capital & Liquidity Reforms Chair: Monica Aparicio Fondo de Garantías de Instituciones Financieras (Colombia) Joseph J. Norton and Douglas Arner SMU / Hong Kong University Basel III: Capital, Leverage, Liquidity Peter Brierley Bank of England The UK Special Resolution Regime for Failing Banks in the International Context Dalvinder Singh University of Warwick The Role and Function of the Financial Stability Committee: A European Study Robert Bliss Wake Forest University Stampeding Counterparties: The Problem of Customer, Wholesale Funding, and Derivatives Runs
2.30	Q&A
2.45	Coffee Break
3.10	Keynote Address Jean Pierre Sabourin Chief Executive Officer, Malaysia Deposit Insurance Corporation Deposit Insurer’s role in transitioning from a Government Deposit Guarantee
3.40	Q&A
5.00	End of Day Two Special Activity Dinner and Theatre Function

DAY THREE – 9 April 2010
Session VI 9.00	Market Structures & Systemic Risk Chair: Sigborn Berg Norges Bank Jean Roy HEC Montréal Why is the Canadian Banking System so Remarkably Stable? Arthur E. Wilmarth Jr. George Washington University The Case for a Systemic Risk Insurance Fund Mark Salmon Warwick Business School [presentation title: tbc] Andreas Jobst and Dale Gray International Monetary Fund Systemic Contingent Claims: A Model Approach
10.00	Q&A
10.15	Coffee Break
Session VII 10.30	Systemic Crises and their Impact on Sovereign Accounts Chair: Anna Gelpern George Washington University Mitu Gulati and Lee Buchheit Duke University / Cleary Gottlieb Steen & Hamilton Systemic Crises and Sovereign Debt Crises Thomas Laryea Assistant General Counsel, IMF The Relationship between Private Debt and Sovereign Debt in Systemic Crises Rodrigo Olivares-Caminal Sovereign Debt Expert, UNCTAD – University of Warwick Systemic Crises, Defaults and Opportunistic Defaults: The Need to Promote Responsible Sovereign Borrowing and Lending Philip Wood Senior Global Counsel, Allen & Overy Where From—Where To: Can Sovereigns go Bankrupt?
11.50	Q&A
Session VIII 12.00	Tools for Containment Chair: ___________ _________________________ Gillian G. H. Garcia Gillian G. H. Garcia Associates TARP & Co.: Forbearance as Far as the Eye Can See Anna Gelpern George Washington University Boundary Failure in Crisis and Reform Matt Lucas Financial Services Authority Living Wills
1.00	Q&A
1.15	Lunch Break
Session IX 2.15	Dealing with Systemic Crises: Country Case Studies Chair: Hugo Libonatti Bank Saving Protection Insurance of Uruguay John Raymond LaBrosse Patterson & LaBrosse Financial Consultants, Canada Canadian Financial Safety Net Heidi Schooner Catholic University of America US Financial System Safety Net: Prospects for Reform Wai Keen Lai Malaysia Deposit Insurance Corporation Malaysia Safety Net Ganiyu Ogunleye Jaffa Consulting Limited Reforming the Nigerian Financial Safety Net
3.30	Q&A
4.00	Coffee Break
Session X 4.30	Where Do We Go from Here? Chair: ________________ David Walker Canada Deposit Insurance Corporation John McEldowney University of Warwick John Snape University of Warwick Andrew Campbell University of Leeds
5.00	Q&A
5.50	Concluding Remarks
6.15	End of the Symposium

For more information, please visit the following link:

http://www2.warwick.ac.uk/fac/soc/law/events/managing_systemic_risk

Symposium information

Registration

To take part in this Symposium please complete the attached Booking Form as soon as possible. Places are limited and will be allocated on a first-come, first-served basis.

Cost (including accommodation and meals):

Corporate Fee: £ 625 (£525 if registered before 15 January 2010).

Academic Fee: £ 450

Student Fee: £ 350

Accommodation

Three night on-campus accommodation is included in the symposium fee. Additional nights may be reserved separately at an additional cost on the booking form, if available. The University has a series of venues equipped with state-of-the-art facilities that are perfect all year round for residential meetings and academic/training eventsincluding a choice of 33 meeting rooms and 90 syndicate rooms with comfortable en-suite bedrooms. Additionally there are inviting bars, relaxing lounges and award winning food all located in stylish surroundings.

Please contact Jennifer Wilson for more details: J.C.Wilson.@warwick.ac.uk

Travelling to the University of Warwick

Comprehensive information on how to get to the University of Warwick can be found at http://www2.warwick.ac.uk/conferences/aboutus/gettinghere. Please find below a brief description on how to get here by rail, car or air.

By Rail

The nearest station is Coventry however the Chiltern line runs from Warwick Parkway and Leamington Spa stations from which you will have to get a taxi to

campus, approximate journey times 15 minutes from Warwick Parkway and 25 minutes from Leamington Spa. Approximately 12 minutes by taxi from Coventry Railway Station.

Alternatively, take the Travel West Midlands number 12 from the Warwick Road Bus Stop. When you pass through the ticket barrier at Coventry Station please take your first left following a footpath to the bus stop on the bridge of Warwick Road. Buses leave this bus stop frequently for the University and the journey time is approximately 20 minutes.

The number 12 bus travels through central campus. If your destination is the Rootes Building, once on central campus get off at the third stop and the Rootes Building is directly in front of you.

For further information please see: http://www.travelwm.co.uk/

By Car

From the North/East

- From M69 /M6 interchange (M6 Jct 2) take A46 towards Warwick and Coventry S & E.

- After approx 3.5 miles you will reach Tollbar End roundabout (junction with A45). At the roundabout, follow signs for A45 Birmingham.

- After approx 3 miles you will cross the A429 (Kenilworth Road). Half a mile after this junction take the left-hand turn signposted ‘University of Warwick’ (Fire Station on left, Police Station on right). Follow signs for University of Warwick (and Warwick Arts Centre) across two roundabouts. You are now approaching The University of Warwick from Kirby Corner Road.

From the South East

- From M45 Jct 1 take A45 towards Coventry.

- After approx 7 miles you will reach Tollbar End roundabout (junction with A46) follow signs for A45 Birmingham.

- Now follow the directions given in the third bulletpoint above.

From the South

- From M40 Jct 15 take A46 towards Coventry.

- After approximately 8 miles leave A46 at junction signposted ‘University of Warwick’ and turn left.

- Take the second exit at the mini roundabout and continue for a further mile on the Stoneleigh Road, crossing the A429 Kenilworth Road.

You are now approaching The University of Warwick from Gibbet Hill Road.

From the West

- From M42 Jct 6 take A45 towards Coventry.

- After approximately 9 miles you will pass a large Sainsbury’s store on your left. At the next roundabout (Fire Station on right, Police Station on left), take the right-hand exit, signposted ‘University and Canley’.

- Follow signs for University of Warwick (and Warwick Arts Centre) across

two roundabouts. You are now approaching The University of Warwick from Kirby Corner Road.

By Air

Approx 30 minutes by road from Birmingham International Airport, 1 hour from Nottingham East Midlands Airport, 2 hours from Luton Airport and 15 minutes from Coventry Airport. If you arrive at Heathrow or Gatwick, you will have to either get a National Express coach from the airport to Coventry and then a taxi or combine with the train option described above. For times and fares of National Express, please visit:

http://www.nationalexpress.com/coach/index.cfm