Macro-prudential policy workshop, Wellington

On 21 March 2011, the Reserve Bank of New Zealand hosted a workshop on Macroprudential Policy.

Macroprudential policy is the utilisation of tools (often prudential tools) for the purposes of enhancing financial stability and macroeconomic stabilisation. A prominent example is the recent BCBS proposal for a countercyclical capital ratio. The prospect of macroprudential policy raises issues around purpose, design, governance, and interaction with other policy tools.

Organising Committee

David Hargreaves
Bernard Hodgetts

Programme

Date: Monday 21 March 2011
Location: Reserve Bank of New Zealand

8.15am

Registration and tea/coffee



8.45am

Welcome and opening

Governor Alan Bollard (RBNZ)



Session 1




9.00am

Bank Failures and the Cost of Systemic Risk: Evidence from 1900-1930 (PDF 462KB)

Paul Kupiec (FDIC)

9.30am

Discussant: Andrew Coleman (Otago/MOTU)
Slides (PDF 284KB)

General discussion



9.55am

Systemic Risk Contributions (PDF 340KB)

Slides (PDF 555KB)

Haibin Zhu (BIS)

10.25am

General discussion



10.50am

Morning tea



Session 2




11.10-11.40pm

Macroprudential instruments for New Zealand: A preliminary assessment (PDF 535KB)

Bernard Hodgetts and Yuong Ha (RBNZ)

11.40am

Discussant: Shamubeel Eaqub (NZIER)

General discussion



12.05pm

Lunch



Session 3




1.15pm

Panel Discussion

Macroprudential policy and macroeconomic stabilisation.

Gordon Thiessen (former Governor, Bank of Canada) remarks (PDF 97KB)

Ryoo Sang Chul (Bank of Korea) presentation (PDF 516KB);

David Mayes (Auckland) presentation (PDF 117KB)

David Tripe (Massey) presentation (PDF 194KB)

General discussion.



2.45pm

Complexity, Concentration and Contagion

Prasanna Gai (Auckland) (joint with Andy Haldane and Sujit Kapadia (Bank of England))

Paper

3.15pm

Discussant: David Hargreaves (RBNZ)

General discussion



3.40pm

Afternoon tea



Session 4


4.00pm

Financial Imbalances and Financial Fragility (PDF 676KB)

Frederic Boissay (ECB)

4.30pm

Discussant: Marion Kohler (RBA)

General discussion



4.50pm

Closing comments

Deputy Governor Grant Spencer



5.00pm

Finish