The conference will mainly focus on the role of borrower-based macroprudential measures in times of the global pandemic, and prospects for the future use of these measures. The topics will include the calibration of borrower-based measures through the cycle, their effectiveness in managing the impact of COVID-19 during both slow-downs and upturns of the housing market, as well as discussion of potential future developments, such as a more harmonised and targeted application of borrower-based measures and their role in mitigating climate-related financial risks. The conference will also feature presentations based on international case studies, academic and relevant policy research.
Participants: officials and experts from central banks, supervisory and macroprudential authorities, academic institutions, as well as international and supranational institutions (e.g. the BIS, ECB, ESRB, European Commission, IMF and OECD) with interest and practical experience in macroprudential policy-making.
Due to the ongoing pandemic, the conference will be held online. Registration is not required. The conference will be livestreamed (the link to the livestream will be available on this web page).
The two-day conference will be divided into five sessions. Each session will be led by a moderator (chair) and three or four speakers. Each of the speakers will deliver a slide presentation of 15–20 minutes addressing the session’s theme, which will then be followed by a panel discussion and Q&A from the audience.
Speakers Biographies (468.5 KB download icon)
Day 1 Programme
| 13:00–13:20 |
Opening remarks – Gediminas Šimkus, Chairman of the Board, Bank of Lithuania |
| SESSION 1 | BORROWER-BASED MEASURES: CYCLICAL OR PREDOMINANTLY STRUCTURAL INSTRUMENTS? |
|
13:20–14:20 |
Moderator – Sandra Frimann-Clausen, Senior Adviser, Finansinspektionen Speakers: Erlend Nier, Deputy Division Chief, Monetary and Macroprudential Policies Division, IMF Marek Licák, Director of Macroprudential Policy Department, National Bank of Slovakia |
| 14:20–14:50 |
Panel discussion and Q&A |
| SESSION 2 | COUNTRY EXPERIENCES WITH HOUSING MARKET FLUCTUATIONS DURING THE PANDEMIC: ASSESSING THE ROLE OF BORROWER-BASED MEASURES |
| 14:50–15:50 |
Moderator – Tuomas Peltonen, Deputy Head of ESRB Secretariat, ESRB Speakers: Libor Holub, Deputy Executive Director, Financial Stability, Czech National Bank Duncan Mills, Adviser, Financial System Policy & Analysis, Reserve Bank of New Zealand Thomas Sangill, Head of Systemic Risk - Analysis and Policy, Danmarks Nationalbank |
| 15:50–16:20 |
Panel discussion and Q&A |
| 16:20–16:30 |
End of conference Day 1 |
Day 2 Programme
| 09:00–09:10 |
Opening remarks – Gediminas Šimkus, Chairman of the Board, Bank of Lithuania |
| 09:10–09:40 | Keynote speech – Sharon Donnery, Deputy Governor, Central Bank of Ireland Presentation (1.3 MB download icon) |
| SESSION 3 | Policy discussion. UNTAPPED POTENTIAL: ENHANCING THE FRAMEWORK OF BORROWER-BASED MEASURES |
|
09:40–10:40 |
Moderator – Simonas Krėpšta, Member of the Board, Bank of Lithuania Speakers: Sharon Donnery, Deputy Governor, Central Bank of Ireland Francesco Mazzaferro, Head of ESRB Secretariat, ESRB Ralf Jacob, Head of Unit, Macroprudential Policy, DG FISMA European Commission Luís Laginha de Sousa, Member of the Board of Directors, Banco de Portugal |
| 10:40–11:10 |
Panel discussion and Q&A |
| SESSION 4 | SIDE EFFECTS OF BORROWER-BASED MEASURES AND HOW TO MITIGATE THEM: INEQUALITY AND DISTRIBUTIONAL EFFECTS |
| 11:10–12:10 |
Moderator – Katja Taipalus, Head of Financial Stability and Statistics Department, Bank of Finland Speakers: Luiz de Mello, Director, Policy Studies Branch, Economics Department, OECD Pierre Monnin, Senior Fellow, Council on Economic Policies Nitzan Tzur-Ilan, Research Economist, Federal Reserve Bank of Dallas |
| 12:10–12:40 |
Panel discussion and Q&A |
| 12:40–13:30 |
Lunch break |
| SESSION 5 | CLIMATE-RELATED RISKS – THE POTENTIAL ROLE OF BORROWER-BASED MEASURES |
| 13:30–14:30 |
Moderator – Tomas Garbaravičius, Advisor to the Deputy Chair of the Board, Bank of Lithuania Speakers: Paul Hiebert, Head of Division, Systemic Risk & Financial Institutions, ECB Stijn Claessens, Head of Financial Stability Policy and Deputy Head of the Monetary and Economic Department, BIS Presentation (840.8 KB download icon) |
| 14:30–15:00 | Panel discussion and Q&A |
| 15:00–15:10 | End of conference, closing remarks |