Davos 2019 - Resetting Financial Governance

TL;DR

Central bankers and financial experts discuss financial regulation, resilience, and potential risks in turbulent times.

Transcript

so my name is Adam twos of Columbia University and it's my extraordinary pleasure really to welcome you to this panel this evening I think you and it barely needs stressing from my side what a privilege it is to listen to the folks that we have here briefly of course we have Kuroda the governor of the Bank of Japan welcome Mark Carney the governor ... Read More

Key Insights

• 🔠 Stricter financial regulations post-2008 crisis focus on stability, capital requirements, and liquidity buffers.
• 🏦 Central banks emphasize the role of cyber risks, operational resilience, and technological innovations in shaping future financial governance.
• ❓ Panel discussion highlights the importance of protecting achieved financial reforms against potential dilution.

Questions & Answers

Q: How have financial regulations evolved post-2008 crisis, and what are the key areas of focus?

Post-2008, financial regulations have increased capital requirements, liquidity buffers, and addressed 'too big to fail' issues, focusing on stability and resilience.

Q: How do central banks view future financial challenges, such as cyber risks and operational failures?

Central banks recognize cyber risks as crucial threats to financial stability, along with operational failures, emphasizing the need for preparedness and resilience.

Q: What role do big tech and cryptocurrencies play in disrupting the banking sector, and how are regulators responding?

While big tech and cryptocurrencies like Bitcoin have limited impact on banking, their underlying blockchain technology offers potential for enhancing financial transactions with proper regulation.

Q: How is the shift towards cloud-based storage impacting financial services, and what risks does it pose?

Cloud migration offers efficiency, but concerns over systemic risks arise due to data security and portability issues, necessitating stringent standards and risk assessments.

Summary & Key Takeaways

• Panel discusses financial resilience post-2008 crisis, emphasizing the importance of maintaining achievable reforms.

• Highlighting the need for regional financial regulations to avoid global financial crises and promote stability.

• Addressing the challenges posed by emerging fintech, financial conduct issues, and the impact of disruptive technologies.