Program

Program day 1

Program

Day 1:

New dynamics of financial markets in Latin America and beyond

08:00

Registration and breakfast

08:30

Chairperson's opening remarks

08:40

Global economic outlook: what can we expect in international and domestic markets?

  • Financial markets in changing times - new challenges for an already complex environment
  • Latin America’s financial resilience
  • Increased geo-political risks on the horizon and how best to balance vulnerabilities
  • Economic prospects for 2019 and beyond  
09:15

The US economy in 2019: recent policy developments and the longer term challenges

  • Monetary policy developments in the United States and the evolving longer-term challenges
  • How vulnerable is the global economy to a synchronised slowdown from both US and China?
  • What type of policies must countries pursue to build resilience?
  • Assessing the effect of US monetary policy normalization on Latin American economies
09:50

Globalisation; US engagement; EU integration – peak, plateau or plunge?

  • Divergences across developed and emerging currency, fixed-income and equity markets
  • Outlook for the combined impact of demographic, technological and structural economic on real economic growth
  • Major challenges and possibilities for the investment industry
  • Asset growth and performance drivers for active management and factor-based, smart-beta strategies
10:25

Networking break

10:55

The changing investment environment and portfolio implications

  • Is the investment environment in a transition?
  • Do central banks need to reconsider their asset allocation strategies in light of this transition?
  • Is it time to add more alpha strategies?
11:30

Strategic asset allocation: peering into the future with the help of market prices

  • Financial markets and the unprecedented challenges faced by reserve managers
  • Banco de México’s reassessment of the priorities of reserve management towards the preservation of capital
  • Rethinking the way to analyse asset class returns and the co-dependence of asset classes
  • The necessary steps to determine SSA
12:05

Diversifying reserves portfolios: how to get your portfolio fit in 2019 and beyond

  • Reserves management policies and guidelines review – the diversification drive
  • Why investors should consider a regionally diversified portfolio in 2019
  • Securities lending as a diversifying tool
  • How to manage risk when investing in a diversified portfolio
12:40

Lunch

Asset allocation: evolving and adapting to new demands

13:40

Working groups: Identifying good practices in reserve management

Each group will be led by an expert moderator, providing participants with an opportunity to delve deeper into the key questions they are facing.   

  • Current trends and challenges in reserve management 
    - This group will discuss some of the main trends in reserve management practices and will explore some of the challenges ahead
  • Reinventing fixed income markets 
    - How How are fixed income markets changing? What factors are driving change – in different markets and geographies’? Led by an experienced market practitioner, this group will look forward at credit dynamics from the perspective of a reserve manager
  • Factor based investing in times of unconventional central bank policies 
    - This group will explore which factors might be favoured if monetary policy becomes more restrictive and interest rates finally increase?
14:30

Session outline to be confirmed 

15:05

Networking break

15:35

Greening the financial system – the new role of central banks

  • Environmental, Social and Governance (ESG) – the next wave of integration
  • Incorporating ESG factors into the decision-making process
  • How ESG can enhance investment returns over the long term 
  • Green and sustainable bonds – a key part of the ESG toolkit
  • The current difficulties associated and how it demands a multifaceted approach
  • Building climate-related risks into our financial system review process
16:10

Portfolio and risk management for central banks

  • Active portfolio management and portfolio construction
  • Diversifying market and default risk in high grade bond portfolios
  • Optimal active portfolio management and relative performance drivers
  • Hedging inflation risk with domestic investment in a developing economy
16:45

Chairperson's closing remarks

16:50

Close of conference

17:30

Depart for gala dinner with dinner speaker (to be confirmed)

Day 2:

Balancing risk and return: the evolution of opportunities 

08:30

Registration and breakfast

09:00

Chairperson's opening remarks

09:05

Modernizing Jamaica’s foreign exchange market: the pivot to inflation targeting - a year on 

  • Jamaica’s economic reform programme and central bank modernisation
  • Fiscal consolidation – from crowding out to crowding in
  • Breaking records off the track – falling inflation, falling interest rates, and a falling current account balance
  • B-FXITT and the making of a modern FX market
09:40

A methodology to measure and monitor liquidity risk in reserves portfolios

  • Monitoring liquidity risk: becoming a priority
  • The methodology which allows central banks to measure liquidity
  • Time needed to liquidate and the cost of liquidation
  • How the methodology can also be used to measure portfolio liquidity under stress scenarios
10:15 Session outline to be confirmed 
10:50

Networking break

11:20

Implementation of the digital fiat currency system

  • Pursuing central bank digital currency as a means to broader market access
  • Project sand dollar: the use of FinTech to enhance financial inclusion
  • Achieving equal, expanded access to modernised digital payments capabilities
11:55

Central bank communication in times of non-standard monetary policies

  • Types and uses of non-standard monetary policy measures
  • Communication as a monetary policy tool
  • Role of communication in non-standard times
  • How should central banks position themselves and prepare for these risks?
12:35

Bracing for challenges and risks ahead: a continued period of change in 2019 and beyond

  • How have markets coped with major events over the past year, and what does that mean for the year ahead?
  • A year of political uncertainty and the challenges associated
  • How to minimise these bouts of political uncertainly and market volatility in the run up to major elections
  • How do new technologies shape the future of central banking?
13:20

Chairperson's closing remarks

13:30

Conference concludes with lunch