Agenda

Agenda

Agenda

Day 1 | Theme: Shaping the future of central banks: reversal of unconventional monetary policies, structural transformation and the digital future

 

09:00

Registration and breakfast

08:40

Welcome address:  Jennifer Johnson-Calari

08:50

The changing landscape of financial markets in Europe and beyond

  • The economic situation: inflation, political instability and slowing growth
  • Has quantitative easing ruined the investor landscape? 
  • The prospects for economic growth in 2019 
  • Trade conflicts and political uncertainty: difficulties governments face in ensuring that economic growth

09:35

The consequences of Brexit for European financial sectors

  • How will ‘Brexit’ impact the financial services sector?
  • Short term focus – developments in the Brexit negotiations and how to effectively manage risks 
  • Beyond Brexit, building a financial Eurosystem
  • The ability to enhance Europe’s real economy 

10:15

Morning networking break

10:45

Challenges for reserve managers in an ever evolving environment

  • How have markets changed over the past 12 months?
  • What questions do these changes pose for reserve managers?
  • How are reserve managers responding, within the confines of our public policy objectives?

11:25

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
  • How to manage risk when investing in a diversified portfolio

12:15

The changing landscape of financial markets in Europe and beyond

  • The economic situation: inflation, political instability and slowing growth
  • Has quantitative easing ruined the investor landscape? 
  • The prospects for economic growth in 2019 
  • Trade conflicts and political uncertainty: difficulties governments face in ensuring that economic growth

12:55

Lunch

Stream 1 - Reserve management in focus

14:25

How are reserve managers evolving their portfolios for 2019?

  • Assessing implications for reserve portfolios
  • How have market dynamics been driving change in reserve portfolios?
  • How low yields have reserve managers looking for fixed income alternatives

15:05

Reserve management trends and implications for currencies

  • Growing trends in reserve management practices
  • Changes in the currency composition of reserve portfolios against a background of rising trade tensions 
  • Exploring the challenges ahead  

15:45

The development of the central bank’s balance sheet

  • The Riksbank’s balance sheet: how large should it be in the future?
  • Risks associated from a central bank standpoint 
  • The framework of the monetary policy steering system 

Stream 2 - Risk management in focus

14:25

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

15:05

Opportunity and uncertainty in a dynamic market: liquidity, execution and regulation

  • What value have non-bank liquidity providers added to market flows, and are there any downsides to their rise?
  • Emerging market exchanges: the need to enhance liquidity
  • What themes will dominate the trading agenda over the next 12 months?  

15:45

How do central banks manage risks?

  • To what extent risk management can develop a truly holistic approach
  • The certain areas which are still considered outside the risk manager’s remit
  • The approaches central banks take to risk and what lessons can learned from experience

16:25

Afternoon break and opportunity to network

16:55

WORKING PARTIES: Central bank digital currency: Known risks and benefits

  • CBDC: the potential to revolutionise monetary policy 
  • Should Central Banks Issue Digital Currencies? And if so, how?
  • The impact on financial stability, Monetary policy and reserve management departments 
  • How CBDC’s have the ability to strengthen the transmission of monetary policy changes to the real economy

WORKING PARTIES: What can central banks do to prevent cyber-attacks?

  • Banking’s cybersecurity blind spot—and how to fix it
  • Regulatory approaches to enhance banks’ cyber-security frameworks
  • Impacts of cyberattacks on financial institutions 
  • How to engage cyber risk effectively

17:45

Summary of the working parties

18:00

Closing address: Jennifer Johnson-Calari

18:10

Networking reception

 

Central Banking Awards ceremony and dinner

  • Celebrate the winners of the Central Bank and Market Practitioner Awards
  • On stage interview with Chris Jeffery, Editor of Central Banking Journal, and the winner of the 2019 Lifetime Achievement Award

Day 2 | Theme: Rethinking risk management as policies change and markets evolve

08:00

Registration and breakfast

08:40

Welcome address:  Jennifer Johnson-Calari

08:45

Outlook on central bank risk management in a changing macro environment

  • Central bank risk management in a changing institutional and regulatory environment
  • The prudent management of central bank balance sheets
  • Risk management and the co-ordination of supervisory and monetary policy mandates

09:30

Investment risk management in a world of low volatility and returns

  • Balance of payments and international investment position
  • Understanding the volatility of investments and potential for returns
  • Possibility of abrupt shifts in global financial conditions due to market’s reassessment of risks
  • A forward focus on the long term and counter-cyclical rebalancing

10:10

Morning networking break

10:40

Environmental, Social and Governance (ESG) Criteria – how to structure the portfolio

  • ESG’s and green financing’s place in investment portfolios 
  • How to incorporate an ESG policy into an investment portfolio
  • ESG insights and perspectives: addressing multiple objectives
  • The current difficulties associated with ESG and how it demands a multifaceted approach 

11:20

Trade barriers, economic and political crises: what lies ahead

  • Fast-evolving and unpredictable external forces
  • Determination to the changes brought about by globalization, technological innovation, and demographic trends
  • Global growth forecast: slowing as a result of the US-China trade war

12:00

Lunch

Reserve management in focus

13:30

Turmoil in Emerging markets: rising debt, regime change and precarious long-term prospects

  • How is political and economic activity influencing the market?
  • Why are there extreme moves in EM currency pairs?
  • What are the prospects of emerging markets?

14:10

Global trade and economic growth in 2019

  • Trade policies promoted by major economies: an environment of trade protectionism
  • Avenues to enhance return
  • A focus on traditional sovereign assets
  • How central banks can realign their strategic asset allocations to fully benefit from rising interest rates in the US 

Risk management in focus

13:30

The forces driving the increased demand for alternatives

  • Increasing demand to be exposed to equities: diversifying from the pure fixed income
  • How investment strategy diversification is leading to a more segmented approach
  • Volatility of global macroeconomic conditions

14:10

How to prepare yourself for mid and long term risks for your asset allocation strategies

  • Current economic trends shaping regional and global investment strategies
  • What political risks mean for sovereign investors?
  • How this is affecting the asset allocation decisions?
  • What are the emerging and longer term risks that sovereign investors be aware of?

14:50

Afternoon break and opportunity to network

15:20

Summary of the streams

15:40

WORKING PARTY: Bracing for changes and challenges ahead - the outlook for 2020

  • 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 with risk premia 
  • 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?

16:10

Summary of the working party

16:55

Closing address: Jennifer Johnson-Calari

17:00

Networking reception