The Lender of Last Resort: An International Perspective
Featuring keynote remarks by Federal Reserve Vice Chairman Stanley Fischer
February 10, 2016, 9:00am-12:00pm
The Committee on Capital Markets Regulation will host a conference on the role of the lender of last resort in preventing and responding to the system-wide liquidity stress as experienced in 2008. The discussion will take an international perspective, comparing the different powers and practices of the Bank of England, Bank of Japan, European Central Bank, and Federal Reserve.
Attendees will include business leaders, policy analysts, and leading academics. At 9:00 AM, the conference will open with a forty-minute introduction featuring four keynote speakers. The keynotes will be followed by two, one-hour discussion panels.
9:00 AM – Keynote Speakers
Stanley Fischer
Vice Chairman
Federal Reserve Board
of Governors
Hiroshi Nakaso
Deputy Governor
Bank of Japan
Peter Praet
Executive Board Member,
Chief Economist
European Central Bank
Chris Salmon
Executive Director for Markets
Bank of England
9:45 AM – Session 1: Implementation & Operational Aspects of LOLR
Thomas C. Baxter, Jr.
Executive Vice President and General Counsel
Federal Reserve Bank of New York
Michael D. Bordo
Professor of Economics; Director for the Center for Monetary & Financial History
Rutgers University
Mark A. Carlson
Senior Economist
Bank of International Settlements
Dietrich Domanski
Head of Policy Analysis
Bank of International Settlements
11:00 AM – Session 2: LOLR Governance: Accountability & Necessary Powers
Viral V. Acharya
CV Starr Professor of Economics
NYU Stern School of Business
Donald L. Kohn
Former Vice Chairman
Board of Governors
Federal Reserve System
Rosa M. Lastra
Professor of International Financial & Monetary Law
Queen Mary, University of London
Paul Tucker
Former Deputy Governor
Bank of England
* To read Stanley Fischer’s keynote address from the event, click here.