Stefan Ingves: Fixing Finance - Events - IIEA - The Institute of International and European Affairs

No comments

About this Event

27 Oct 2009 @ 12:45

The Financial Crisis - The Way Out And The Way Forward

Audio Podcast:

Download the audio podcast for this event here.

About the speaker:
Stefan Ingves is Governor of the Sveriges Riksbank (the Swedish central bank). A member of the European Central Bank General Council and the Board of the Bank for International Settlement, he is also Sweden’s Governor in the International Monetary Fund.

Previously, he served as Director General of the Swedish Bank Support Authority; Director and Head of the Monetary and Financial Systems Department of the International Monetary Fund; and Undersecretary for Financial Markets and Institutions at the Swedish Ministry of Finance. Governor Ingves played a key role in the resolution of Sweden's banking crisis in the early 1990s and is widely recognised as an expert in financial crisis management.

About the event:
Governor Ingves addressed the IIEA on the causes of the current financial crisis, drawing parallels and distinctions from previous episodes. With regard to resolving issues in the banking sector, he emphasised the need for a realistic and transparent evaluation system to be applied to troubled institutions and assets in order to quickly recognise losses and move forward. In the European context, he discussed at length the proposed new supervisory framework for financial markets and institutions and gave an overview of likely changes in the area of regulation. Observing that markets often seem to function worst when we need them most, he called on those involved in financial governance to co-ordinate and co-operate as much as possible so as to ensure a robust and timely response to the next financial crisis.

Views: 1199