The bank failures at Credit Suisse and Silicon Valley Bank last year underscored the overall resilience of the financial system. However, the bank resolution framework went unused in the Credit Suisse example and the SVB liquidity gap highlights that there is room for improvement in the regulatory system. What lessons can we draw from the Credit Suisse and SVB episodes to fine tune the regulatory framework while keeping the financial system safe and sound during times of stress? At the same time, risk concentration is increasing in the nonbank sector. What regulation is required to prevent a potential crisis stemming from outside the banking regulatory perimeter?
Panelists:
- William C. Dudley, Chair, BWC; Former President and CEO, Federal Reserve Bank of New York
- Colm Kelleher, Chairman, UBS Group AG
- Chia Der Jiun, Managing Director, Monetary Authority of Singapore
- Emily Slater, Executive Director, Bretton Woods Committee (Moderator)