Interview by Deputy Governor of the Bank of Russia Alexei Simanovskiy for the Interfax news agency
The International Banking Congress held by the Bank of Russia for the 25th time has been renamed the International Financial Congress. Why the decision to change the name?
This has to do with the fact that the Bank of Russia has been operating as a mega-regulator for the past two years, so we decided to broaden the focus of the Congress from just credit institutions to the financial industry as a whole. This year participation will be expanded, with representatives of non-banking credit institutions, insurance companies, pension funds and micro-lenders taking part in our Congress. We were looking for a name that would reflect the historical origins of the Congress, on the one hand, and the new realities on the other. As a result, we came up with this new name: the International Financial Congress. We would like the Congress to become a venue bringing together all segments of the financial industry. It is quite possible that representatives of the banking community might be interested in certain discussions at events dedicated to pension funds or insurance companies. Likewise, representatives of other segments of the financial market might express an interest in banking matters.
Will the Congress format remain unchanged?
In general, yes. The key formats include panel sessions and roundtables. What’s new is that the number of roundtables will be increased and their topics expanded from ‘trade’ roundtables dedicated to various segments of the financial market to focused roundtables for discussing cross-sectoral subjects. For instance, we are planning a roundtable on compliance and substantiated judgment, a subject that concerns both banks and non-banking financial institutions.
Which international financial experts will attend the IFC?
The list includes many high-profile names, such as Economics Nobel Prize winner Nouriel Roubini and Harvard Economics Professor Kenneth Rogoff. Ranking officials from central (national) banks from a number of countries (Switzerland, Croatia, Czech Republic, Kazakhstan, Iran), the Basel Committee on Banking Supervision, the IMF, and European regulatory and supervisory authorities have expressed an interest. The Congress has always been popular among international specialists, experts, and central bank and regulator executives, so 2016 is no exception in this respect.
What roundtables are you planning to take part in?
I’m planning to participate in the plenary session ‘The banking industry: Through hardships to the stars?” and in a banking regulation roundtable, and I am also to moderate a roundtable on financial recovery.
Full interview text: http://www.interfax.ru/interview/508704