The Economist's City Lecture with Trichet

City Lecture

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December 11th 2009
  • Haberdasher's Hall, London

 

The Economist’s second City Lecture of 2009 with Jean-Claude Trichet, President, European Central Bank took place on Friday, December 11th 2009.  This VIP-invitation only event built on the success of our previous city lecture which took place in January earlier this year.

In his speech, entitled ‘The future macro-prudential supervision in Europe’, Jean-Claude Trichet outlined his vision for the European Systemic Risk Board, which is currently being established by the EU and spoke about the European Central Bank's support of this body, the envisaged close cooperation with all EU central banks and supervisors, and the ways in which the ESRB will impact the City of London. Following the speech, there will be the opportunity to ask questions.

 

 

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Previous city lecture

The Economist ‘s inaugural city lecture took place on Wednesday January 21st 2009 in the City of London where Lord Turner, Chairman, Financial Services Authority, addressed an audience of 150 city leaders.

In his speech, entitled ‘The Financial Crisis and the future of financial regulation’ Lord Turner discussed the macroeconomic underpinnings of the crisis and outlined some of the regulatory failures which allowed banks and other financial institutions to increase leverage to unsustainable levels. While warning that no regulatory regime could hope to prevent crises in future, Lord Turner outlined some of the areas of that the FSA and other UK regulatory bodies are focusing on in an effort to craft new rules which will limit financial volatility in future. In particular, he discussed the so called "Spanish model" of monitoring bank capital adequacy, in which capital is built up in good times to provide a buffer against bad times. He also pointed out that the government's capital injections into the UK banking system in 2008 have created scope for banks to run down capital now without breaching regulatory standards.

His address came two months ahead of the review of banking supervision and regulation due for release in March.


Address from Lord Turner, Chairman, Financial Services Authority:

 

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