Toronto Centre Podcasts

Latest Episodes:

Ep. 150: Digitalization in Finance Jul 03, 2024

Show notes

This was the second webinar of the series on the revised Core Principles for effective banking supervision.

Advances in digitalization and financial technology continue to affect the landscape of the financial system, including the provision of banking services.

The Core Principles for effective banking supervision (BCP) have been amended to reflect the impact of new risks, including risks relating to the ongoing digitalization of finance.

The panel discussed regulatory and supervisory implications of innovative technologies and their applications, as well as new competitors and business models.

Speakers:

Socorro Heysen, Superintendent, Banks, Insurance and Pension Fund Administrators, Peru; Board Member, Toronto Centre

Francesca Hopwood Road, Head, BIS Innovation Hub, London Centre

Moderator:

Jennifer Elliott, Advisor, Monetary and Capital Markets Department, IMF; Board Member, Toronto Centre

https://www.torontocentre.org/

Ep. 149: Financial Risks and Macroprudential Supervision Jun 25, 2024

Show notes

This was the first webinar of the series on the revised Core Principles for effective banking supervision.

The post-Global Financial Crisis (GFC) period has seen banks continue to build their resilience to financial risks, underpinned by stronger regulatory and supervisory frameworks, including the Basel III standards. The Core Principles for effective banking supervision have been strengthened to reflect key elements of many of the post-GFC reforms introduced by the Basel Committee on Banking Supervision.

This panel focused on the experience with macroprudential regulation, supervision, and tools across jurisdictions.

Speakers:

Nathalie Aufauvre, Secretary General, L'Autorité de contrôle prudentiel et de résolution (ACPR), Banque de France

Bill Coen, Former Secretary General, Basel Committee on Banking Supervision; Board Member and Chair, Finance, Audit and Risk Committee, Toronto Centre

Moderator:

Babak Abbaszadeh, President and CEO, Toronto Centre

Read the transcript here. Read their biographies here.

https://www.torontocentre.org/

Ep. 148: The Role of Supervision in the Financial Inclusion of Forcibly Displaced Persons Jun 18, 2024

Show notes

The worldwide total of forcibly displaced persons (FDPs) reached 110 million in 2022, with the cross-border refugee population standing at 36.4 million in 2023. The continuing cross-border refugee crisis caused by global conflict has created great vulnerabilities for FDPs.

This TC Note and accompanying podcast discuss the expansion of access to finance for FDPs and the unique challenges it presents for financial regulators and supervisors, such as the need to comply with customer due diligence requirements under AML/CFT legislation.

They also outline actions that supervisors can take towards achieving financial inclusion for FDPs, including adopting risk-based approaches to customer identification requirements, implementing financial education programs, and encouraging the development of financial infrastructure in refugee centres.

Speaker:

Mercy Buku, Program Leader, Toronto Centre

Host:

Ruth Dueck-Mbeba, Financial Inclusion Advisor, Toronto Centre

Read the transcript here. Read their biographies here.

https://www.torontocentre.org/

Ep. 147: Cross-Border Supervision of Capital and Liquidity Adequacy May 15, 2024

Show notes

Cross-border supervision is one of the more challenging supervisory priorities. It adds layers of complexity, new stakeholders, and potential challenges to effective supervision.

This TC Note and accompanying podcast discus the implications for home and host financial supervisors of cross-border supervision of the adequacy of capital and liquidity. They also consider the challenges of cross-border supervision and conglomerate supervision.

Speaker:

Brad Shinn, Program Leader, Toronto Centre

Host:

Arvind Baghel, Program Director, Toronto Centre

Read the transcript here. Read their biographies here.

https://www.torontocentre.org/

Ep. 146: Executive Panel Session: Combatting Financial Crime in a Digital Age Apr 25, 2024

Show notes

Financial crime is a significant threat to the safety and security of citizens and to the integrity of individual countries and the global financial system. While the proliferation of digital technologies presents many opportunities for financial systems, it also has introduced a new age of financial crime. For instance, crypto assets are a currency of choice among criminals.

The panel discussed:

The importance of global implementation of FATF’s standards to ensure responsible financial sector growth
Using the latest data technologies to combat financial crime
How financial supervisors can better detect criminal activity and enhance know-your-customer protocols
How policymakers and supervisors can advance global coordination to combat financial crime

Opening Remarks:

Ian Gorst, Minister of External Affairs, Government of Jersey

Panelists:

Abdul Rasheed Ghaffour, Governor, Bank Negara Malaysia

T. Raja Kumar, President, Financial Action Task Force (FATF)

Cecilia Skingsley, Head, BIS Innovation Hub, Bank for International Settlements

Moderator:

Jennifer Elliott, Advisor, Monetary and Capital Markets Department, IMF; Board Member, Toronto Centre

Read their biographies here.

https://www.torontocentre.org/

Ep. 145: Supervisory Intervention by Retail Conduct Supervisors Apr 24, 2024

Show notes

The nature of retail conduct supervision, which can often be more prescriptive and rules based, can result in different approaches to intervention.

This TC Note and accompanying podcast discusses how supervisors should take a more proactive risk-based approach to dealing with potential areas of misconduct and apply the key principles of risk-based supervision to facilitate an earlier identification and remediation of issues.

Speaker:

Karen Badgerow, Program Leader, Toronto Centre

Host:

Chuin Hwei Ng, Senior Program Director, Toronto Centre

Read the transcript here. Read their biographies here.

https://www.torontocentre.org/

Ep. 144: Supervision of Stress Testing by Financial Institutions Mar 14, 2024

Show notes

Stress testing should be a critical element of risk management for most financial institutions. It should alert boards and senior management to potential adverse outcomes related to a broad range of risks and vulnerabilities, identify potential losses, liquidity needs, and operational responses should adverse shocks occur. Supervisors should, in turn, have a strong interest in stress testing by financial institutions.

This TC Note and accompanying podcast discusses the need for financial institutions to conduct stress testing, what types of stress tests and scenario analyses are used, possible adverse outcomes, key areas in stress testing supervision, and the possible usages of the results by financial institutions.

Speaker:

Clive Briault, Chair, Banking Advisory Board, Toronto Centre

Host:

Demet Çanakçı, Senior Program Director, Toronto Centre

Read the transcript here. Read their biographies here.

https://www.torontocentre.org/

Ep. 143: Supervisory Stress Testing: A Primer Mar 06, 2024

Show notes

Supervisory stress testing is a technique used to assess the robustness of financial institutions and the broader financial system to severe but plausible shocks. Since the Global Financial Crisis of 2008, it has emerged as an important tool for supervisors that complements other approaches and methods.

Stress testing is one of the more complex tasks undertaken by supervisory authorities. Primarily used to inform solvency and liquidity adequacy assessments, it is also a critical method for exploring emerging risks and the threats they pose to financial institutions.

This TC Note and accompanying podcast discusses the design, effective use, limitations, and interpretation of stress tests by financial supervisors. It explores a range of stress tests, from elementary, top-down applications to more sophisticated tests using scenarios applied bottom-up to multiple financial institutions.

Speaker:

R. Barry Johnston, Program Leader, Toronto Centre

Host:

Demet Çanakçı, Senior Program Director, Toronto Centre

Read the transcript here. Read their biographies here.

https://www.torontocentre.org/

Ep. 142: The Risk-Based Supervision of Liquidity Feb 26, 2024

Show notes

Liquidity is fundamental to the operation of financial institutions. Problems can quickly arise and escalate, threatening the stability of the financial system.

This TC Note and accompanying podcast focuses on good practices in liquidity management by financial institutions in the banking, insurance, pensions, and securities sectors. It provides guidance on how supervisors should assess liquidity management, including the use of scenario analysis and stress testing. Lessons learned from recent high-profile financial institution failures are explored.

Speaker:

Paul Wright, Program Leader, Toronto Centre

Host:

Chuin Hwei Ng, Senior Program Director, Toronto Centre

Read the transcript here. Read their biographies here.

https://www.torontocentre.org/

Ep. 141 - A Call to Action: Addressing Natural Catastrophe Protection Gaps Feb 16, 2024

Show notes

The world's most economically vulnerable populations are frequently impacted by natural catastrophes (NatCats).

The International Association of Insurance Supervisors' (IAIS) recent report, A call to action: the role of insurance supervisors in addressing natural catastrophe protection gaps, outlines actions insurance supervisors can take.

The speakers discuss key takeaways from the report including:

How closing the protection against gap for natural catastrophes could improve financial stability, particularly for emerging markets and developing economies
The importance of improving consumer financial literacy
Creating an enabling regulatory and supervisory environment to expand access to affordable insurance products

Read our Climate and Biodiversity Loss Risks Toolkit to learn more.

Speaker:

Jacqueline Friedland, Executive Director, Risk Assessment and Intervention Hub, Supervision Sector, Office of the Superintendent of Financial Institutions (OSFI), Vice Chair, Protection Gap Task Force, International Association of Insurance Supervisors (IAIS)

Host:

Anatol Monid, Senior Director, Programs, Toronto Centre

Read the transcript here. Read their biographies here.

https://www.torontocentre.org/

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