University economist delivers keynote speech on the recovery of banks
An academic from the University’s School of Business delivered the final keynote at the Twelfth Asia-Pacific High-level Meeting in Bali, Indonesia on 22-23 March.
Professor Panicos Demetriades (pictured), Professor of Financial Economics and former Governor of the Central Bank of Cyprus, delivered the final keynote on the lessons from Cyprus on bank recovery and resolution.
He emphasised the importance of educating bondholders and uninsured depositors who may be subject to bail-in mechanisms and communicating resolution actions to the general public to prevent contagion.
The meeting was held by the Financial Stability Institute (FSI), together with the Basel Committee on Banking Supervision (BCBS) and the Executives’ Meeting of East Asia-Pacific Central Banks Working Group on Banking Supervision (EMEAP WGBS), hosted by Bank Indonesia (BI) and attended by representatives from various Asian central banks, supervisory authorities and financial institutions, as well as senior officials from around the world.
The meeting explored the challenges of prudential supervision in the current financial and regulatory environment.