April 25, 2013
Financial Research Center (FSA Institute)

International Conference on Strengthening the Asian Financial Sector toward Sustainable and Inclusive Growth

The Financial Research Center of the Financial Services Agency (FSA Institute) hosts joint international conferences which bring together the financial industry, academia, and the government sector to discuss practical issues concerning the financial system.  This year’s international conference was jointly hosted by the FSA Institute and, the Asian Development Bank Institute (ADBI) on March 8, 2013, and was titled “Strengthening the Asian Financial Sector toward Sustainable and Inclusive Growth.”  The conference was attended by over 300 participants, including academics, government and central bank officials, financial institutions in Japan and abroad, and officials from foreign embassies in Tokyo.

At the start of the conference, Minoru Terada, Deputy Minister of Cabinet Office and Deputy Minister for Reconstruction, and Masahiro Kawai, Dean and CEO of ADBI, gave welcoming remarks.  Then, Ryutaro Hatanaka, Commissioner of FSA Japan, delivered a keynote speech on challenges for Japan and Asia in light of the current financial environment.  Muliaman D. Hadad, Chairman of Financial Services Authority Indonesia, also gave a keynote speech on the role of and tasks for recently-established FSA Indonesia.

The conference comprised four sessions and examined financial regulations and frameworks that would promote development and stability of Asia’s financial markets.

• Program(PDF:153K), Summary of the Conference(PDF:98K), Materials

International Conference on Strengthening the Asian Financial Sector toward Sustainable and Inclusive Growth
Organized by Financial Research Center, Financial Services Agency, Japan and Asian Development Bank Institute
Date: March 8, 2013
Venue: Auditorium, Third Floor, Central Common Government Offices No.7 East Wing 3-2-1
Kaumigaseki, Chiyoda-ku, Tokyo, Japan

Agenda

10:00-10:10	Welcoming Remarks Minoru Terada, Deputy Minister of Cabinet Office and Deputy Minister for Reconstruction Masahiro Kawai, Dean and CEO, Asian Development Bank Institute (ADBI)
10:10-10:35	Keynote Speeches Ryutaro Hatanaka, Commissioner, Financial Services Agency, Japan (JFSA) Keynote speech(PDF:73K) Handout(PDF:63K) Muliaman D. Hadad, Chairman, Financial Services Authority, Indonesia
10:35-12:25	Session I
Global Financial Supervisory Reforms: Implications and Lessons for Asia Chair: Jae-Ha Park, Deputy Dean, ADB

The European Experience in Cross-border Regulation: Implications for Asia     Materials Presenter Douglas J. Elliott, Fellow, Economic Studies, Initiative on Business and Public Policy, Brookings Institution Abstract(Douglas J. Elliott)(PDF:15K) Presentation slides(Douglas J. Elliott)(PDF:23K) Discussants Atsushi Mimura, Director, Securities Business Division, Supervisory Bureau, JFSA Presentation slides(Atsushi Mimura)(PDF:46K) Implications of Global Financial Regulatory Reform, including Basel III Capital Adequacy Rules, for Asian Financial Institutions and Economies     Materials Presenter Peter Morgan, Senior Consultant for Research, ADBI Abstract(Peter Morgan and Victor Pontines)(PDF:64K) Presentation slides(Peter Morgan and Victor Pontines)(PDF:87K) Victor Pontines, Research Fellow, ADBI Discussants Cyn-Young Park, Assistant Chief Economist, Economics and Research Department, Asian Development Bank Presentation slides(Cyn-Young Park)(PDF:247K) Liquidity of U.S. Dollars in Tokyo Market: in Comparison with London and New York, and its Implications for Asian Financial Policy     Materials Presenter Shin-ichi Fukuda, Professor of Economics, University of Tokyo Abstract(Shin-ichi Fukuda)(PDF:80K) Presentation slides(Shin-ichi Fukuda)(PDF:690K) Discussants Peter Morgan, Senior Consultant for Research, ADBI Presentation slides(Peter Morgan)(PDF:68K)

12:25-13:45	Lunch Break
13:45-15:00	Session II

Challenges to Reform of Asia’s Financial Sector Chair: Tsuyoshi Oyama, Partner, Financial Services Industry Group, Deloitte Touche Tohmatsu LLC     Materials Presenters Toshihide Endo, Deputy Director-General, Supervisory Bureau, JFSA Abstract(Toshihide Endo)(PDF:20K) Presentation slides(Toshihide Endo)(PDF:1,009K) Discussants Nobuhide Hayashi, Managing Director, Head of International Banking Unit,        Mizuho Corporate Bank, Ltd Presentation slides(Nobuhide Hayashi)(PDF:1,557K) Tarisa Watanagase, Former Governor, Bank of Thailand Presentation slides(Tarisa Watanagase)(PDF:67K) Judith E. Sungsai, Director, Bangko Sentral ng Pilipinas Presentation slides(Judith E. Sungsai)(PDF:829K)

15:00-15:15	Coffee Break
15:15-16:45	Session III

Strengthening Regional Regulatory and Supervisory Frameworks in Asia Chair: Ganeshan Wignaraja, Director of Research, ADBI Early Warning Indicators for Asia     Materials Presenters Naoyuki Yoshino, Director, Financial Research Center (FSA Institute), and Professor of Economics, Keio University Abstract(Naoyuki Yoshino and Tomoya Nakamura)(PDF:17K) Presentation slides(Naoyuki Yoshino and Tomoya Nakamura)(PDF:1,739K) Tomoya Nakamura, Research Fellow, FSA Institute Discussants Soo-Hyun Choi, First Senior Deputy Governor, Financial Supervisory Service, Korea - Shenshen Wang, Senior Economist, Global Monetary Research Department, Okasan Securities Co., Ltd. Presentation slides(Jiro Seguchi)(PDF:693K) Innovative Policy and Regulatory Approaches for Financial Inclusion in Asia     Materials Presenters Alfred Hannig, Executive Director, Alliance for Financial Inclusion (AFI) Abstract(Alfred Hannig and Klaus Prochaska)(PDF:89K) Presentation slide(Alfred Hannig and Klaus Prochaska)(PDF:139K) Klaus Prochaska, Senior Policy Analyst and Knowledge Manager, AFI Discussants Julius Caesar Parrenas, Advisor on International Affairs, Bank of Tokyo-Mitsubishi UFJ, Ltd. Presentation slides(Julius Caesar Parrenas)(PDF:48K)

16:45-18:00

Session IV: Panel Discussion: Financial Regulation in Asia: The Way Forward

Chair: Masahiro Kawai, Dean and CEO, ADBI

Materials Presenters Christian Hunt, Head of Department, Custody & Investment Banks, International Banks Division, Financial Services Authority, United Kingdom Presentation slides(Christian Hunt)(PDF:90K) Tarisa Watanagase, Former Governor, Bank of Thailand Presentation slides(Tarisa Watanagase)(PDF:23K) Toshio Oya, Assistant Commissioner for International Affairs, JFSA Presentation slides(Toshio Oya)(PDF:137K)

18:00-18:10

Closing Remarks Naoyuki Yoshino, Director, FSA Institute, and Professor of Economics, Keio University Masahiro Kawai, Dean and CEO, ADBI