Financial Markets: Increasing Complexity, Maintaining Stability

3–5 July 2019, ST. PETERSBURG




Ladies and gentlemen,

Please allow us to express our gratitude for your participation in the 28thInternational Financial Congress, which took place on 3–5 July 2019 in St. Petersburg. Organizer of the Congress was the Central Bank of the Russian Federation.


Main topic of International Financial Congress:

Financial Markets: Increasing Complexity,
Maintaining Stability

The events of the Congress were attended by delegated from the Bank of Russia and foreign central banks, international financial organizations, of the largest banks and professional associations, and established international and Russian experts – a total of more than 1,200 participants and media representatives from Russia and 37 countries.

You can find out more information on the outcomes of the International Financial Congress by clicking on the links below:

Video of all IFC-2019 sessions is available on the Congress official website.

We hope to see you again in St. Petersburg for the International Financial Congress in 2020.



Results of the 28th International Financial Congress
BUSINESS PROGRAMME 1,200 participants


Outcomes of the 28th International Financial Congress Financial Markets: Increasing Complexity, Maintaining Stability


Address by Elvira Nabiullina, Governor of the Bank of Russia

Plenary session I: Central Bank’s Policy Design: Pursuing Multiple Objectives in Times of Increasing Market Complexity and Risk Variety

Plenary session II: Self-Regulation, Ethics, and Conduct Supervision: Challenges for the Next Three Years

7 thematic tracks and 43 parallel sessions:

Banks:

  • Session 1.1: New Approaches to Finance for Housing Construction: Challenges and Opportunities for the Banking and Construction Sectors
  • Session 1.2: IFRS 9: Specificities and Results of Implementation
  • Session 1.3: Business Models for Regional Banks: The Past, Present, and Future
  • Session 1.4: RegTech and SupTech: Technological Transformation of Interaction between the Financial Industry and the Regulator
  • Session 1.5: Infrastructure Projects for the Financial Market: Initial Results and Prospects
  • Session 1.6: Macroprudential Policy: Aims, Means, Results
  • Session 1.7: The Development of the Deposit Insurance System

Macroeconomics and Monetary Policy:

  • Session 2.1: Challenges for the EME Central Banks’ Policies Amid Global Uncertainty
  • Session 2.2: Interaction Between Monetary Policy and Macroprudential Policy
  • Session 2.3: Central Banks’ Communication as a Monetary Policy Tool
  • Session 2.4: Inflation Expectations: How Do We Anchor Them?
  • Session 2.5: Accelerating Economic Growth in Russia
  • Session 2.6: The Implications of the Broad Regional Diversity for the Monetary Policy Decision-Making

Financial Market Professionals:

  • Session 3.1: New Requirements for Financial Market Specialists
  • Session 3.2: Competition for Retail Investors: Brokers and Trustees
  • Session 3.3: The Derivatives Market: On the Cusp of Change?
  • Session 3.4: Identifying Optimal Levels of Regulation and Efficient Oversight in the Securities Market: Theory and Practice
  • Session 3.5: Investment Consulting: Initial Results
  • Session 3.6: The Role of Infrastructure in Building a Trusting Environment and Simplifying Investor Access to the Financial Market in the Era of Digitalisation
  • Session 3.7: Fair Pricing on the Securities Market

Collective Investments: Main Challenges and Areas of Growth:

  • Session 4.1: The Investment Fund Market: A Reset
  • Session 4.2: Private Pension Funds: Expanding Investment Opportunities vs Managing Risk – Earn or Save?
  • Session 4.3: The Special Depository: Keeping in Step with the Times; What Does an Investor Pay for?
  • Session 4.4: Private Pension Funds: Competition and Factors Hindering Business Development
  • Session 4.5: Growth of Non-State Pensions
  • Session 4.6: Risk-Management Tools in Collective Investments: The Abilities of Managers and Expectations of Investors

Microfinance:

  • Session 5.1: Credit Cooperation: Pathways Towards Earning Trust and Raising Popularity
  • Session 5.2: The Socialisation of Microfinance Organisations: Transforming Business Models through Regulatory Action
  • Session 5.3: The Development and Improvement of a Self-Regulation Institution on the Microfinance Market
  • Session 5.4: Online Services in the Microfinance Market: Challenges and Growth Prospects
  • Session 5.5: Partnership between Credit and Microfinance Organisations: Benefits and Threats to Business and Consumers
  • Session 5.6: Consumer Fraud and Borrower Misconduct: Taking Effective Countermeasures

Insurance Market:

  • Session 6.1: A Development Strategy for the Insurance Sector: Perspectives of the Market and the Regulator
  • Session 6.2: Motor Third-Party Liability Insurance: A Focus on Customization
  • Session 6.3: The Consumer in the Insurance Market
  • Session 6.4: New Approaches to Assessing the Financial Stability of Insurance Companies
  • Session 6.5: Life Insurance: Prospects

Cross-sector sessions:

  • Session 7.1: Funding Entrepreneurship: A National Priority
  • Session 7.2: Digital Transformation and Cyber Risks in the Financial Sector
  • Session 7.3: Approaches to the Regulation of Financial Groups
  • Session 7.4: The Сontribution of Сorporate Governance to the Competitiveness of a Financial Institution
  • Session 7.5: Cyber Risks and Cyber Threats: Managing, Regulating, Insuring
  • Session 7.6: Compliance as a Part of Corporate Culture

Business breakfast ‘Banks and IT Companies: Working Together to Combat Cyber Threats’ organized by the Bank of Russia and the BELL Club

Signing of the Cooperation and Information Exchange Agreement between the Bank of Russia and the Central Bank of Armenia

As part of the additional programme, the Bank of Russia held a conference on economic research entitled ‘The effectiveness of Macroprudential Policies: Theory and Practice’.

The Congress business programme touched upon all aspects of financial market.
The discussions at the International Financial Congress 2019 focused on issues of identifying and measuring risks of financial stability, optimal monetary policy, as well as effects of macroprudential policies.

As part of the Congress, a number of sessions was dedicated to infrastructure projects for financial markets, new approaches to financing residential construction, development of non-state pension support, macroprudential policies, compliance issues, development of deposit insurance system, digital transformation and cyber risks in the financial sector, approaches to regulating financial groups, and other questions.

IFC-2019 also hosted an exhibition featuring eight companies: VTB Bank, Russian Agricultural Bank, Sberbank, Mir national payment system, Bank DOM.RF, Goznak, ROSINCAS Association, FinCERT.


In 2019, the International Financial Congress was attended by around 1,200 representatives from 37 countries: Austria, Azerbaijan, Argentina, Armenia, Bangladesh, Belgium, Bermuda, Brazil, the UK, Hungary, the Virgin Islands, Germany, Greece, Denmark, Egypt, Spain, Italy, Kazakhstan, Cyprus, China, Moldova, the Netherlands, Jersey, Portugal, Republic of Belarus, Serbia, the US, Thailand, Turkey, Uzbekistan, Uruguay, Finland, France, Croatia, the Czech Republic, Switzerland, and Japan, including 254 heads of Russian and foreign companies.

Among Congress participants were representatives of:

  • 90 credit organizations from 25 cities. Among them, leading Russian banks: Sberbank, VTB Bank, Gazprombank, Russian Agricultural Bank, Bank Otkritie, Alfa-Bank, UniCredit Bank, ROSBANK, Saint Petersburg Bank. Citibank and others;

  • central (national) banks of 15 countries: Austria, Armenia, Belarus, Denmark, Spain, Italy, Portugal, Russia, Thailand, Turkey, Uzbekistan, Finland, France, Croatia, and the Czech Republic;

  • 39 insurance companies; 19 non-state pension funds; 21 investment companies; 22 professional stock market players; 25 asset management companies; 12 microfinance organizations, pawnbrockers, consumer credit co-operatives; 11 self-regulatory organizations; 2 trade / exchange organizers.

  • 22 associations/unions, bringing together credit organizations and other participants of financial markets in Russia, in CIS countries and abroad; 17 IT-companies; 4 payment systems; 6 rating agencies; representatives of the scientific community from 20 universities and institutes; representatives of telecommunication companies, funds, non-bank credit organizations, manufacturing and legal companies;

  • World Bank, European Bank for Reconstruction and Development, European Central Bank, Bank for International Settlements, Eurasian Development Bank, International Monetary Fund, Financial Market Supervisory Authority of Azerbaijan, Eurasian Economic Union, Interstate Bank, International Bank for Economic Cooperation, Reinventing Bretton Woods Committee;

  • legislative and executive authorities of various levels; Federation Council of the Russian Federation, State Duma, Prosecutor General’s Office, Ministry of Finance, Ministry of Economic Development, Ministry of Internal Affairs, Ministry of Agriculture, Ministry of Construction, Housing and Utilities, Accounts Chamber, Federal Antimonopoly Service, Federal Financial Monitoring Service, Deposit Insurance Agency state corporation.


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