The Finance Panel is a forum covering topics in finance and is jointly organized by SNS and finance research institute Swedish House of Finance.
The Finance Panel is a seminar series for the financial sector, jointly organized by SNS and Swedish House of Finance. The participants come from the public and the private sector as well as academia.
Ilinca Benson, ilinca.benson@sns.se
Nina Bruce, nina.bruce@sns.se
The price of energy in Europe has fluctuated and increased dramatically following Russia’s invasion of Ukraine. The crisis has exposed weaknesses in the European energy market design. Participants: Paulina Dejmek-Hack, Financial Services and Capital Markets Union, Karolina Ekholm, Swedish National Debt Office, Vincent Maurin, Stockholm School of Economics, Daniela Peterhoff, Nasdaq, Mats Persson, Fortum. Watch the seminar. 2022.11.24
The sanctions imposed in connection with the invasion of Ukraine has caused many Western investors to leave Russia. It has also raised questions about the consequences for other markets and how sustainability can be measured. These questions were discussed by Bo Becker, Professor of Finance, Johanna Fager Wettergren, Head of Sustainable Finance at the Sweden’s Financial Supervisory Authority (Finansinspektionen), and Kristin Magnusson Bernard, CEO at Första AP-fondens (AP1). Watch the seminar (in Swedish). 2022.05.04
How do policy makers around the world plan to regulate cryptocurrencies? Can cryptocurrencies be used to avoid financial sanctions? At the seminar MIT Professor Antoinette Schoar discussed the emerging risks and promises of a wider adoption of these technologies, together with Martin Flodén, Deputy Governor of the Riksbank, and Kristian Gårder, Co-Head of Equities at SEB. Watch the seminar. 2022.04.19
How much do small retail investors know about pro-environment funds? Who invests in these products? And why does environmental engagement not correlate with green investment? Anders Anderson, Swedish House of Finance, presented his paper “Financial Literacy in the Age of Green Investment”. Comments from Erik Fransson, Director of the Fund Department at the Swedish Pensions Agency, and Elisabet Jamal Bergström, Deputy CEO and Head of Sustainability, Governance and Staff, SEB Investment Management. Watch the seminar (in Swedish). 2021.12.15
Princeton economics professor Markus Brunnermeier discussed his new award-winning book “The Resilient Society”. Comments from Paulina Dejmek Hack, Director for General Affairs at DG FISMA at the European Commission, and Karolina Ekholm, Professor of Economics at Stockholm University and incoming Director General of the Swedish National Debt Office. Watch the webinar. 2021.11.23
In the upcoming months, the European Council and the European Parliament may object to the European Commission’s proposal for a regulatory framework to identify environmentally sustainable investments, the so-called Taxonomy. At the meeting, we focused on the possible consequences of the Taxonomy for companies. Listen to the webinar. 2021.06.23
In recent years, the market for corporate bonds has grown, both in Sweden and in the rest of the EU. But it has not happened without problems and the market can also continue to grow. How do the authorities, fund managers, investors and researchers view the market for corporate bonds and its development? Watch the webinar (in Swedish). 2021.04.19
To curb the effects of the corona pandemic, the Swedish Riksbank, and other central banks around the world, have lowered their policy rates to very low levels. The Riksbank has also bought different types of bonds. Together with Deputy Governor Martin Flodén, Economist Martin Nordström and Chief Economist Christina Nyman, we discussed how the Riksbank justifies their purchases and the side effects of these on, for example, the distribution of income and wealth. Watch the webinar via (in Swedish) 2021.03.18
The EU Commission presented an initiative on sustainable corporate governance during the fall. Swedish institutional investors and companies criticized the initiative. Two weeks before the end of the consultation period, the Finance Panel hosted a discussion about the implications for Swedish business of the proposal.
Watch the webinar via SNS Play (In Swedish). 2021-01-25
In 2018 Wirecard was Europe´s largest fintech company aimed at taking on Silicon Valley. Today it has filed for insolvency. The CEO is in custody and the CFO has fled and is wanted by the German police. During the webinar we tried to explain what happened with a distinguished panel consisting of: Nicolas Véron, senior fellow at the Peterson Institute and Bruegel, Katja Langenbucher, Professor of Banking and Corporate Law, Goethe University, House of Finance, Annika Poutiainen, Chair at Council for Swedish Financial Reporting Supervision and Erik Thedéen, Director General at the Finansinspektionen (the Swedish FSA) and a member of the Management board of the European Securities and Markets Authority (ESMA). Watch the webinar via SNS Play (in English) 2020.12.07
Stefan Ingves, Governor of the Swedish Riksbank and Chairman of the Executive Board, spoke about the actions and mandate of the Swedish central bank during the corona crisis. Watch the webinar via SNS Play (in Swedish) 2020.11.03
Low interest rates have consequences for the cost of making investments, the return on savings and the profitability of financial corporations. Professor Roberts spoke about his studies, showing that different features in lending contracts, such as spreads over reference rates, interest rate floors and maturities are different in a low rate environment compared to a high rate. Helena Nordberg, portfolio manager at Svenskt Näringsliv shared her working experience from a low rate market and Henrik Braconier, chief economist at Finansinspektionen (TheSwedish FSA), spoke of his experience and concerns of low interest rates. Watch the webinar via SNS Play (in English). 2020.10.16
Over the past few years prior to the Corona Crisis, Swedish Companies have been falling more into debt. Now that the Pandemic is in full swing how will it affect these struggling companies with their existing debt? What is the risk of an upcoming wave of corporate bankruptcies? What is the possibility for corporate reorganizations? Watch the webinar via SNS Play (in Swedish) 2020.06.17
Discussion with Anna Breman, Deputy Governor at the Swedish Riksbank, concerning the role of monetary policy during crisis. Watch the webinar via SNS Play (in Swedish) 2020.04.29
Measures to limit the spread of the coronavirus have slowed the economy and created acute liquidity problems for many companies. If the restrictions continue, many companies risk going bankrupt. What can be learned from previous crises? Watch the webinar via SNS Play (in Swedish) 2020.04.23
Praet addressed the limits of monetary policy. Can negative interest rates and other non-conventional tools kick-start the economy? What is the role for fiscal policy?
Watch the seminar via SNS Play.
Seminar on the governmental inquiry on Sweden possibly joining the European Banking Union.
Participants: Lars Calmfors, Professor of International Economics, Institute for International Economic Studies, Stockholm University. Anna-Karin Jatko, General Director at The Swedish Export Credit Agency (EKN). Hans Lindberg, ceo, The Swedish Bankers’ Association. Nicolas Véron, senior fellow at Bruegel i Brussels and Peterson Institute for International Economics in Washington.
The parliamentary Riksbank committee presented its proposed new monetary policy framework and a new Central Bank Law. A discussion between Mats Dillén, Chairman of the committee, Aino Bunge Head of Staff at AMF, Harry Flam Professor at Stockholm University and Anders Vredin, Head of General Secretariat at Sveriges riksbank.
Watch the seminar via SNS Play.
Efraim Benmelech is the Harold L. Stuart Professor of Finance and the Director of the Guthrie Center for Real Estate Research at the Kellogg School of Management and a Research Associate at the National Bureau of Economic Research (NBER).
Watch the seminar via SNS Play.
Speaker: Christian Thimann, special adviser to the EU Commission, former Chairman of the Commission’s High-Level Expert Group on Sustainable Finance.
Watch the seminar via SNS Play.
The Swedish Minister for Finance, Magdalena Andersson, commented on Brexit, the negotiations over the new EU budget, the intensified cooperation in the Eurozone as well as the Capital Markets Union and the Banking Union. She described Sweden´s positions and emphasized the new cooperation between the North European countries known as the New Hanseatic League. Kristin Magnusson Bernard, from the Nordic bank Nordea and Martin Blåvarg, from the Swedish bank Handelsbanken, contributed with their comments.
Watch the seminar via SNS Play.
Round table discussion about the US economy and monetary policy with Charles Evans, president of the Federal Reserve Bank of Chicago. The meeting was held under the so-called Chatham House Rule and was therefore not recorded.
Three years ago the new framework for managing troubled banks was introduced within the EU. Crisis shall be managed with a minimum of damage to the economy. At the seminar we discussed the experience so far: Will the rules work out as planned in a future Swedish financial crisis? What is the experience of the banking resolution so far?
Watch the seminar via SNS Play.
The market for money laundering in Europe is estimated to at least € 120 billion annually. How are the transactions done and who is behind them? Is Anti Money Laundering being pursued in an efficient manner? Rob Wainwright, former director of Europol, visited SNS to discuss the AML-regime. Today, only one percent of the criminal money is seized. To increase effectiveness, cooperation and exchange of information between banks, countries and government agencies is needed.
Watch the seminar via SNS Play.
How will Brexit affect countries within EU and UK, and the financial markets? To answer these question, the Finance panel was visited by Lord Jonathan Hill, one of Europe’s most influential expert on issues related to Brexit. Lord Hill was the European Commissioner for Financial Stability, Financial Services and Capital Markets Union up until the Brexit referendum. He is the founder of the organization Prosperity UK and member of the House of Lords. The meeting was held under Chatham House rules and was therefore not recorded.
Should the Riksbank issue a digital e-Crown? As one of the first central banks in the world the Riksbank investigates a digital currency to complement cash. Introduction by Cecilia Skingsley, Deputy Governor at the Riksbank. Comments by Peter Englund, professor emeritus in financial economics, and Johanna Lybeck Lilja, Executive Advisor at Nordea.
Watch the seminar via SNS Play.
Foreign direct investments (FDI) in infrastructure and technology have recently been an issue of debate in Europe. The increasing number of Chinese FDI:s have raised concerns. What are the risk? Seminar with Maria Åsenius, Head of Cabinet for the European Commissioner for Trade Cecilia Malmström, Staffan Bohman, chairman i.a. Electrolux, Michael Claesson, Sweden Armed Forces and Frédéric Cho, Sweden-China Trade Council.
Watch the seminar via SNS Play.
There is a very active debate on how to deepen European co-operation in the euro area and in the Banking union. What are the different options for countries, such as Sweden, that are neither members of the euro area nor the Banking Union? We were joined by John Berrigan, Deputy Director General of the Commission’s financial services division and Karolina Ekholm, State Secretary at the Ministry of Finance. John Berrigan outlined the European Commission’s policy priorities in 2018 when it comes to the Banking Union.
Watch the seminar via SNS Play.
One of the financial markets’ most important tasks is to finance housing. Mortgages make up a large portion of the banks’ balance sheets. Now new players challenge established banks with partially different business models. It this development good or bad for financial stability? Do we need different consumer protection when housing mortgage loans are provided by new players? With Erik Thedéen, Director General of Finansinspektionen, Hampus Brodén, Stabelo and Christoffer Malmer, SEB.
Watch the seminar via SNS Play.
The Basel III regulation are being reviewed by the Swedish Financial Supervisory Authority before being implemented. Erik Thedéen, Director General of FSA, visited SNS to explain how the new regulation affects Swedish banks, and to talk about whether the banks are equipped to manage the next financial crisis. Erik Thedéen presentation was commented by Martin Blåvarg, Svenska Handelsbanken, Bo Becker, Stockholm School of Economics and Louise Lundberg, Moody’s Investor Services.
Watch the seminar via SNS Play.
The banking industry is put under stress by technological developments introduced by startups. One of Europe’s leading banking experts, Arnoud Boot, Professor of Corporate Finance and Financial Markets at the University of Amsterdam, visited SNS to talk about the structure of the banking industry going forward in the new landscape. Sara Öhrvall, SEB Group, and Martin Andersson, Oliver Wyman, contributed with their perspectives.
Watch the seminar via SNS Play.
A discussion about the EU’s framework to deal with failing banks. What is the present state of the banking union? What is the possible impact of Brexit on the European banking union? What are the pros and cons of a Swedish membership? Nicolas Véron, is a co-founder of Brussels-based think-tank Bruegel and a visiting fellow at the Peterson Institute for International Economics in Washington.
Watch the seminar via SNS Play.
Blockchain technology has the potential to disrupt the financial markets. It could render many financial services unnecessary. Fundamentally, we are looking at a new peer to peer economy. David Yermack, leading expert on digital currency and blockchains, explained the new technology and discussed consequences for the financial sector.
Watch the seminar via SNS Play.
Pierre Moscovici is European Commissioner for Economic and Financial Affairs, Taxation and Customs. Commissioner Moscovici presented his views on “The Deepening of the EMU” and participated in a conversation about the future of the Economic Monetary Union and other economic policy challenges for Europe. The European Commission reflection paper, which sets out possible ways forward for deepening and completing the Economic and Monetary Union, provided the background to the discussion.
Stefan Lundbergh, government commissioner, presented his report on how structural changes to the premium pension system could make it safer and more efficient. A panel discussion followed, with Economist Roine Vestman, Stockholm University, MP Solveig Zander(C), State Secretary Therese Svanström Andersson and Fredrik Nordström, CEO Swedish Investment Fund Association.
The Swedish Government has appointed a parliamentary committee to review the function and responsibilities of the Riksbank, including the target and means of the monetary policy and the Riksbank’s responsibility for financial stability. Recently, the Central Bank of Norway underwent a similar evaluation. Mats Dillén, chair of the Swedish commission, and Svein Gjedrem, chair of the Norwegian commission, discussed what Sweden could learn from the Norwegian example.
Obama’s top economic adviser Jason Furmanon the state of the US economy and economic policies under President Trump. Jason Furman played an important role in forming the economic policies of the last administration. Today Furman is Senior Fellow at the Peterson Institute for International Economics and an active contributor to current debates on the US economy and economic policy.
Watch the seminar via SNS Play.
Interview with Jason Furman.
Kerstin af Jochnick, Deputy Governor, Riksbanken (Swedish central bank)
Uldis Cerps, Member of the Basel Committee and Senior Advisor to Director General, Finansinspektionen (Swedish Financial Supervisory Authority)
Hans Lindberg, Managing Director, Swedish Bankers’ Association
Jeremy Browne, Special Representative for the City of London to the EU
Jens Henriksson, CEO Folksam
Watch the seminar via SNS Play.
Gustav Martinsson, Research Fellow in Financial Economics, Royal Institute of Technology
Karolina Ekholm, Secretary of State for Minister of Finance Magdalena Andersson
Craig Beaumont, Assistant Director, IMF
Jesper Rangvid, Professor of Finance, Copenhagen Business School
Erik Thedéen, Director General, Finansinspektionen (Swedish Financial Supervisory Authority)
Watch the seminar via SNS Play.
George Papaconstantinou, Economist and former Minister of Finance of Greece
Watch the seminar via SNS Play.
Interview with George Papaconstantinou.
Jeremy Browne,Representative for the City of London in the EU.
Watch the seminar via SNS Play.
Jean Pisani-Ferry,Professor in Economics and Commissioner General for Policy Planning under Prime Minister Manuel Valls
Karina Ekholm, Secretary of State for Minister of Finance Magdalena Andersson
Lars Calmfors, Professor in International Economics, Stockholm University
Watch the seminar via SNS Play.
Anders Åslund, Economist and Professor at the Center for Eurasian, Russian and East European Studies at Georgetown University
Elsa Håstad, Assistant Director General at SIDA (Swedish International Development Cooperation Agency)
David Lidington, Minister of State for Europe of United Kingdom
Watch the seminar via SNS Play.
Erik Thedéen,General Director, Finansinspektionen (Swedish Financial Supervisory Authority)
Martin Flodén, Vice President, Riksbanken (Sweden’s central bank)
Hans Lindberg, Managing Director, Swedish Bankers’ Association
Per Strömberg Professor of Finance and Private Equity, Stockholm School of Economics
Per Strömberg,Professor of Finance and Private Equity, Stockholm School of Economics
Sean Cory, Partner and Nordic Market Leader, Oliver Wyman
Sergei Guriev,Professor of Economics, Sciencies Po
Franklin Allen,Professor of Finance and Economics, Imperial College London and University of Pennsylvania
Hal Varian, Chief Economist, Google
Leif Johansson, Chairman, AstraZeneca and Ericsson
Erik Thedéen, Managing Director, KPA Pensioner
Anders Borg, Former Minister of Finance of Sweden
Stefan Ingves, Governor, Riksbanken (Swedish Central Bank)
Martin Andersson, General Director, Finansinspektionen (Swedish Financial Supervisory Authority)
Arnoud Boot, Professor of Corporate Finance and Financial Markets, University of Amsterdam
Sabine Lautenschläger, Member of the Executive Board, European Central Bank
Hans-Werner Sinn, Professor of Economics and Public Finance, University of Munich
Stefan Ingves, Chairman, The Basel Committee on Banking Supervision
Peter Englund, Professor of Financial Economics, Stockholm School of Economics
Bo Becker,Professor of Corporate Finance, Swedish house of Finance
Karolina Ekholm, Deputy Governor, Riksbanken (Swedish Central Bank)
Kent Janér, Partner, Brummer & Partners
Jesper Rangvid,Professor of Finance, Copenhagen Business School
Johanna Lybeck Lilja, Secretary of State, Swedish Ministry of Finance
Kerstin Hessius, Managing Director, Third Swedish National Pension Fund
Staffan Hansén, Managing Director, SPP
Kerstin af Jochnick, Deputy Governor, Riksbanken (Swedish Central Bank)
Martin Hellwig, Director, Max Planck Institute for Research on Collective Goods
Kerstin af Jochnick, Deputy Governor, Riksbanken (Swedish central bank)
Steven Kaplan, Professor of Entrepreneurship and Finance, Chicago Booth
Kerstin Hessius, Managing Director, Third Swedish National Pension Fund
Xavier Musca,Deputy Chief Executive Officer, Crédit Agricole
Martin Ådahl, Chief Economist, Swedish Centre Party
Per Jansson, Deputy Governor, Riksbanken (Swedish Central Bank)
Marie Giertz, Chief Economist, Swedish Export Credit Corporation
Lars Frisell, Governor, Central Bank of Ireland
Pär Magnusson, Head of Scandinavian Research, Royal Bank of Scotland
Athanasios Orphanides,Professor of the Practice of Global Economics and Management, MIT Sloan. Former Governor of the Central Bank of Cyprus
Torbjörn Becker, Stockholm Institute of Transition Economics
Charles I. Plosser, President of the Federal Reserve Bank of Philadelphia
Anders Sundström,Managing Director, Folksam insurances
Mats Langensjö, Managing Director, Brummer Life
Erkki Liikanen, Governor, Bank of Finland
Peter Englund, Professor of Financial Economics, Stockholm School of Economics
Lars E.O. Svensson, Deputy Governor, Riksbanken (Swedish Central Bank)
Elena Carletti, Professor of Economics, European University Institute
Sony Kapoor,Managing Director, Re-Define Think Tank and Visiting Fellow, London School of Economics
Lars E.O. Svensson, Deputy Governor, Riksbanken (Swedish Central Bank)
Kent Janér,Partner, Brummer & Partners
Daniel Barr, Head of Department, Swedish National Debt Office
Daniel Sachs, Managing Director, Proventus
Julie Galbo, Deputy Director, Danish Financial Supervisory Authority
Anders Kvist, Director of Group Treasury, SEB Bank
Per Strömberg, Professor of Finance and Private Equity, Stockholm School of Economics
Nicolas Véron, Co-Founder and Senior Fellow, Bruegel
Sigvard Heurlin,Senior Project Manager, European Financial Reporting Advisory Group
Hans Dalborg, Economist and Commissioner
Erik Åsbrink, Former Minister of Finance of Sweden and Chariman for Alecta
Bo Becker, Assistant Professor of Business Administration, Harvard Business School
Kerstin Hessius, Managing Director, Third Swedish National Pension Fund
Bo Lundgren, Director General, Swedish National Debt Office
Paulina Dejmek, Advisor to European Commissioner Michel Barnier
Peter Norman, Minister for Financial Markets of Sweden
Franklin Allen, Professor of Finance and Economics, University of Pensylvania
Peter Nyberg, Member of the Commission of Investigation into the Banking Sector in Ireland
Robert Bergqvist, Chief Economist, SEB Bank
Jens Henriksson, Managing Director, Stockholm Stock Exchange
Mats A. Andersson, Managing Director, Fourth Swedish National Pension Fund