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Systemic Risk Centre event co-hosted with Oxera

Date: Monday 14th October 2024   Time: 10.30am-4.35pm BST
Venue: The Conference Room, MAR.1.06, 1st floor, The Marshall Building, LSE (map)
Speakers: Simon Burden (NatWest), Jordi Gual (IESE Business School), Vikram Haksar (IMF), Nico Lauridsen (University of Bologna / European University Institute / Florence School of Banking and Finance), Dan Moore (Payment Systems Regulator), James Sanders (Bank of England), Julius Sen (FMG/SRC)
Organisers: Peter Andrews (Oxera & FMG/SRC), Kevin James (FMG/SRC)

Payment systems matter for societal wellbeing. They influence financial stability and financial inclusion as well as the speed, safety and cost of the billions of payments made every day by businesses and private individuals. Recognizing the critical role that payment systems play in the economy, the UK Government created the Payment System Regulator (PSR) in 2015 to “develop and protect competitive markets and contribute to the creation of market conditions in which innovation thrives”.

Today's emerging technologies create enormous scope for innovation and competition. To explore the opportunities and challenges that these developments pose for payment system regulators, the LSE – Systemic Risk Centre and Oxera Consulting LLP have gathered a roster of academics, regulators, and market participants to discuss current issues in payments systems and the best ways forward.

Conference held under the Chatham House Rule.

Registration
This in-person only public event is free and open to all, but pre-registration is required. Registration will close on 6th October 2024 or earlier when all places are filled.

On average, 40-60% of people who register for an event do not turn up. Registering and not attending prevents others from signing up, uses up resources and leads to waste. Please only register if you are likely to attend. Should you become unable to attend, please let us know as soon you can.

#LSEOxeraSRC

Programme

10.30-11.00am

Registration & Coffee

11.00-11.05am

Introduction

Jean-Pierre Zigrand (LSE Finance & FMG/SRC)

11.05-11.30am

Keynote

David Geale (Managing Director, Payment Systems Regulator)

11.30am-1.00pm

Session 1: Competition and Innovation

Chair: Luis Correa da Silva (Oxera)

Speakers:

  • Jordi Gual (IESE Business School) – Competition and Innovation — A European Perspective
  • Simon Burden (NatWest) – Competition, Innovation, and the Role of Regulation: Open Banking in the UK
  • Dan Moore (Payment Systems Regulator) – Competition and Innovation

    Panel discussion: session 1 speakers and other panellists (names TBC)
1.00-2.00pm

Lunch

2.00-3.15pm

Session 2: Financial Stability

Chair: Jean-Pierre Zigrand (LSE Finance & FMG/SRC)

Speakers: 

  • Nico Lauridsen (University of Bologna/European University Institute/Florence School of Banking and Finance) - Payment System and Bank Systemic Risk
  • James Sanders (Bank of England) - Payments Data, Liquidity, and Reserves Demand in the UK

Panel discussion: session 2 speakers and other panellists (names TBC)

3.15-3.35pm

Coffee break

3.35-4.35pm

Session 3: Financial Inclusion

Chair: Peter Andrews (Oxera)

Speakers: 

  • Vikram Haksar (IMF) - India’s Approach to Open Banking: Some Implications for Financial Inclusion
  • Julius Sen (FMG/SRC) - India’s Unified Payments Interface (UPI) System: Its Transformative Economic Impact

Panel discussion: session 3 speakers and Kim Cramer (LSE Finance) and David Stallibras (FCA)