Banking: Helping to boost the economy
The COVID-19 health crisis is having an incredible impact on the world economy, especially the economy of Spain. Though primarily a health crisis, it has had huge economic effects on society as a whole.
Cushioning the economic blow through fiscal policy seems to be the first line of defense given the limited leeway offered by monetary policy. But this policy is not free of problems, especially in Southern European countries due to their vulnerable financial situation.
In this context, the banking industry plays a crucial role by channeling financial assistance to companies and households, and by working in general to boost economic recovery.
With this critical mission to be carried out, it’s time to raise some questions about the mission and role banks and banking regulation and supervision are playing in order to prevent the current economic crisis from becoming a full-blown banking crisis with devastating effects.
At this stage, we need to assess the effectiveness of the measures adopted to date and consider medium- and long-term measures that can effectively strengthen recovery, such as refinancing, restructuring and the conversion of debt and capital instruments.
And to go one step further, what role will banks play in the future, considering the innovation and digitalization arising from the industry’s current shift toward greater technological disruption? What impact will new digital currencies have on banking’s mediating role and payment systems?
In the midst of an anticipated tide of bank mergers, IESE CIF has organized the 16 Banking Industry Meeting, in collaboration with EY, to reflect on these matters. Regulators, academics, consultants and senior managers in banking will have the opportunity to discuss the industry’s situation and prospects at a decisive moment for society as a whole.
The first day of the Meeting (Monday 5 in the afternoon) all sessions will be Live Online. The second day (Tuesday 6 in the morning) we will welcome you to the Aula Magna in the new campus.
