17th OECD-ADBI Toyko Roundtable on Capital Market and Financial Reform in Asia
17th Tokyo Roundtable on Capital Market and Financial Reform in Asiatook place on 2-3 March 2017 at the Asian Development Bank Institute (ADBI) in Tokyo, Japan. This meeting was jointly organised by the ADBI and the OECD, in co-operation with the Government of Japan.
Initiated in 1999 in the aftermath of the Asian financial crisis, the Tokyo Roundtable offers a forum for regulators, policy-makers, experts, scholars, private sector and international organisations to discuss issues relating to capital market and financial reform in Asia.
Information note (PDF)
Introduction and background
The OECD-ADBI Roundtable on Capital Market and Financial Reform in Asia (“Tokyo Roundtable”) was established in 1999 in the aftermath of the Asian financial crisis, and has provided an annual forum for high-level policy dialogue among OECD and Asian countries on topical issues of high interest from the viewpoint of capital market reform in Asia.
The Roundtable benefits from high-level participation from a range of backgrounds. The meeting in 2017 attracted high-ranking officials from finance ministries/treasuries, central banks and securities
regulators from 22 non-OECD economies, including China, India and all ASEAN nations (except for Brunei), as well as OECD member countries, such as Australia, Germany, Hungary, Japan, New Zealand, Switzerland, Turkey and the United States. It also brought together experts from international organisations, particularly BIS and IMF, as well as private sector representatives and academics.
In addition, the meeting welcomed the attendance of financial regulators/supervisors from Asian and African regions, who took part in the seminar organised by the Japanese Financial Services Agency (JFSA) as a back-to-back event with the Tokyo Roundtable.
Day One: 2 March 2017
Mr. Masatsugu Asakawa, Vice Minister of Finance for International Affairs, Japan
Session 1: Capital Flows in Asia: Identified Trends and Challenges in an Uncertain World with Slowing Trade and Lagging Economic Growth
Moderator: Mr. Bokhwan Yu, Deputy Dean, ADBI
Mr. Ranil Salgado, Assistant Director, Regional Studies Division, APD, IMF: Global Economic Outlook and Implications for Capital Flows to Asia
Mr. Ilhyock Shim, Principal Economist Representative Office for Asia and the Pacific, BIS: Asset Managers in EMEs: Implications for Capital Flows
Mr. Hirotaka Hideshima, Deputy Director-General, Financial Markets Department, BOJ: Recent Capital Flows in Asia: Comparison with “Taper Tantrum 2013”
Mr. Fan Zhai, Former Head of Asset Allocation, China Investment Corporation and Visiting Fellow, China Finance 40 Forum: Capital Flows in China: Some Recent Developments
Mr. Ephyro Luis Amatong, Commissioner, Securities and Exchange Commission, Philippines: Boosting Resilience Amid Uncertainty: Flows and The Role of Domestic Markets
Lead discussant: Mr. Stephen Lumpkin, Senior Economist, Financial Affairs Division, OECD
Mr. Naoyuki Yoshino, Dean, ADBI
Session 2: Capital Market Developments in Asia
Moderator: Mr. Grant Spencer, Deputy Governor and Head of Financial Stability, Reserve Bank of New Zealand, and Chair of the Committee on Financial Markets, OECD
Mr. Serdar Celik, Senior Economist, Corporate Affairs Division, OECD: Asian Equity Markets Review: Interim Report and Methodology for Discussion
Mr. Jun Mizuguchi, Deputy Commissioner for International Affairs, FSA, Japan: Transforming the Flow of Funds in the Japanese Financial Markets
Ms. Naoko Nemoto, Financial Economist, ADBI: Bond Market Development in Emerging Asia
Mr. Thuong Quang Nguyen, Deputy Director General of Market Development Department, State Securities Commission of Viet Nam (Former GLOPAC Visiting Fellow): Development of Derivatives Market in Viet Nam
Mr. Susanta Kumar Das, Deputy General Manager, Market Regulation Department, SEBI (GLOPAC Visiting Fellow): Trends of Flow of Funds in the Indian Capital Market
Lead discussant: Ms. Yoko Ogimoto, Senior Consultant, Nomura Research Institute
Day Two: 3 March 2017
Session 3: FinTech Developments and Regulatory Responses
Moderator: Mr. Masato Miyazaki, Deputy Vice Minister for International Affairs, MoF, Japan
Mr. Erik Vermeulen, Professor, Tilburg University: What is the Best Regulatory Response to FinTech?
Mr. Junichi Kanda, Director, Credit System Office, Planning and Coordination Bureau, FSA, Japan: Japan FSA’s Initiative to Create a Pro-FinTech Environment
Mr. Roy Teo, Director, FinTech & Innovation Group, MAS: Globalising FinTech: Smart Financial Centre
Ms. Flore-Anne Messy, Head of Financial Affairs Division, OECD: Maximising FinTech potential : Fostering Financial Innovation while Safeguarding Financial Stability and Consumer Protection
Ms. Bihong Huang, Research Fellow, ADBI: Promoting and Regulating FinTech in Asia: Case of Peer to Peer Lending
Lead discussant: Mr. Takahiro Yasui, Head of Special Projects and Outreach Unit, OECD
Special Presentation: Task Force on Climate-related Financial Disclosures: Overview of Report and Implementation Guidance
Mr. Masaaki Nagamura, Member of TCFD, and Head, Corporate Social Responsibility, Tokio Marine Holdings
Session 4: Financing of Green Infrastructure Investment
Moderator: Mr. Rintaro Tamaki, Deputy Secretary-General, OECD
Mr. Naoyuki Yoshino, Dean, ADBI: Green Energy Development: Role of Financing
Mr. Raffaele Della Croce, Lead Manager, Long-term Investment Project, OECD: Growth, Investment and the Low-Carbon Transition : OECD Contributions, G20 and APEC
Mr. Yasuhisa Nakao, Deputy Vice Minister for International Affairs, MoF, Japan: Japan's Actions to Promote Green Finance
Mr. Luky Alfirman, President Commissioner, Indonesia Infrastructure Guarantee Fund and MoF Indonesia: Guarantee Fund for Green Infrastructure Development - A Case of Indonesia: Prospects, Opportunities and Challenges
Mr. Syed Ahmad Syed Mustafa, Chief Executive Officer, GreenTech Catalyst Sdn Bhd: Derisking Green Investments – Malaysia Perspective
Lead discussant: Mr. Peter Morgan, Senior Consultant for Research, ADBI