19th OECD-ADBI Tokyo Roundtable on Capital Market and Financial Reform in Asia

26-27 February 2019 - Tokyo

The 19th edition of the Tokyo Roundtable took place on 26-27 February 2019 at the Asian Development Bank Institute (ADBI) in Tokyo, Japan. Jointly organised by the ADBI and the OECD, in co-operation with the Government of Japan, this meeting focused on recent developments in capital markets, future capital markets facing the challenge of new financial technology and responsible, viable, and lifecycle infrastructure investments.

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 topics of main interest for capital market reform in Asia.

OPENING REMARKS
Mr. Greg Medcraft, Director, Directorate for Financial and Enterprise Affairs, ‎OECD
Mr. Naoyuki Yoshino, Dean, ADBI

KEYNOTE ADDRESS
Mr. Masatsugu Asakawa, Vice Minister of Finance for International Affairs, Ministry of Finance, Japan

DAY 1 - SESSION 1: Recent trends and prospects in the Asian capital markets under the rapidly changing economic and financial environment reflected by a series of US interest rate hikes and China’s economic slowdown

Moderator: Mr. Chul Juk Kim, Deputy Dean, ADBI
Speakers:
Mr. Akira Otani, Deputy Director-General, Financial Market Department, Bank of Japan
Mr. Robert Patalano, Senior Financial Expert and the co-ordinator of the OECD's Committee on Financial Markets (CMF)
Mr. Ilhyock Shim, Head of Economics and Financial Markets for Asia and the Pacific, BIS
Mr. Satoru Yamadera, Principal Financial Sector Specialist, ERCD, ADB
Lead discussant: Mr. Jean Pierre Lacombe, Director of Global Macro and Market Research Department in IFC

DAY 1 - SESSION 2: Some Asian countries in the face of population aging are required to adjust monetary and fiscal policies including social welfare; moreover, financial systems with rapid technological improvement should include elderly population

Moderator: Mr. Naoyuki Yoshino, Dean, ADBI
Speakers:
Mr. Junji Ueda, Director for Economic and Fiscal Policy Co-ordination, Ministry of Finance, Japan
Dr. Charles Yuji Horioka, Vice-President and Research Professor, Asian Growth Research Institute
Ms. Flore-Anne Messy, Head of Insurance, Private Pensions and Financial Markets Division, Directorate for Financial and Enterprise Affairs, OECD
Dr. Kirida Bhaopichitr, Director of TDRI Economic Intelligence Service, Thailand Development Research Institute (TDRI)
Lead discussant: Dr. Peter Morgan, Senior Consultant for research, ADBI

SPECIAL REMARKS
Mr. Masamichi Kono, Deputy Secretary-General, OECD

DAY 2 - SESSION 3
Part 1: Digital Finance: How Blockchain and Artificial Intelligence are transforming financial entities, businesses, and products

Moderator: Mr. Greg Medcraft, Director, Directorate for Financial and Enterprise Affairs, ‎OECD
Speakers:
Ms. Caroline Malcolm, Head, Blockchain Policy Centre, OECD
Mr. Motonobu Matsuo, Deputy Director-General of the Policy and Markets Bureau, FSA Japan
Mr. Sadakazu Osaki, Fellow, Head of Research, Center for Strategic Management and Innovation CMA(a member of the Securities Analysts Association of Japan), NRI, Ltd.
Dr. Xianguo (Jerry) Huang, Economist, AMRO
Mr. Benjamin Yablon, Co-founder and Chairman of SALT lending

Part 2: Some new digital financial services may require additional consumer and/or data protection, and be supported by the traditional safety net such as deposit insurance or lender of the last resort

Moderator: Mr. Aerdt Houben, Chair of the OECD Financial Market Committee/Director Financial Markets at De Nederlandsche Bank
Speakers:
Mr. Stephen Lumpkin, PhD
Dr. Marcelo Corrales, Visiting Scholar at the Institute of European and American Studies, Academia Sinica in Taiwan
Mr. Yutaka Soejima, Head of Fintech Center, Deputy Director-General, Payment and Settlement Systems Department, Bank of Japan
Mr. Robert Patalano, Senior Financial Expert and the co-ordinator of the OECD's Committee on Financial Markets (CMF)

DAY 2 - SESSION 4: Responsible, viable, and lifecycle infrastructure investments

Moderator: Mr. Timothy Bishop, Senior Advisor, Private Pensions and Financial Markets Division, Directorate for Financial and Enterprise Affairs, OECD
Speakers:
Mr. Naoyuki Yoshino, Dean, ADBI
Mr. Greg Medcraft, Director, Directorate for Financial and Enterprise Affairs Division, ‎OECD
Mr. Munenari Nomura, Director for Development Issues of the International Bureau of the Ministry of Finance, Japan
Mr. Ranjit Ajit Singh, Former Chairman of the Securities Commission (SC) Malaysia

CONCLUSIONS AND CLOSING REMARKS
Mr. Greg Medcraft, Director, Directorate for Financial and Enterprise Affairs, ‎OECD
Mr. Chul Ju Kim, Deputy Dean, ADBI

Tokyo business