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Financial Seminars

Global Finance Seminar Series: Challenges for Asian Finance in the Wake of the Euro area Crisis
19 November 2012

Presented by HKUST-NYU Stern Master of Science in Global Finance, CFA Institute & South China Morning Post

The latest in the popular series of Global Finance Seminars focused on how the Euro area financial crisis was altering risks and financing in Asia and steps to strengthen Asian financial systems.

Keynote speaker Sean Craig, IMF Resident Representative in Hong Kong SAR, discussed

  • the impact of the most recent phase of the global financial crisis on the international role of Euro area banks
  • implications of recent ECB policy actions on these banks
  • how Euro area banks were deleveraging in Asia and opportunities for Asian banks
  • the resulting greater dependence of Asia banks on dollar finance and the risks this created
  • homegrown pressures on Asian banks for rapid credit growth
  • rapid expansion of dollar corporate debt in Asia and the extent this could meet the region’s funding needs
  • policy challenges for Asian central banks from the growing reliance of the region on dollar finance

Other speakers / panellists included:

Mr Benoit Descourtieux, CFA, President, OP Investment Management Limited

Prof Xi Li, Assistant Professor, Department of Accounting, Hong Kong University of Science and Technology

Mr Paul Smith, CFA, Asia Pacific Operations, CFA Institute

Mr Brian Rhoads, Managing Editor, SCMP Publishers Ltd