Banking conference puts spotlight on market volatility

Wednesday, 7 December 2011  Features

What can be done to ensure there isn’t another credit crunch, and is there a way of ending the risks of bundling mortgage finance into collateralised debt obligations? These are just some of the topics to be debated at the 24th Australasian Finance and Banking Conference as academics and senior financial professionals review the last banking crisis in 2008-2009, and try to understand how banks performed during this period.

"The conference will examine what happened in the GFC, and the volatility in the markets, among many other topics. There are many lessons we should learn now, before there is another crisis," said Professor Fariborz Moshirian, the conference convener.

This high-level conference, which is organised by the Australian School of Business, will discuss the main challenges affecting the banking and finance industries in the Asia Pacific region. Up to 300 people from 30 countries are expected to participate in the conference.

Mr Ric Battellino will officially open the conference with the keynote speakers’ address. Ric Battellino is the Deputy Governor of the Reserve Bank of Australia and a member of the Reserve Bank Board.

Professor Fariborz Moshirian from the Australian School of Business said in past years the conference had been successful in bringing together the world’s foremost thought leaders from the financial community. "The Australasian Finance and Banking Conference is the most prestigious finance conference in the Asia-Pacific region, and one of the top three finance events in the world. It will put the spotlight on Sydney as a major financial centre in the region and explore the way Australia, as a regional hub, could assist the Asia Pacific to develop a more sophisticated regional financial system."

Professor Moshirian said the milestone event features a debate about finance issues that have dominated markets in 2011, including how exchange-traded funds (ETF) work. These are investment funds traded on stock exchanges, much like shares, which also go through extreme corrections in periods of volatility, and the conference will explore why. There is also the question of why stock markets operate so locally, when much financial activity is globally centred.

"There will also be a deep analysis of the failure of Fannie Mae and Freddie Mac. They were chartered by the US Congress to provide liquidity, stability, and affordability to the US housing and mortgage markets. Instead, in the GFC, they just helped to spread the contagion by allowing lenders to borrow against their assets," Professor Moshirian said.

The conference will include the following speakers & topics:

Professor Viral Acharya, New York University
Topic: Guaranteed to Fail: Fannie Mae, Freddie Mac and the Debacle of Mortgage Finance
Professor Rene Stulz, Ohio State University
Topic: Understanding bank performance during the crisis
Professor Andrew Karolyi, Cornell University
Topic: Are assets still priced locally, not globally?
Professor Richard Roll, UCLA
Topic: Volatility, Correlation, and Factor ETFs

24th Australasian Finance and Banking Conference

When: 14th to 16th December 2011
Where: The Shangri-La Hotel, The Rocks, Sydney
Contact: Professor Fariborz Moshirian on 02 9385 5859 or email

Please note interested media should register beforehand and set up their equipment prior to 11.20am. No access after that time will be possible.