SAFE Policy Lecture: Daniel C. Hardy (IMF)
Title: Progress and Perils Along the Way to a Banking Union
Speaker: Daniel C. Hardy, IMF
Moderator: Mark Wahrenburg, SAFE&Goethe University
The SAFE Policy Center welcomes Daniel C. Hardy, Division Chief in the Monetary and Capital Market Department of the International Monetary Fund (IMF), to present analysis and recommendations from the recently completed Financial Sector Assessment Program (FSAP) for the euro area. The IMF´s euro area FSAP is an in-depth, critical examination of euro area financial sector policies and, in particular, of the functioning of the Banking Union. Dr. Hardy´s talk will include: (i) an overview of the financial strengths and weaknesses of the main euro area banks; (ii) an assessment of how far the Single Supervisory Mechanism has succeeded in strengthening bank oversight; and (iii) a review of the mechanisms put in place to manage a possible banking crisis. It will be argued that more coherence in the crisis management system is essential for reducing risks and levelling the playing field across the banking union.
Daniel C. Hardy is currently a Division Chief in the Monetary and Capital Market Department of the International Monetary Fund. Most recently he led the Euro Area Financial Sector Assessment Program. During his career he has worked on macroeconomic and financial sector surveillance; Fund-supported programs; and technical assistance regarding financial sector policies in a wide range of industrialized, emerging market, and developing countries. He has undertaken research on such topics as cross-border policy coordination, credit market behavior, and stress testing. He studied at the universities of Oxford and Princeton.