Financial Markets Panel
Summary of Discussion at Financial Markets Panel
Nomura Research Institute has launched the Financial Markets Panel (FMP) as a policy forum on financial markets. The FMP holds regular meetings participated by designated members both from academics and financial business. Discussions at each meeting is publicly announced as Summary of Discussion in Japanese and in English, in order to encourage active and insightful debates by policy makers, academic researchers and market practitioners in Japan and overseas.
Panel Proceedings and Related Materials
 
Aug 8. 2017
42nd meeting
Topic:Environment for BOJ monetary policy and outlook for "normalization"
Jun 20. 2017
41st meeting
Topic:Normalization of US monetary policy
Oct 29. 2015
36th meeting
Topic:China's recession and policy response
Oct 08. 2015
35th meeting
Topic:Local economies and finance in Japan today
Jun 16. 2015
34th meeting
Topic:Quantitative and qualitative easing - its performance and outlook
Mar 02. 2015
33rd meeting
Topic:Policy issues for central banks in the United States and the Euro-area
Nov 07. 2014
32nd meeting
Topic:Additional stimulus by the BOJ
Jul 03. 2014
31th meeting - 5th Anniversary Conference -
■Morning Session
  • Keynote Speech
    Mr. Kazuhito Ikeo
    Professor, Faculty of Economics, Keio University
    Topic : Unconventional monetary policy in Japan and the overseas
  • Panel Discussion (AM1)
    Topic : QQE - past and future
    Panelists :
    Mr. Izuru Kato, President, Totan Research
    Mr. Amane Ohshima, Executive Officer, Mizuho Bank
    Mr. Hajime Takata, Managing Executive Officer, Mizuho Research Institute
    Mr. Toshiaki Watanabe, Professor, Hitotsubashi University
    Moderator :
    Tetsuya Inoue, Mr., General Manager, Nomura Research Institute
  • Panel Discussion (AM2)
    Topic : Unconventional monetary policy - its effect and normalization
    Panelists :
    Mr. Shinichi Fukuda, Professor, University of Tokyo
    Mr. Kaoru Hosono, Professor, Gakushuin University
    Ms. Miyako Suda, Special Advisor, The Canon Institute for Global Studies
    Mr. Kazuto Uchida, Executive Officer, Bank of Tokyo-Mitsubishi UFJ
    Mr. Noriyuki Yanagawa, Professor, University of Tokyo
    Moderator :
    Tetsuya Inoue, Mr., General Manager, Nomura Research Institute
  • Concluding Remarks
    Mr. Nobuo Inaba
    President, Ricoh Institute of Sustainability and Business
    Topic : Summary of monetary policy discussions - future issues for Financial Markets Panel
■Afternoon Session
  • Keynote Speech
    Mr. Hirofumi Gomi
    Advisor, Nishimura & Asahi
    Topic : What role should Japan's banks play?
  • Panel Discussion(PM1)
    Topic : Revitalizing Japan's financial sector-outlook for bank functions
    Panelists :
    Mr. Yukio Egawa, Head of Research Division, Shinsei Securities
    Mr. Yukinobu Kitamura, Professor, Hitotsubashi University
    Ms. Yuri Okina, Vice Chairman, Japan Research Institute
    Mr. Katsuyuki Tokushima, Chief Pension Consultant, NLI Research Institute
    Moderator :
    Tetsuya Inoue, Mr., General Manager, Nomura Research Institute
  • Panel Discussion(PM2)
    Topic : Southeast Asia as a frontier for Japanese banks
    Participants :
    Mr. Takashi Kozu, Chief Research Fellow, Ricoh Institute of Sustainability and Business
    Mr. Taro Kubo, Chief Analyst, Rating and Investment Information
    Ms. Teruhisa Kurita, Supervisory Bureau Director, Banks Division I, Financial Services Agency
    Ms. Naoko Nemoto, Managing Director, Standard and Poor's
    Moderator :
    Tetsuya Inoue, Mr., General Manager, Nomura Research Institute
  • Concluding Remarks
    Mr. Kazuo Ueda
    Professor, University of Tokyo
Apr 02. 2014
30th meeting
Topic:Emerging market trends and implications
Jan 08. 2014
29th meeting
Topic:Central banks' role in maintaining financial stability
Oct 24. 2013
28th meeting - open conference -
■Session 1
  • Keynote Speech
    Mr. Haruyuki Toyama
    Director-General, International Department, Bank of Japan
    Topic : Foreign central bank monetary policy and its outlook - unconventional policy in the US and Turkey
  • Panel Discussion
    Topic : Fed quantitative easing - assessment and implications
    Panelists :
    Mr. Yukio Egawa, Head of Research Division, Shinsei Securities
    Mr. Kaoru Hosono, Professor, Gakushuin University
    Mr. Izuru Kato, President, Totan Research
    Mr. Amane Ohshima, Executive Officer, Mizuho Bank
    Mr. Kazuto Uchida, Executive Officer, Bank of Tokyo-Mitsubishi UFJ
    Mr. Toshiaki Watanabe, Professor, Hitotsubashi University
    Moderator :
    Tetsuya Inoue, Mr., General Manager, Nomura Research Institute
■Session 2
  • Keynote Speech
    Mr. Masatsugu Asakawa
    Deputy Vice Minister for Policy Planning and Co-ordination, Ministry of Finance
    Topic : Outlook for fiscal consolidation in Japan
  • Panel Discussion
    Topic : Central bank policy under fiscal consolidation
    Panelists :
    Mr. Yukinobu Kitamura, Professor, Hitotsubashi University
    Ms. Naoko Nemoto, Managing Director, Standard and Poor's
    Ms. Yuri Okina, Director, Japan Research Institute
    Mr. Hajime Takata, Managing Executive Officer, Mizuho Research Institute
    Mr. Katsuyuki Tokushima, Chief Fixed Income Analyst, NLI Research Institute
    Mr. Noriyuki Yanagawa, Professor, University of Tokyo
    Moderator :
    Tetsuya Inoue, Mr., General Manager, Nomura Research Institute
  • Panel Discussion
    Topic : Outlook for QQE - Financial Markets Panel topics
    Participants :
    Mr. Shinichi Fukuda, Professor, University of Tokyo
    Mr. Takashi Kozu, Chief Research Fellow, Ricoh Institute of Sustainability and Business
    Ms. Miyako Suda, Special Advisor, The Canon Institute for Global Studies
    Moderator :
    Tetsuya Inoue, Mr., General Manager, Nomura Research Institute
Sep 02. 2013
27th meeting
Topic:Review of FRB's QE3 and assessment of BOJ's "quantitative and qualitative easing"
May 07. 2013
26th meeting
Topic:Implications of "Quantitative and Qualitative easing"
Feb 27. 2013
25th meeting (Extended Panel)
Topic:Impact of monetary policy through exchange rates and long-term interest rates
Dec 07. 2012
24th meeting
Topic:Policy responses by the Bank of Japan
Oct 12. 2012
23rd meeting - An international conference to commemorate the IMF/World Bank Annual Meetings -
■Session 1 : Monetary policy transmission in the post-crisis economies
  • Keynote Speech
    Mr. Philip Turner, Deputy Head, Monetary and Economic Department, Bank for International Settlements
  • Panel Discussion
    Panelists :
    Mr. Shinichi Fukuda, Professor, University of Tokyo
    Mr. Kaoru Hosono, Professor, Gakushuin University
    Mr. Izuru Kato, Chief Economist, Totan Research
    Mr. Kazuto Uchida, Executive Officer, Bank of Tokyo-Mitsubishi UFJ
    Mr. Noriyuki Yanagawa, Professor, University of Tokyo
    Moderator :
    Tetsuya Inoue, Mr., General Manager, Financial Technology and Market Research Department, Nomura Research Institute
■Session2 : Financial environment for banking business by Japanese banks in Asia
  • Panel Discussion
    Panelists :
    Mr. Yukio Egawa, Chief Strategist, Shinsei Securities
    Mr. Yukinobu Kitamura, Professor, Hitotsubahi University
    Mr. Hajime Takata, Managing Executive Officer, Mizuho Research Institute
    Ms. Naoko Nemoto, Managing Director, Standard and Poor`s
    Takeshi Shimamura, Mr., Researcher, Nomura Research Institute
    Moderator :
    Tetsuya Inoue, Mr., General Manager, Financial Technology and Market Research Department, Nomura Research Institute
■Summary
  • Concluding Remarks
    Mr. Nobuyuki Kinoshita, Executive Director, Bank of Japan
Jul 19. 2012
22nd meeting
Topic : Issues for the European financial system
May 01. 2012
21st meeting
Topic : The BOJ's policy response under the "price stability goal"
Feb 06. 2012
20th meeting - FMP Conference to Commemorate the 20th meeting:Keynote Speech
Keynote Speech : Issues for Central Banks in 2012 - Reconsidering the Lender-of-Last-Resort
Mr. Masayoshi Amamiya, Executive Director, Bank of Japan
Dec 16. 2011
19th meeting
Topic : Japanese financial markets and the BOJ's policy response
Oct 07. 2011
18th meeting
Topic : European financial markets and the policy response
Aug 05. 2011
17th meeting
Topic : The US economy, financial markets, and Fed policy in the post-QE2 era
May 24. 2011
16th meeting
Topic (Session 1) : Post-Quake Issues and Policy Response from a Financial Markets Perspective Topic (Session 2) : Post-Quake Issues and Policy Response from the Perspective of Prices and the Economy
Mar 29. 2011
15th meeting
Topic : Japanese financial markets post-March 11 and the BOJ policy response
Feb 17. 2011
14th meeting
Topic : Comprehensive easing and domestic financial markets
Nov 24. 2010
13th meeting
Topic : QE2-In light of Japan's experience with QE and global implications
Aug 31. 2010
12th meeting
Topic : The Bank of Japan's Policy Response
Jul 06. 2010
11th meeting
Topic : European Financial Markets and the Policy Response
May 12. 2010
10th meeting
Topic : Measures to Maintain JGB Market Stability
Apr 12. 2010
9th meeting
Topic : US Financial Markets and Policy Administration and the Outlook for Monetary Policy in Japan
Feb 18. 2010
8th meeting
Topic : The BOJ's December Easing Measures and the Outlook for Monetary Policy
Dec 22. 2009
7th meeting
Topic : Discussion on Macroprudential Policy
Oct 23. 2009
6th meeting
Topic : Follow-up on Unconventional Monetary Policy and Discussion on Macroprudential Policy
Sep 30. 2009
5th meeting
Topic : Follow-up on Unconventional Monetary Policy and Discussion on Macroprudential Policy
Aug 28. 2009
4th meeting
Topic : Follow-up on Unconventional Monetary Policy and Discussion on Macroprudential Policy
Jul 06. 2009
3rd meeting
Topic : "Message" on Unconventional Monetary Policy
May 01. 2009
2nd meeting
Topic : Reevaluation of "Quantitative Easing"
Mar 16. 2009
1st meeting
Topic : "Unconventional" Monetary Policy
 
  Perspectives of "Unconventional Monetary Policy" Message from Financial Markets PanelPDF
-(Charts and Tables)(Overview of Financial Markets panel)PDF
 

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