PRESS RELEASE ON
THE CENTRAL BANK ROUND TABLE ON FINANCIAL STABILITY
On 6 June, 2008, the Magyar Nemzeti Bank hosted the ‘Central Bank Round Table on Financial Stability: Effects of market turbulences on Central and Eastern Europe’, an event organised for deputy governors and other senior executives of Central and Eastern European central banks. The participants of the meeting discussed the effects of the international financial market turbulence on the region and explored possible areas of co-operation on financial stability issues. Mr. András Simor, Governor of the Magyar Nemzeti Bank opened the event at the evening of 5 June, 2008. Ms. Júlia Király, Deputy Governor, drew the final conclusions. The participants of the meeting stated that the financial turmoil generated by the US subprime crisis affected only indirectly the banking systems of the Central and Eastern European region, and the shock-absorbing capacity of the financial institutions proved to be sufficient. Funding liquidity risks, effects on the lending activity, and cross-border co-operation among authorities enhancing financial stability will stay int he center of attention. The participants found the meeting very fruitful, and agreed to follow up the event prospectively with different locations and topics in one of the participating countries.
References:
Opening speech of Mr. András Simor, Governor