Innovating Through Instability: The Future of Treasury & ALM October 7-8, 2025
Amsterdam
20+
20+ 150+ Sessions Speakers Attendees
Key Themes 2025:
Market Volatility
Organising treasury and ALM to mitigate risks in a constant volatile economic landscape
Interest Rate Risk
Adapting to lowering interest rate risks whilst maintaining stable profits
Tech & AI
Exploring the different ways AI can be used to enhance Treasury and Asset Liability Management including modeling, forecasting, data governance and more
Regulatory Outlook
Looking towards future shifts in the regulatory landscape, and how to best prepare for them
Digitalization
Looking towards the likely effects crypto assets, stable coins and digital currencies will have on Treasury management
Who’s Participating:
Koen De Leus
Chief Economist
BNP Paribas Fortis
Danny Dieleman Director Wholesale Banking Capital
Treasury ING
Christoffer Kok Head of Division, Stress Tests
European Central Bank
Milan Zvarik
Head of Treasury
Tatra Banka
Gor Gabuzyan Head of Group Asset & Liability Management
ProCredit Holding
info@cefpro.com
Agenda | Day 1 | October 7, 2025
8:00 REGISTRATION & BREAKFAST
8:50 CHAIR’S OPENING REMARKS
VOLATILITY AND UNCERTAINTY: TRUMP AND THE SIGN OF TIMES
9:00 Navigating blobal shifts: Interest rates, defaults, and the future of financial stability
• Investigating Trump as a consequence, not the catalyst, of changing times.
• Looking forward to the future, and predicting the continuation of volatility and uncertainty
• Exploring the long term expectation that interest rates will rise structurally higher
• Understanding why banks & financial institutions should expect the normalization of defaults and interest rate margins
Asking the question: Could Trump be making Europe great again? Koen de Leus Chief Economist, BNP Paribas Fortis
MARKET INSTABILITY, THE NEW NORMAL? – PANEL
9:40 Managing pricing, funding and bond issuance in the age of market instability
• How market instability has slowed bond issuance and where to look for new avenues to raise funding without relying on central banks
• Looking at how to organize treasury to reduce exposure to constant market volatility
Determining the best forecasting practices for strategic maneuvering and long-term risk planning
• How to plan pricing of assets as well as knowing where to reinvest funds in the event of exposure
• Weighing up the cost of potentially giving up profits to avoid vulnerability to volatility
• Discussing the benefits of moving finances ‘off balance sheet’ into structured products and investments to mitigate market risk Pavol Kiralvarga, Head of Wholesale Funding, Tatra Bank Andrew Smith, SVP Treasury & ALM, Bank of China
10:25 MORNING REFRESHMENT BREAK AND NETWORKING
CHANGING PERCEPTIONS OF KEY MARKETS AND DE-DOLLARIZATION
10:55 Analyzing recent geopolitical events and the shift away from concentrating reliance on single trade partners
• The effect of tariffs on perceptions of Europe’s top trading partners How banks can mitigate risks associated with this by diversifying trade portfolios across different nations
• The rising reliance on BRICS in wake of the weakening of the US dollar and increased hesitation around US stability
• Understanding your supply chains to see exactly how trade conflicts will affect investments and profitability
Dmitry Dolgin, Chief Economist, ING
SCENARIO PLANNING & STRESS TESTING
11:30 Approaching scenario planning and stress testing in an increasingly volatile world
• Enhancing scenario planning for volatility in the yield curve
• Improving a bank’s internal prudential risk environment through enhanced scenario planning and stress testing
• Incorporating the bigger macro-picture into your scenario planning
• Ensuring preparations consider the bank’s risk appetite as well as aligning plans with regulatory standards
Christoffer Kok, Head of Division: Stress Tests, European Central Bank
12.05
TRANSFORMING ALM FOR THE MODERN BANK
1:05 Strategic integration, smart analytics, and cloud-native innovation
• Explore how banks are unifying Liquidity Risk, FTP, and Regulatory Reporting with ALM, eliminating silos across Treasury, Finance, and business units.
• Discover how advanced modeling with built-in AI enhances predictive accuracy, scenario analysis, and proactive risk management. Learn how automation and real-time data processing elevate ALM programs, accelerating time-to-market, increasing operational agility, and ensuring seamless regulatory compliance.
• Gain insights into how a G-SIB successfully executed a phased, multientity migration to a cloud-native ALM solution, achieving agility, efficiency, and resilience on a global scale.
1:40 Understanding the treasury’s role in achieving sustainable finance goals and best practices to reach them
• Defining the treasury’s role in green and transition finance
• The treatment of green vs brown exposures in capital and liquidity planning
• Utilizing green bonds effectively to enhance customer growth and profitability
• Measuring ESG risks at individual, portfolio and industry levels to develop transition plans which align with the EBA guidelines Enhancing due diligence processes to ensure environmental and carbonization standards are being reached before lending money
Ramm Srinivasan, Cluster Lead – Sustainable Finance & ESG, Rabobank
THE EFFECT OF CLIMATE CHANGE ON LENDING POLICIES
2:25 Creating stringent lending policies to ensure stable margins when lending across geographies
• How to plan effectively where to place assets globally to reduce risks associated with climate issues
• Mapping out the exact long-term and short-term considerations needed to be contemplated when offering loans to businesses in high-risk climates
• Defining clear lending policies and climate risk criteria determining if issuing a loan is beneficial
3:00 AFTERNOON REFRESHMENT BREAK & NETWORKING
CRYPTO ASSETS - PANEL
3:30 Looking forward and discussing the effect crypto assets and stable coins could have on Treasury and Asset Liability Management
• Predicting the future outlook of EU regulation surrounding stable coins
• Discussing how they could affect future approaches to treasury and asset liability management
• Exploring how stable coins might reshape intraday liquidity forecasting and management
• Analyzing the risks associated with the use of digital coins, particularly regarding privately owned currencies
DIGITALISATION
4:15 Discussing the benefits and threats of the implementation of centralized digital currency
• Preparing financial institutions for a possible move towards digital currency as the preferred way to hold assets
• Discussing the long-term plans from central banks to create their own digital currencies to combat risks associated with privately owned currencies (such as the ECB’s digital euro) The risk this could pose to traditional commercial banks such as loss of stable deposit bases, increased funding costs and higher reliance on wholesale funding
• Discussing the opportunities presented by the implementation of a digital currency, as well as the regulations likely to be put in place to mitigate risks
4.50 CHAIR’S CLOSING REMARKS
5:00 END OF DAY 1 & NETWORKING DRINKS RECEPTION
Agenda | Day 2 | October 8, 2025
8:00 REGISTRATION & BREAKFAST
8:50 CHAIR’S OPENING REMARKS
NAVIGATING A VOLATILE INTEREST RATE ENVIRONMENT
- PANEL
9:00 Best practices for navigating lowering interest rates whilst maintaining profit margins and stability
• Predicting the future of interest rates and the key effects lowering rates will have
• Best practices for modeling and pricing deposits to reduce wholesale funding and maintain profits
• Discussing the most effective ways to strategically maneuver and best benefit from the changing interest environment
• Mitigating pre-payment risks through effective modeling
• The benefits of moving towards a more retail focused customer portfolio including higher dependence, regulatory favor and heightened stability
HEDGING STRATEGIES
9:45 Developing hedging strategies to ensure continuous funding and mitigate interest and market risk
• Using effective hedging strategies to lock in margins during periods of enhanced interest rate risk
• Creating evolving hedging strategies that shift with the changing geopolitical environment and yield curve
• Comparing the pros and cons of using dynamic vs programmatic hedging strategies
• Implementing effecting governance and controls for improved hedging strategies
THE FUTURE OF THE REGULATORY LANDSCAPE
10:20 Discussing the future changes in Europe’s regulatory IRRBB requirements and the effects they will have on Treasury and ALM
Outlining the prospects of changes in EBA IRRBB regulatory framework, emphasizing its consequences for balance sheet hedging across Europe’s banking sectors
• Discussing the heterogeneity of the impact of the IRRBB requirements on banks from euro- and non-euro member states
• Presenting possible strategies for adjusting to SOT requirements and diverging interpretations regarding the methodologies applied to measuring NII sensitivities
• How the proposed updates to regulatory shock scenarios align with the concept of level-playing-field across jurisdictions Adam Kot, Head of ALM Risk, Bank Pekao
10:55 MORNING REFRESHMENT BREAK AND NETWORKING
PREPARING FOR BASEL 3.1/4
11:25 Looking forward to the implementation of Basel 3.1 guidance and how it will affect pricing, structuring and profitability
• Discussing the need for more clarity on Europe’s decisions regarding Basel 3.1
• Analyzing how to prepare for a rise in capital requirements, the reasons for it, and how to ensure profitability remains steady Revising the standardized credit risk approach
Reviewing how the change in output floor will affect approaches to asset pricing and product structuring
BANK-FUND PARTNERSHIPS: RESHAPING THE CREDIT LANDSCAPE
12:00 How regulatory shifts and private credit growth are transforming bank treasury and ALM strategies
• How Basel 4 and Solvency 2 reforms are driving loan origination out of banks into private credit
• Exploring new ways banks are partnering with Alternative Investment Funds through loan sales, co-investments, and synthetic securitizations
• How insurers insurers gain yield through illiquid loans and how it allows for banks retain borrower relationships and generate fee income
Highlighting how these partnerships alter liquidity profiles and market risk dynamics for bank Treasury and ALM
• Adapting pricing models and balance sheet strategies to new deal structures and shared-risk exposures
Danny Dieleman, Director of Wholesale Banking Capital, ING
12:35 LUNCH BREAK AND NETWORKING
THE INSTANT PAYMENTS REGULATION
1:35 Developing strategies to manage liquidity risk post-implementation of the Instant Payment Regulation
Looking at the real time liquidity management challenges associated with the new Instant Payment Regulation
• Recalibrating intraday liquidity levels to ensure suitable buffers are in place to mitigate risks
• Adjustments to FTP models and internal pricing
• Preparing for the enforcement of the act across non-euro member states
INTRADAY LIQUIDITY RISK - PANEL
2:10 Enhancing visibility of real time balances, investment values and liquidity positions
• Understanding how to have the best grasp on real-time liquidity assets, including: up to date balances as well as investments and their most up to date current values
• Best practices for detecting drops in intraday liquidity as early as possible for effective mitigation Improving cash optimization in a high rate, high volatility market and maximizing working capital requirements
• Creating the most pro-active system for forecasting and funding intraday liquidity needs, including prioritizing payments, enhancing real-time communication and buying time
Milan Zvarik, Head of Treasury, Tatra Bank
2:55 AFTERNOON REFRESHMENT BREAK & NETWORKING
BANK RUN RISK - PANEL
3:25 Discussing the need for enhanced liquidity requirements in response to bank runs in a hyperconnected world
The importance of considering bank run possibilities when analyzing liquidity requirements post SVB crisis
• Understanding and weighing up risks with holding more liquidity to mitigate bank run risk vs maintain profitability
• Looking at the roles of social media and enhanced communication in heightening bank run risk and how to mitigate this
Gor Gabuzyan, Head of Group ALM, ProCredit Holding Alex Khromov, Head of ALM & Liquidity Risk, Belfius
USING AI TO ENHANCE TREASURY AND ALM - PANEL
4:00 Discussing the benefits and risk associated with the use of AI in Treasury and ALM
• The future of AI and automation in treasury, risk and finance
• Using AI for: data governance, model governance, predicting cash flows, forecasting, assumptions and more
• How AI can be used to help predict market volatility in an era of instability
The use of AI to harmonize reporting, help find overarching themes, and present information clearly across departments
• Using AI to upskill and enhance the workforce
• Discussing real use cases of where AI has been implemented successfully to enhance processes
4:45 CHAIR’S CLOSING REMARKS
5:00 END OF TREASURY & ALM 2025
Why should you be attending these sessions?
Interest Rate Risk
• Predict the future of interest rates and the key effects lowering rates will have
Learn the best practices for modeling and pricing deposits
Discuss the most effective ways to best benefit from the changing interest environment
Understand how to mitigate pre-payment risks
Market Instability
Understand how market instability has slowed bond issuance
• Look at how to organize treasury to reduce exposure to constant market volatility
• Determine the best forecasting practices for long-term risk planning
• Plan pricing of assets
Future Regulatory Landscape
• Outline the prospects of changes in EBA IRRBB regulatory framework
• Discuss the heterogeneity of the impact of the IRRBB requirements on banks
• Learn how the proposed updates to regulatory shock scenarios align with the concept of levelplaying-field across jurisdictions
Green Transition
• Define the treasury’s role in green and transition finance
• Utilize green bonds effectively to enhance customer growth and profitability
• Know how to measure ESG risks at individual, portfolio and industry levels
• Enhance due diligence processes to ensure environmental and carbonization standards are being reached before lending money
Digitilization
• Prepare your financial institution for a possible move towards digital currency as the preferred way to hold assets
• Discuss the long-term plans from central banks to create their own digital currencies
• Explore the risk this could pose to traditional commercial banks
• Discuss the opportunities presented by the implementation of a digital currency
Scenario Planning and Stress Testing
• Learn how to enhance scenario planning for volatility in the yield curve
• Improve your internal prudential risk environment through enhanced scenario planning and stress testing
• Understand how to incorporate the bigger macro-picture into your scenario planning
• Ensure your preparations consider risk appetite as well as aligning plans with regulatory standards
AI
• Learn the future of AI and automation in treasury, risk and finance
• Understand how AI can be used to help predict market volatility in an era of instability
• Explore the use of AI to harmonize reporting
• Use AI to upskill and enhance the workforce
Intraday Liquidity Risk
• Understand how to have the best grasp on real-time liquidity assets
• Learn the best practices for detecting drops in intraday liquidity
• Improve your cash optimization in a high rate, high volatility market
• Create the most pro-active system for forecasting and funding intraday liquidity needs
Sponsorship & Partnerships
Thought leadership
Advance your expertise, knowledge, and experience with a presentation, a panelist, or a roundtable discussion. Why not enhance that with an article published in Connect Magazine and CeFPro® Connect?
Lead generation
Meet with key decision makers and senior professionals at CeFPro® events, roundtables, or at an invite-only dinner.
Branding and awareness
Want to advance your organization and/or your products or offerings? What better way than at a live in-person event where you will meet leading decision-makers, or online through CeFPro®’s market intelligence reports, Connect Magazine, or Connect member’s hub.
Networking
Whether over coffee, lunch, drinks reception, or dinner, expand your network connections in person.
Positioning in the industry
Whether you are the industry leader or a start-up, CeFPro® has opportunities to maintain, advance, or promote your standing among the risk community.
Targeted and one-on-one meetings
General promotion is no replacement for connecting with key decision-makers and C-suite professionals, whether at an event, a closed-door forum, a networking reception, or a VIP dinner.
Reach business buyers
Outside of marketing and promotion, CeFPro®’s extensive range of offerings can provide clients with opportunities to reach key decision-makers and buyers.
Would your organization like to partner with us on this event?
To discuss how we can deliver your thought-leadership at the event, help you generate leads, and provide you with unique networking and branding opportunities, please contact sales@cefpro.com or call us on (+1) 888 6777007 | +44 (0)207 164 6582 for more information.
Co-Sponsor
2025 Speaker Line-up
Koen de Leus Chief Economist BNP Paribas Fortis
Gor Gabuzyan Head of Group ALM
ProCredit Holding
Christoffer Kok Head of Division: Stress Tests European Central Bank
Andrew Smith SVP Treasury & ALM Bank of China
Danny Dieleman Director of Wholesale Banking Capital ING
Alex Khromov Head of ALM & Liquidity Risk Belfius
Adam Kot Head of ALM Risk Bank Pekao
Ramm Srinivasan Cluster Lead –Sustainable Finance & ESG Rabobank
To view the full Vendor & Third Party Risk Dallas 2025 speaker biographies scan the QR code or click here
Dmitry Dolgin Chief Economist ING
Pavol Kiralvarga Head of Wholesale Funding Tatra Bank
Eoghan O’Griobtha UKI Managing Director Mirai Risk Tech
Milan Zvarik Head of Treasury Tatra Bank
Convince your Boss
#1 What Your Boss Will Say: “What’s included within the ticket price?”
“For the price of my ticket, I’ll have full access to both days of CeFPro’s Treasury & ALM Europe Summit, where we’ll explore critical priorities including interest rate risk, deposit modelling, liquidity optimisation, IRRBB, behavioural assumptions, Basel 3.1, and the growing impact of geopolitics and AI on treasury operations and balance sheet strategy.
The agenda has been built through detailed research with senior industry leaders and features a mix of expert-led presentations, technical panels, and interactive discussions—all designed to deliver practical, forward-looking insights we can bring back to strengthen our treasury and ALM frameworks.
The ticket also includes access to networking opportunities across both days with senior professionals in treasury, ALM, and risk complemented by breakfast, lunch, and refreshment breaks, as well as a dedicated drinks reception at the end of Day One.
Beyond the live event, I’ll gain post-event access to all speaker presentations and on-demand recordings enabling us to revisit key sessions and share relevant insights with the broader team. I’ll also benefit from continued access to the CeFPro Connect platform, which includes exclusive research, expert interviews, and deep dives into the most pressing regulatory and economic developments affecting treasury today.”
#2 What Your Boss Will Say: “Will you learn anything of value that we can integrate into our strategy?”
Yes every session at CeFPro’s Treasury & ALM Europe Summit is designed to deliver practical insights we can bring back and apply directly to our strategy. The agenda is shaped by in-depth research with senior leaders across treasury, ALM, and balance sheet functions, ensuring it tackles the real-world challenges financial institutions are facing today.
We’ll gain valuable perspectives on managing interest rate volatility, optimising deposit strategies, navigating Basel 3.1 and IRRBB expectations, and strengthening behavioural modelling across liquidity and funding. Sessions will also explore the role of AI in treasury, adapting to shifting market dynamics, and aligning treasury strategy with macroeconomic and geopolitical risk.
We’ll return with forward-looking ideas, benchmarking from industry peers, and actionable tools to refine our approach to balance sheet resilience, enhance regulatory alignment, and future-proof our treasury function.
Below is a breakdown of the seniority of the speakers you’ll gain insights from:”
#3 What Your Boss Will Say: “What specific benefits will attending this event bring to our team?”
Attending CeFPro’s Treasury & ALM Europe Summit will equip us with insights and strategies we can apply directly to enhance team performance and decision-making. The sessions are designed around the most pressing challenges facing treasury and balance sheet teams, including managing IRRBB, adapting to Basel 3.1/CRR III, optimising FTP frameworks, and navigating behavioural modelling in today’s volatile environment.
We’ll benefit from real-world benchmarking against peer institutions and hear how others are managing deposit flows, funding pressures, and liquidity risk under shifting regulatory and market conditions. The event also explores emerging areas like the integration of AI in treasury operations and adapting to geopolitical risk optics that are critical to shaping our longer-term strategy.
We’ll return with sharper clarity on regulatory expectations, practical approaches to treasury and ALM optimisation, and a set of shared insights that can support upskilling across our broader team.
#4
What Your Boss Will Say: “What will we do with you out of the office for 2 days?”
“While I’ll be out of the office for two days, the time will be focused entirely on gaining practical insights we can use to strengthen our treasury and ALM approach. I’ll be engaging with senior peers, regulators, and industry leaders to explore real-world solutions to challenges we’re actively managing like IRRBB, Basel 3.1 implementation, liquidity optimisation, and behavioural modelling.
This will be an opportunity to step away from day-to-day execution and think strategically about how we adapt our frameworks in response to regulatory shifts, macroeconomic volatility, and innovation across treasury technology and data.
To minimise disruption, I’ll ensure coverage is in place and remain available for urgent matters. I’ll return with targeted insights and practical takeaways we can immediately apply adding long-term value that far outweighs the short time away.”
#5 What Your Boss Will Say: “How will you share the knowledge and insights gained with the rest of the team?”
“I’ll share the insights and key takeaways through a structured debrief session with the team, highlighting the most relevant strategies and practical approaches around IRRBB, liquidity management, regulatory changes, and emerging trends like AI in treasury.
Thanks to access to post-event resources including presentation slides and on-demand recordings I’ll be able to curate tailored summaries and share supporting materials, ensuring the broader team can revisit sessions and deepen their understanding.
Additionally, I’ll encourage ongoing discussion and knowledge exchange to embed learnings into our dayto-day processes, helping us collectively strengthen our treasury and ALM capabilities and stay ahead of evolving market and regulatory challenges.”
For further help in convincing your boss to let you attend, Scan the QR code or click here for access.
Venue & Location
Rijksmuseum
Explore one of the most renowned museums in the world, home to masterpieces by Rembrandt, Vermeer, and other Dutch masters. The Rijksmuseum is just a short distance away, offering a perfect blend of art, culture, and history.
Vondelpark
Take a stroll through Amsterdam’s largest city park, where you can enjoy nature and outdoor activities in a tranquil setting. Vondelpark is just a short walk away, ideal for relaxation or informal meetings.
Stadhouderskade 12, 1054 ES Amsterdam, The Netherlands
Leidseplein
A lively square filled with theatres, cafes, and entertainment venues. Leidseplein is perfect for a casual evening out with colleagues or networking, located just minutes from the Marriott Hotel.
Nearby Hotels
The Concertgebouw
A world-class concert hall renowned for its acoustics and top-tier performances. Whether for a classical concert or a more contemporary show, The Concertgebouw provides a premium cultural experience just a short distance away.
Booking a hotel at Amsterdam Marriott Hotel places you right in the heart of Amsterdam close to a wide array of amenities and restaurants as well as offering seamless access to CeFPro’s Treasury & ALM Europe Summit. Other nearby accommodation options include:
• Hyatt Place Hotel – Relaxing and hospitable atmosphere perfect for a business trip.
• Park Centraal Amsterdam – Close to Leidseplein and Vondelpark, surrounded by art, culture and countless shops, Park Centraal is a place to embrace the new.
• Hotel Catalonia Vondel Amsterdam – Built across seven traditional Dutch-Style buildings, the Catalonia Vondel Amsterdam will surprise you with its modern, boutique-inspired interior.
• Leonardo Hotel Amsterdam City Center – Experience the essence of Amsterdam at the Leonardo Hotel Amsterdam City Center. Inside the traditional brick exterior are colorful, contemporary hotel rooms full of personality.
Amsterdam Marriott Hotel
Registration
Launch Rate August 15 From
Group Rates
Early Bird Rate
September 19
Standard Rate
After September 19
*For those representing a financial institution/government body
Seize the opportunity, bring the team to advance their professional development and knowledge with our group booking promotion.
50% OFF:
Purchase two tickets and receive the third registrant at 50% off the prevailing rate
Free Pass:
Don’t stop there, as the more people you register, the better the savings. With every four tickets bought, the fifth is on us, completely free!
Bringing your team not only enhances the overall experience, but also fosters significant team building among colleagues while allowing you to save on your registration.
What’s Included
Access to 20+ sessions
Networking: 7+ hours
Lunch + Refreshments
Networking cocktail reception
PPT slides/decks
Podcasts with industry experts
Videos and interviews from the event
Connect Magazine complimentary
CeFPro Connect membership
Community network and engagement
Market intelligence reports access
To register your place at the best rate possible, click here, or scan the QR code.
Topic Related Insights
Why Models Alone Won’t Save Asset Managers
Ronald Ratcliffe, PhD, Managing Director, Head Strategist – Portfolio Analytics, BlackRock
Liquidity used to be an afterthought. Today, it’s the difference between stability and systemic risk.
In an increasingly fragmented and unpredictable market environment, liquidity risk management has become one of the most urgent responsibilities facing asset managers.
The firms that will thrive are not the ones with the most data, but the ones who know when to challenge their models – and when to trust their instincts.
The transformation of liquidity risk from a secondary concern to a primary pillar of institutional resilience has been shaped by hard experience.
From the Global Financial Crisis to COVID-19 to the taper tantrum, we’ve seen time and again how fast liquidity can vanish – and how unprepared many investors are when it does.
The shift is clear: we no longer model what happened. We model what could happen and sometimes, what shouldn’t.
At BlackRock and across the wider industry, we’ve built sophisticated frameworks that go beyond daily volume or bid-ask spreads.
We stress-test portfolios using both real-world history and constructed chaos. The models help simulate disorder, track sellability, and quantify structural liquidity. But they are only as good as their last revision.
That’s why model governance must be treated as a living practice, not a policy binder gathering dust on a compliance shelf. Every assumption must be challenged. Every stress scenario must evolve.
This process is data-hungry, and public markets are fertile ground. The transparency and depth of listed securities allow for more refined model development.
But when you enter the world of private markets, the fog rolls in. Illiquidity, inconsistent disclosure, and limited comparables make private assets harder to map.
To continue reading click here, or scan the QR code.
Here, data scraping, natural language processing, and AI tools help parse general partner reporting and track subtle shifts in valuation methodology. These tools don’t replace the analyst’s eye – but they enhance it.
Topic Related Insights
Post-SVB Liquidity Rules Are Coming – But Don’t Expect Clarity
Shahab Khan, Head of Liquidity Policy, HSBC USA
In the aftermath of Silicon Valley Bank’s collapse, liquidity risk has become the focal point of regulatory debate – but don’t mistake urgency for clarity.
What emerged from a recent industry session was a strong consensus: SVB’s failure accelerated scrutiny, but the underlying regulatory momentum was already in motion. Now, financial institutions are navigating a shifting landscape of expectations, uncertainty, and evolving supervisory tone.
The session, set against a volatile political and regulatory backdrop, highlighted a paradox.
While the Biden administration had indicated late last year that regulatory reform would intensify, the new, more deregulatory administration has slowed implementation without scrapping the agenda.
The delay in execution has bought time, but not relief. Liquidity reforms are still coming – just not on a predictable schedule.
Capital adequacy may still dominate headlines, but as the speaker emphasized, SVB collapsed because of liquidity, not capital, failures.
The core issue was not about long-term solvency, but about institutions’ ability to withstand shortterm shocks.
Regulators are now turning their attention to refining the Liquidity Coverage Ratio and may begin demanding more granular data on oneto-seven-day outflows. This short-term horizon is increasingly seen as the weak link in otherwise sound liquidity frameworks.
Perhaps the most controversial idea floated was a potential shift in what qualifies as high-quality liquid assets.
Regulators are reportedly exploring a preference for reserves held directly at the Federal Reserve, instead of U.S. Treasuries.
While the rationale remains vague, this move could ripple through the Treasury market, impacting liquidity and pricing dynamics, especially for primary dealers.
To continue reading click here, or scan the QR code.
The conversation hinted at growing unease among policymakers about over-reliance on market-based liquidity during stress events.
Great minds think alike, but brilliant minds think differently.
Your New Personalized Gateway to the Latest Risk Intelligence has Arrived.
Join a community of industry leaders and the new generation of talent shaping the future of risk management.
For our global audience, Connect means access to exclusive, collaborative, high quality risk management insights and discussions, no matter where you are:
• Watch, listen, and read your way through our extensive library of resources
• Access exclusive interviews, presentations, thought-pieces, industry intelligence, and more
• Discuss the most talked about trending topics and share your perspective
• Collaborate with like-minded professionals and build new relationships
Embark on an exciting journey of discovery. Start exploring Connect today.
