Virtual Conference on Financial Technology, Climate Change, and Challenges for Central Banks and Financial Regulators in Asia 2023 | Asian Development Bank (ADB) | 24 September 2023 | Online

Technology firms’ new and innovative banking services are rapidly transforming the banking industry. This has significant implications for the effectiveness of monetary policy since its main transmission mechanisms are based on influencing the cost of financing to the traditional commercial banking sector.

At the same time, a growing number of central banks are examining the impact of digital money and crypto assets and exploring the feasibility of issuing central bank digital currency. In the process, security and data privacy risks, reputational risk, and concentration risks must be carefully considered, especially when dependent upon a few large technology companies.

This virtual conference will explore Asia’s financial technology development, prospects for central bank digital currency utilization, and outlook for central banking and financial supervisory practices. It will also examine climate change-related financial risks and how digitalization can help central banks and financial supervisors mitigate them and ensure financial sustainability.

Objectives
• Discuss the impact of digitalization on central banking operations and monetary policy transmission in Asia
• Spotlight climate change-related financial risks, associated central bank and financial supervisor practices, and the role of financial technology (fintech)
• Describe how fintech, regulatory technology (regtech), and supervisory technology (suptech) are affecting monetary policy transmission and financial stability
• Target Participants
• Central bank officials and other policy makers, researchers from think tanks, universities, and international organizations, and interested members of the public

Output
• Enhanced understanding of central bank and financial supervisory practices and challenges regarding financial technology and climate change risk
• Greater impetus for related policy dialogue and research
• Presentation materials from the virtual conference will be made available on the ADBI website