Sberbank discusses prospects of LIBOR discontinuation
- Bank holds 4th Financial Institutions: Industry Innovations conference welcoming about 300 industry professionals that are Sberbank clients and partners
- Low interest rates, future of settlement business and prospects of Russian indicators ahead of upcoming discontinuation of LIBOR discussed at conference
November 28, 2019, Moscow — Sberbank has held the fourth annual conference called Financial Institutions: Industry Innovations. Representatives of Sberbank, the Bank of Russia, the Higher School of Economics and New Economic School, Russian and international banks and payment processors, along with non-banking financial institutions delivered speeches at the conference. About 300 financial experts who are Sberbank clients and partners attended the event.
Andrey Shemetov, Vice President, Head of Global Markets of Sberbank, opened the forum sessions and talked about technological challenges facing participants of the financial market and reforms of the regulatory and procedural areas.
The event welcomed three panel discussions: Low Interest Rates Worldwide and in Russia: Reasons and Consequences moderated by Oleg Zamulin, Director of Centre for Macroeconomic Research; Outlook for Settlement Business moderated by Stella Kudachkina, Head of the Correspondent Banking of Sberbank; Life without LIBOR and Prospects of Russian Rates amid Global Reforms moderated by Alexey Lyakin, Vice President, Director of Sberbank's Treasury. Yevgeny Kravchenko, Director of Trade Finance of Sberbank, presented the trade financing options of Sberbank Group.
Anatoly Popov, Deputy Chairman of the Executive Board, Head of the Corporate and Investment Business of Sberbank, closed the event with his report on the construction of the bank’s ecosystem for companies.
Olga Klyachko, Head of the Financial Institutions Division, Sberbank,
“For the fourth time we have a traditional meeting at the end of the year to discuss how the local and global financial industry is changing and how financial institutions react to this change. We talk about issues and solutions, innovations and technological challenges, which are at the same time possibilities to provide our clients with services of a qualitatively new level. This conference gives us insights, helps to exchange best practices and monitor the market reaction to what the bank does.”