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ECB President Mario Draghi, Larry Summers, Jacob Frenkel, and Central Bank Governors from Chile and Ireland to Participate in Professional Farewell Conference in Honor of Stanley Fischer.

The Conference will focus on the roles of central banks and on corporate governance at the Bank of Israel.

On June 18, 2013, the Bank of Israel will host a professional Farewell Conference in honor of departing Governor Prof. Stanley Fischer. The conference will be dedicated to discussing the changing roles of central banks around the world following the global financial crisis, and to examining the corporate governance regime at the Bank of Israel a year and a half after the Monetary Committee and the Supervisory Council began to operate.

ECB President Mario Draghi will address the Conference on the topic of developments in monetary policy and its limitations. Also speaking at the Conference, on the topic of the role of the central bank in macroprudential policy, will be Central Bank of Chile Governor Rodrigo Vergara, Central Bank of Ireland Governor Patrick Honohan, and Claudio Borio, Deputy Head of Monetary and Economic Department of the Bank for International Settlement (BIS).

Other speakers at the conference include Jacob Frenkel, former Governor of the Bank of Israel and currently Chairman of JP Morgan Chase International; former US Secretary of the Treasury Larry Summers, currently at Harvard University; Columbia University’s Michael Woodford, one of the world’s leading economists in the field of monetary policy; Dan Propper, the Chairman of the Supervisory Council at the Bank of Israel, and other Bank of Israel officials.

Approximately 350 people have been invited to the conference. The cost is about NIS 160,000, which includes the expenses of hosting some of the participants from abroad. In addition, the Bank of Israel will hold a reception with President Shimon Peres, the Prime Minister, ministers, top banking system executives, and other leading figures in the economy. The reception will be held at the Bank of Israel on June 23, 2013, and about 280 people will be invited. The cost of the reception is estimated to be NIS 90,000.

Media coverage arrangements will be published during the week by the Bank of Israel’s Spokesperson’s Office.