A tale of two crises: COVID-19 and the financial system
b'Dr Julia Giese, Bank of England, discusses the impact of Covid-19 on the financial system and how banks can play their part in economic recovery. Date\\n14 October 2020, 12:30pm - 1:30pm\\n\\nLocation\\nOnline\\n\\nEvent Recording:\\n\\n\\nCOVID-19 has caused a global collapse in activity and loss of jobs that is probably unprecedented in its scale and speed.\\n\\nSmall and large businesses across every country in the world have had to close their doors to customers and employees. The sharp accompanying decrease in firms\\u2019 revenues and households\\u2019 incomes will result in the first global recession since 2009. It will also present the global financial system with its largest stress event since at least the global financial crisis.\\n\\nDr Julia Giese, Bank of England, and Professor Cameron Hepburn, INET Oxford, will discuss that banks are now part of the solution, rather than part of the problem, thanks to regulatory and institutional reforms over the past decade. Heeding the lessons from the Global Financial Crisis has paid dividends. They will outline some early lessons from the COVID-19 crisis for the financial system going forward.\\n\\nThis talk is in conjunction with The Smith School of Enterprise and the Environment at the University of Oxford and the Oxford Review of Economic Policy.'