Professional Breakfast,
Charles Dallara,
Managing Director, The Institute for International Finance, Inc.

The speech and Q & A will be in English.

Fallout from the sub-prime mortgage crises continues to spread, taking its toll on financial institutions, securities markets and the global economy. Many experts believe that the crisis is by no means over yet and that at least one more major financial institution will fail before it can be contained. Meanwhile the outlook is for continuing turbulence in financial markets and for collateral damage to developed and emerging economies.

As managing director of the Washington-based Institute of International Finance, which represents more than 380 of the world's leading financial institutions, Charles Dallara is uniquely well qualified to present an inside-view of what is going on. As a former managing director at J.P. Morgan & Co., and before that U.S. assistant Treasury secretary and U.S. executive director at the IMF, Dallara brings a broad and expert perspective to bear on financial and monetary issues.

He will be holding a series of meetings in Tokyo with leaders of private finance and government officials to discuss global banking issues, the continuing uncertainties in financial markets and the challenges facing the global financial system. A key feature of his discussions in Japan will be the recently published special report of the IIF on the banking crisis.

He served in the late 1980s and early 1990s as the Assistant Secretary of the United States Treasury with specific responsibilities for key bilateral finance negotiations between the U.S. and Japan. Dallara was appointed by President George H.W. Bush as Assistant Secretary of the U.S. Treasury for International Affairs in 1989, serving until 1991. He also was Assistant Secretary for Policy Development and the Senior Advisor for Policy to the Secretary of the Treasury from 1988 to 1989, U.S. Executive Director of the IMF from 1984 to 1989, and Senior Deputy Assistant Secretary of the Treasury for International Economic Policy from 1985 to 1988. At J.P. Morgan & Co., he was head of investment and commercial banking in Eastern Europe and the CIS, the Middle East, Southeast Europe, Africa and India. He also chaired Morgan's Emerging Markets Risk Committee.

Charles Dallara