Dr. Michael Pomerleano is on external service from The World Bank in Washington DC. He is now advisor on financial stability to the Bank of Israel. He was on external service with the Secretariat of Committee on the Global Financial System at the Bank for International Settlements until June, 08. The CGFS is a central bank forum established by the Governors of the G10 central banks to monitor and examine broad issues relating to financial markets and financial stability. Prior to that, he was the Program Manager for the World Bank's Financial Sector Policy Outreach Program. He has extensive operational financial experience in Asia, Latin America and Eastern Europe. He was Resident Advisor to Bank Indonesia in Jakarta, Indonesia for 2 years during a World Bank Financial Sector Development Program, and during the Asia Crisis worked extensively in Indonesia, and Korea. Michael Pomerleano was co-director of the World Bank, the International Monetary Fund and the Brookings Institute annual conference on Financial Markets and Development. Before joining the World Bank in 1992, he was with the supervision and regulation division of the Board of Governors of the Federal Reserve System, and the strategic planning department of the National Banking Group of Citicorp. He received his PhD and MA in Business Economics, a joint degree of the Harvard Business School and Harvard Economics Department, and his BA in Economics from Hebrew University in Jerusalem, Israel. His most recent publications include Corporate Restructuring: Lessons from Experience, with William Shaw ( World Bank April 2005) ; Asset Price Bubbles: Implications for Monetary, Regulatory, and International Policies, Curt Hunter, George Kaufman and Michael Pomerleano, eds. (Boston: MIT Press, 2002), Development and Regulation of Non-Bank Financial Institutions by Jeffrey Carmichael and Michael Pomerleano (Washington: World Bank, 2002), Open Doors: Foreign Participation in Financial Systems in Developing Countries by Robert E. Litan, Paul Masson and Michael Pomerleano, eds. (Washington: Brookings Institute Press, 2001) , Managing Financial and Corporate Distress by Charles Adams, Robert E. Litan and Michael Pomerleano, eds. (Washington: Brookings Institute, 2000).