Complete video at: http://fora.tv/2009/04/28/Stefan_Ingves_Monetary_Policy_in_a_Financial_Crisis

Stefan Ingves, head of Sweden's Riksbank, explains why it takes three to five years for a bank to collapse. As a result, he argues, executive bonuses should be paid over a longer time frame.

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Failing banks, frozen credit markets, a faltering economy ... sound familiar? That was the situation in Sweden in the early 1990s. One of the key architects of the Swedish government's response was Stefan Ingves, who gives this talk at Duke University. - Duke University

Stefan Ingves is Chairman of the Executive Board and Governor of the Riksbank. He is a member of the ECB General Council and a member of the Board of Directors of the Bank for International Settlements (BIS). He is also Sweden's governor in the International Monetary Fund.

Mr. Ingves has previously been Director of the Monetary and Financial Systems Department at the International Monetary Fund, Deputy Governor of the Riksbank and General Director of the Swedish Bank Support Authority. Prior to that, he was Under-Secretary and Head of the Financial Markets Department at the Ministry of Finance. Ingves holds a PhD in economics.