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Calendar

Apr
5
Thu
Understanding the Common European framework for Supervisory Review and Evaluation Process (SREP) @ EUI Premises, Florence
Apr 5 – Apr 6 all-day
Understanding the Common European framework for Supervisory Review and Evaluation Process (SREP) @ EUI Premises, Florence | Fiesole | Toscana | Italy

Course Instructors: Slavka Eley, Oleg Shmeljov (European Banking Authority)
Area: Bank Regulation, Supervision and Resolution
Level: Intermediate

This course will focus on the following topics:

  • Business model Analysis;
  • Internal governance;
  • Assessing risks to capital;
  • Liquidity and funding;
  • SREP capital adequacy assessment;
  • SREP liquidity adequacy assessment;
  • Supervisory and early intervention measures

This course is targeted at SSM, SRB, ESRB, EU officials, economists and risk managers in financial institutions and private banks, lawyers and accountants, Ph.D. students, post-graduate researchers, assistant professors.

Click here for further information and registration

Apr
17
Tue
Online Seminar – Risk Reduction in the Banking Union: NPLs and Sovereign Debt Concentration @ FBF Online Platform
Apr 17 @ 1:00 pm – 2:00 pm


Download the presentation here

‘Risk reduction’ is a key condition to complete the Banking Union. Risk-reduction is understood to refer to two main issues: the treatment of Non-Performing Loans (NPLs) and the concentration of sovereign exposure.

In this online seminar, Daniel Gros and Willem Pieter De Groen (CEPS) will first argue that the stock of NPLs is by now well-known and should no longer be considered a ‘risk’. The only question that remains is whether banks are willing to recognise the losses, today or later. Also, there is little evidence that banks with high NPL ratios lend less. Low capital ratios constitute a more important determinant of lending.

Gros and De Groen will then claim that the concentration of sovereign exposures (on the domestic sovereign) should be looked at in the context of the overall balance sheet of the banks. They will show that banks with different business models in the three major euro area countries (DE, FR and IT) seem to follow very different incentives. On the one hand the countries with more dominant investment banks show less concentration because they rely more on market financing, which would become more expensive if the asset side of their balances shows excessive concentration. On the other hand countries with more retail oriented banks, the yield differential on peripheral government bonds, might be less of an issue at first sight, but becomes more important in the medium to long term when they have to issue bonds to fulfill the MREL requirements.


 

Speakers

Daniel Gros (Director, CEPS – Centre for European Policy Studies)

Daniel Gros is the Director of the think tank Centre for European Policy Studies (CEPS), which he joined first in 1986-1988 and then again in 1990. He has worked International Monetary Fund from 1983 to 1986, and served as economic advisor to the Directorate General II of the European Commission from 1988–1990, co-authoring the study targeted to design the Euro, the European Parliament from 1998-2005, as well as several government members, including the Prime minister and the Finance minister of France. He has also taught at the College of Europe in Natolin and numerous other universities throughout Europe. His current research primarily focuses on EU economic policy, specifically on the impact of the euro on capital and labour markets, as well as on the international role of the euro, especially in Central and Eastern Europe. He also monitors the transition towards market economies and the process of enlargement of the European Union towards the east.

 

 

Willem Pieter De Groen (Research Fellow and Head of Financial Markets and Institutions Unit, CEPS – Centre for European Policy Studies)

Willem Pieter De Groen is a Research Fellow at the Center for European Policy Studies (CEPS), heading the Financial Markets and Institutions Unit, and is an associate researcher at the International Research Centre on Cooperative Finance (IRCCF) of HEC Montréal, contributing to research on financial systems. He has authored and co-authored studies and coordinated projects on EU and Near East financial institutions regulation, diversity in bank ownership and business models, retail financial services and financial instruments. Moreover, he also works on small and medium-sized enterprises obstacles to growth and access to finance as well as collaborative economy and taxation.

 

 


 

Technical disclaimer

The online seminar will take place on the Adobe Connect platform. You can access the seminars from personal computers, laptops, tablets and smartphones. You are strongly encouraged to read the technical requirements before registering for the online seminar. To ensure an optimal experience in terms of connection speed and video quality, we suggest to attend the seminar via a device connected to a stable network connection, avoiding if possible shared wi-fi or mobile connections.

Apr
19
Thu
Credit and the Macroeconomy: Leverage Cycles, Asset Prices and Crisis @ EUI Premises, Florence
Apr 19 – Apr 20 all-day
Credit and the Macroeconomy: Leverage Cycles, Asset Prices and Crisis @ EUI Premises, Florence | Fiesole | Toscana | Italy

Course Instructor: Moritz Schularick (University of Bonn)
Area: Financial Stability and Macroprudential policy
Level: Intermediate

This course will focus on the following topics:

  • Financial cycles and the economy;
  • Interest rates and returns on capital;
  • Financial crisis prediction: tools and accuracy;
  • Bank capital and financial stability;
  • Debt overhang and recovery from crises;
  • Managing credit booms: macroprudential vs. monetary policy

This course is targeted at EBA, SSM, SRB, ESRB, EU officials, financial stability and research department of Central Banks, Ph.D. students, post-doc researchers; assistant professors; private sector economists.

Click here for further information and registration

Apr
24
Tue
Managing and Understanding Sovereign Debt Risks and Restructuring @ EUI Premises
Apr 24 – Apr 25 all-day
Managing and Understanding Sovereign Debt Risks and Restructuring @ EUI Premises | Fiesole | Toscana | Italy

Course Instructor: Lee C. Buchheit (Cleary Gottlieb Steen & Hamilton LLP); Mitu Gulati (Duke University); Jeromin Zettelmeyer (Peterson Institute of International Economics)
Area: Risk Management
Level: Intermediate

This course will focus on the following topics:

  • Sovereign default and restructuring risk;
  • How do sovereign borrowers get into trouble?
  • The warning signs of sovereign distress.
  • Initial maneuvers to escape and evade the crisis.
  • The options when the initial maneuvers don’t work — bailout or restructure
  • The evolution of sovereign debt restructuring techniques — 1982 to 2017
  • The role of the official sector
  • Contractual provisions that facilitate, or that retard, sovereign debt workouts
  • Sovereign debt restructuring after Greece and Argentina

This course is targeted at EBA, SSM, SRB, ESRB, EU officials, financial stability and legal department experts in Central Banks, Ph.D. students, private sector members, law firms and practitioners.

Click here for further information and registration

Apr
26
Thu
FBF Annual Conference: ‘Institutions and the Crisis’ @ Villa Schifanoia
Apr 26 all-day
FBF Annual Conference: 'Institutions and the Crisis' @ Villa Schifanoia | Firenze | Toscana | Italy

The annual conference of the Florence School of Banking and Finance, organised at the European University Institute (EUI) brings together leading economists, lawyers, political scientists and policy makers to critically analyse, review and debate the most salient elements and gaps of Europe’s post-crisis institutional architecture.

Organisers:

Franklin Allen | Brevan Howard Centre Imperial College
Elena Carletti | BAFFI CAREFIN Bocconi University and European University Institute
Mitu Gulati | Duke University

Background:

The crisis has turned Europe’s economic and financial governance into a patchwork of bodies, instruments and rules that are hard to disentangle. Against this background, the purpose of this conference is to critically analyse, review and debate the most salient elements and gaps of Europe’s post-crisis institutional architecture.

More specifically, the conference aims:
  • to draw analytical and practical lessons from the crisis management solutions provided by European Union institutions
  • to interrogate how courts discussed, challenged and legitimized the EU’s key crisis-led decisions
  • to look ahead and boldly ask and discuss what should be the Economic and Monetary Union’s optimal institutional set-up – also in light of a renewed and conceivably more dynamic French-German cooperation moment.

Sessions:

  • Session 1: A Look Back: Evaluating European Institutions’ Crisis Management
  • Session 2: Disentangling The Crisis And The Courts
  • Session 3: The Way Forward: The Eurozone’s Institutional Prospects

MORE INFORMATION AND REGISTRATION

Apr
27
Fri
EUI-nomics 2018 @ EUI Premises, Florence
Apr 27 all-day
EUI-nomics 2018 @ EUI Premises, Florence | Fiesole | Toscana | Italy

Since 2011, the EUI-nomics workshops provide an annual forum for discussion among academics, policy-makers and private sector economists. Current and expected global economic perspectives and conditions are reviewed and discussed, with a special focus put on the euro area and its Member States.

Leading economists will provide comprehensive briefings about each country or area’s economic outlook. The 2018 EUI-nomics workshop will be completed by a policy panel debating the extent of the remaining heterogeneity in the euro area and its implications for policy-making and market performance.

The event is organised by Prof. Massimiliano Marcellino in the framework of Pierre Werner Chair and Global Governance programme.

MORE INFORMATION AND REGISTRATION

May
2
Wed
Online Seminar – The Road to a European Monetary Fund @ FBF Online Platform
May 2 @ 1:00 pm – 2:00 pm


Register here

Participation free – registration mandatory


 

Abstract

The European Stability Mechanism (ESM) was established during the euro crisis to fill a gap in the institutional set-up of the monetary union: that of a lender of last resort for sovereigns. Several other reforms were also undertaken in that period, both at the national and at the supranational level. As a result, the euro area is now much stronger than before the crisis, both economically and institutionally. But a number of weaknesses to make EMU more robust still need to be fixed. In the debate about deepening the monetary union, a wider role for the ESM is one of the ideas under discussion.

In this online seminar, Rolf Strauch (ESM) will argue that developing a European Monetary Fund (EMF) is not a goal in itself, but could help to make the euro area economy more resilient. Various new functions are under discussion. Strauch will explain that there is a widespread consensus that these functions would be economically useful, and will stress that it is important not to miss this unique political opportunity to further integrate the monetary union.

Marcello Messori (School of European Political Economy, LUISS) will then provide his views and comments on the argument. As always the session will end with an interactive Question and Answers session.


 

Speakers

Rolf Strauch (Chief Economist and Member of the Management Board, European Stability Mechanism)

Rolf Strauch is the Management Board Member in charge of Economics, Policy Strategy, and Banking at the European Stability Mechanism and EFSF, which he joined in 2010. He is responsible for economic and financial analysis and policies, strategic orientation, and the country monitoring work that the ESM and EFSF undertake. He represents the ESM and EFSF in European fora, negotiates with Member States, and handles relations with credit rating agencies. Prior to this, he worked at the European Central Bank from 2000–2010 in the Directorate General Economics on fiscal, monetary, and structural policies. He also served previously as an economist at the Deutsche Bundesbank and as a researcher at both the University of Mannheim and the University of Bonn. He holds a Ph.D. in Economics from the University of Bonn and is a fellow at the Center for European Integration Studies (ZEI) in Bonn.

 

Marcello Messori (Professor of Economics, LUISS Guido Carli University)

Marcello Messori is Professor of Economics at the Department of Political Science, LUISS University and Director of the LUISS School of European Political Economy. He also chairs the Scientific Committee of Centro Europa Ricerche (CER) in Rome. Previously he taught in the Department of Economics at University of Rome ‘Tor Vergata’ and has been involved in several institutional activities, among others as Chairman of the government-established Society for the Development of the Italian Market of Pension Funds (MeFoP), and the president of the Italian Association of Asset Management (Assogestioni). He published widely in economic theory and applied economics and is a regular contributor to leading Italian newspapers, including “Corriere della sera” and previously “la Repubblica” and “Il Sole 24 Ore”.

 


 

Technical disclaimer

The online seminar will take place on the Adobe Connect platform. You can access the seminars from personal computers, laptops, tablets and smartphones. You are strongly encouraged to read the technical requirements before registering for the online seminar. To ensure an optimal experience in terms of connection speed and video quality, we suggest to attend the seminar via a device connected to a stable network connection, avoiding if possible shared wi-fi or mobile connections.

May
8
Tue
Bank Regulation for Supervisory Purposes @ EUI Premises, Florence
May 8 – May 9 all-day
Bank Regulation for Supervisory Purposes @ EUI Premises, Florence | Fiesole | Toscana | Italy

Course Instructors: Emiliano Sabatini, Antonio Schifino (Bank of Italy)
Area: Bank Regulation, Supervision and Resolution
Level: Introductory/Intermediate

This course will focus on the following topics:

  • An overview of the solvency ratio: regulatory capital and Pillar I risks.
  • The main answers of micro-prudential regulators to the crisis.
  • The backstop measures.
  • Pillar II and its role under the Single Supervisory Mechanism.
  • An overview of the main IFRS accounting standards on financial instruments and their implications from a regulatory perspective.
  • The main differences between the accounting and the regulatory frameworks with reference to consolidation.

This course is targeted at EBA, SSM, SRB, ESRB, EU officials, lawyers, political scientists, Ph.D. students, accountants, private sector economists.

Click here for further information and registration

May
22
Tue
Measuring and Forecasting Volatility and Risk @ Barcelona
May 22 – May 24 all-day
Measuring and Forecasting Volatility and Risk @ Barcelona | Barcelona | Catalonia | Spain

Course Instructors: Christian Brownlees (Universitat Pompeu Fabra), Fabio Canova (FBF and BI Norwegian Business School)
Area: Statistical and Econometric Methods
Level: Intermediate/Advanced

This course will focus on the following topics:

  • Estimation and forecasting.
  • Models of time varying correlations: estimation and forecasting.
  • VaR and Systemic risk: measures and forecasting techniques.

This course is targeted at Financial Stability and Research departments in central banks, Ph.D. and Post-doctoral researchers, Assistant Professors, Research department officers of private banks, EU institutions.

Click here for further information and registration

Online Seminar – FinTech @ FBF Online Platform
May 22 @ 1:00 pm – 2:00 pm
Online Seminar - FinTech @ FBF Online Platform

Participation free – registration mandatory

Registration will open in early May.


 

Speakers

Jean Dermine (Professor of Banking and Finance, INSEAD)

Giacomo Calzolari (Professor of Economics, University of Bologna)


 

Technical disclaimer

The online seminar will take place on the Adobe Connect platform. You can access the seminars from personal computers, laptops, tablets and smartphones. You are strongly encouraged to read the technical requirements before registering for the online seminar. To ensure an optimal experience in terms of connection speed and video quality, we suggest to attend the seminar via a device connected to a stable network connection, avoiding if possible shared wi-fi or mobile connections.