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Jun
22
Fri
Online seminar – SBBS: from Theory to Practice @ FBF Online Platform
Jun 22 @ 1:00 pm – 2:00 pm

 

This online seminar focuses on the recent Commission proposal for a bespoke regulatory framework for sovereign-bond backed securities (SBBS). A novel concept, SBBS have the potential to contribute to a more resilient Banking Union and a more efficient Capital Markets Union by helping banks and other financial institutions better diversify their sovereign bond portfolios and by expanding the toolkit for private sector risk-sharing, especially across borders. But they face several regulatory hindrances, which result—in a way—from their own being so novel. The recent Commission proposal aims to eliminate such hindrances, thus giving SBBS a chance.

Commission officials will present the broad contours of the draft legislation, and will discuss the trade-offs faced when drafting it and the rationale underpinning the various choices made. The presentations will be followed by an interactive Questions and Answers session.

 

Speakers

Peter Grasmann (Head of Unit, Economic Analysis of Financial Markets and Financial Stability – DG FISMA, European Commission)

Peter Grasmann studied economics, law and statistics at Munich University and University of California at Berkeley. He holds a PhD in economics. Previously he worked as lecturer at Munich University and CALTECH and later in financial services as analyst and consultant. He joined the European Commission in 1991. He first worked on financial integration and capital movements, later on economic analysis and forecasting for the EU economy and subsequently as Head of unit on the economic relationship with candidate and potential candidate countries. After a year of secondment to the International Civilian Office in Kosovo (UN1244) he returned to Brussels to lead a team on economic analysis of financial markets and financial stability.

  

Davide Lombardo (Senior Economist, EU/Euro Area Financial Sector Unit – DG FISMA, European Commission)

Davide Lombardo is a senior economist with the EU/Euro Area Financial Sector Unit of the Directorate General for Financial Stability, Financial Services and Capital Markets Union at the European Commission. Currently he is in particular co-leading a work stream on the regulatory treatment of so-called Sovereign Bond-Backed Securities (SBBS). He joined the European Commission in 2016, after working for 15 years at the International Monetary Fund, including on several IMF Programs. He holds a Ph.D. degree in economics from Stanford (2001), with specialization in finance and international economics.

   

  


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.

Jun
28
Thu
Credit and Market Risk Management: A Value-based Approach @ EUI Premises, Florence
Jun 28 – Jun 29 all-day
Credit and Market Risk Management: A Value-based Approach @ EUI Premises, Florence | Firenze | Toscana | Italy

Course Instructor: Jean Dermine (Insead)
Area: Risk Management
Level: Intermediate

This course will focus on the following topics:

  • Probability of Default (PD) calibration and validation
  • Loss Given Default (LGD) – What do we know about LGDs?
  • Discount rate in LGDs.
  • Regulatory updates regarding LGDs.
  • Value-at-Risk.

This course is targeted at Financial stability and research department of Central Banks, Ph. D. students, private sector economists, EU officials.

Click here for further information and registration

Jul
5
Thu
Executive Seminar on Financial Surveillance @ Villa Salviati
Jul 5 @ 12:00 pm – Jul 6 @ 2:00 pm
Executive Seminar on Financial Surveillance @ Villa Salviati | Firenze | Toscana | Italy

Participation to this event is upon invitation only


This closed-doors, two-days Chatham House executive seminar on Financial Surveillance will (1) take stock of the state of the art in the supervision and resolution of banks and other non-bank actors in Europe; (2) will assess the market impact and developments of the recently implemented prudential and resolution rules and will (3) critically review current oversight gaps and risks and explore possible remedies. Compared to past editions which focussed on the banking sector, this executive seminar will look both at banks and non-banks realities.

The executive seminar will be held in the context of the Florence School of Banking and Finance’s 4th Advisory Council and Scientific Committee Meeting.

PROGRAMME

 


Scientific organisers:

  • Stefano Cappiello | Bank of Italy
  • Elena Carletti | Florence School of Banking and Finance and Bocconi University
  • Pierre Schlosser | Florence School of Banking and Finance
  • Emiliano Tornese | European Commission

Sep
19
Wed
Online seminar – The SSM approach to tackling NPLs: progress made and challenges ahead @ FBF Online Platform
Sep 19 @ 1:00 pm – 2:15 pm
Tackling NPLs has been one of the SSM priorities since its set up. NPLs weigh on banks’ balance sheets, impact on their profitability and divert resources from more proactive use. To this end the SSM has developed a comprehensive strategy to tackle NPLs which requires complementary actions from other EU stakeholders. The seminar will present the supervisory actions taken, outline the results achieved so far, and discuss the challenges ahead.
 

Speakers

Ignazio Angeloni Member of the Supervisory Board of the European Central Bank

Ignazio Angeloni, born in Milan, holds a degree from Bocconi and a PhD in Economics from the University of Pennsylvania. He has been Director of Monetary and Financial Research at the Bank of Italy; Deputy Director General of Research at the European Central Bank; Director for International Financial Relations at the Ministry of Economy and Finance of Italy and Director General for Financial Stability at the ECB. He has coordinated the ECB’s preparatory work for the Single Supervisory Mechanism. Currently he is a member of the Supervisory Board of the ECB. Since February 2017 he is also a non-voting member of the Single Resolution Board. A former Fellow of Bruegel, he has taught at various universities and is the author of books and articles in leading international economic journals.

 

Sharon Finn Advisor on Credit Risk & NPLs, SSM

Sharon Finn is an experienced Credit Risk Advisor and Project Management coordinator working within DGMS2 of the European Central Bank. Since joining the ECB, her work program has covered a broad range of Credit Risk topics across a number of countries including policy development and implementation relating to credit risk frameworks , credit underwriting standards, risk identification, NPLs, provisioning, collateral valuation, forbearance, strategic plans and reporting. She is responsible for advisory aspects relating to Credit risk for DGMS2 and is a member of the project management team of the ECB NPL Taskforce and has responsibility for coordinating a specific workstream of the taskforce focused on bank specific activities. Prior to joining the ECB, she worked in the Central bank of Ireland in the area of credit risk and macro prudential projects including the CBI Macro prudential lending guidelines. Prior to joining the public sector, Sharon worked for many years in Commercial banking roles in the Irish banking sector. This involved working both in new lending activities across a wide range of industry sectors, in Risk departments and also on the front line as a Credit Portfolio Manager of a distressed Commercial Portfolio focused on the restructuring of non-performing loans/provisioning assessments.

Anne Fröhling Head of Section, SSM

Anne Fröhling joined ECB Banking Supervision in 2014. As Head of Section she coordinates a Joint Supervisory Team and is thus closely involved in day-to-day supervision. In addition, since 2015 she is coordinating the Taskforce on Non-Performing Loans at the European Central Bank which developed the ECB NPL Guideline and Addendum. In former positions, Anne worked as project manager for Oliver Wyman and as Stress Test coordinator for the European Insurance and Occupational Pensions Authority (EIOPA).

 

 

Giuseppe Siani Deputy Director General of Microprudential Supervision IV, SSM

Giuseppe Siani is Deputy Director General of Microprudential Supervision IV. In this role, he covers a wide range of topics related to horizontal and specialised supervision. Before joining the European Central Bank, he has held various roles of increasing responsibilities both as supervisor and policymaker, including the Head of the supervisory tem of the then Italian largest cross-border banking group and Head of International Regulation at the Bank of Italy. Over the years he had also worked at the European Commission and had been a member of several Financial Stability Board (FSB) and Basel Committee on Banking Supervision (BCBS) working groups. He had also chaired the BCBS Working Group on Contingent Capital (2010-2012), the joint BCBS-CPSS-IOSCO Working Group on CCPs (2012-2014), the BCBS Risk Measurement Group (2012-2016) and the BCBS Working Group on Capital (2013-2017). After graduating in economics and finance, Giuseppe began his career in the reinsurance sector where he has worked on both finite-risk and natural events related products. He lives in Frankfurt am Main with his wife and two daughters.

 

 


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.
Sep
27
Thu
Liquidity Regulation: Concepts, Methods and Applications @ EUI Premises, Florence
Sep 27 – Sep 28 all-day
Liquidity Regulation: Concepts, Methods and Applications @ EUI Premises, Florence | Firenze | Toscana | Italy

Course Instructors: Bart Joosen (VU University), Stefano Cappiello (FBF), Jean-Jacques Van Helten (Visiting fellow, RSCAS; formerly Bank of Montreal)
Area: Bank Regulation, Supervision and Resolution
Level: Intermediate/Advanced

This course will focus on the following topics:

  • Liquidity Coverage Ratio and Net Stable Funding Ratio’s in the European Capital Requirements Regulation framework
  • Definition of High Quality Liquid Assets, the changing definition of safe assets and the forthcoming Simple Transparent and Standardised Securitisations
  • Stress testing, survival period and measurement of resilience against liquidity shocks
  • Internal Liquidity Adequacy Assessment (ILAAP), Risks not included in LCR
  • Relationship with recovery and resolution frameworks, importance of liquidity constraints for the definition of “failing or likely to fail”

This course is targeted at EU Officials (ECB, SSM, SRB, ESRB, EBA, ESM), Senior Policy Officers of Prudential Supervisors/National Central Banks, In-house Legal Counsels, External Lawyers, Treasurers with Banks, Senior Legal Officers, Funding Strategists.

Click here for further information and registration

Oct
9
Tue
Online seminar – Sustainable Finance: Rationale and Building Blocks @ FBF Online Platform
Oct 9 @ 1:00 pm – 2:00 pm

PARTICIPATION FREE – REGISTRATION MANDATORY

Click to register

By adopting the Paris Agreement on climate change and the UN 2030 Agenda for Sustainable Development in 2015, governments from around the world chose a more sustainable path for our planet and our economy. The UN 2030 Agenda has at its core 17 Sustainable Development Goals (SDGs). Over the next 15 years, these goals will guide us in preparing for a future that ensures stability, a healthy planet, fair, inclusive and resilient societies and prosperous economies. The Paris Agreement, signed in December 2015 by 195 countries, is the first-ever universal, global climate deal to adapt and build resilience to climate change and to limit global warming to well below 2°C. Sustainability and the transition to a low-carbon, more resource-efficient and circular economy are key in ensuring long-term competitiveness of the EU economy. The financial system has a key role to play here. The financial system is being reformed to address the lessons of the financial crisis, and in this context it can be part of the solution towards a greener and more sustainable economy. Reorienting private capital to more sustainable investments requires a comprehensive shift in how the financial system works. This is necessary if the EU is to develop more sustainable economic growth, ensure the stability of the financial system, and foster more transparency and long-termism in the economy. Such thinking is also at the core of the EU’s Capital Markets Union (CMU) project. The seminar will first present the recent Sustainable Finance Action Plan and will then focus on the key building blocks to define what sustainable economic activities are.


 

Speakers

Ugo Bassi (Director of Financial Markets in the European Commission’s DG FISMA)

Ugo Bassi is Director of Financial Markets in the European Commission’s DG FISMA (Financial services). Among other high priority files, he manages the Capital Markets Union (CMU), a key priority and catalyst for further financial integration in Europe. In that framework, he is responsible for the Sustainable Finance workstream and hence for the implementation of the Action Plan adopted on 8 March 2018. In addition, he deals with specific financial markets legislation including MiFID/R (Directive and Regulation on Financial Instruments); EMIR (Regulation on Derivatives); CCPs (recovery and resolution); MAD/R (Market Abuse Directive and Regulation); Asset Management including AIFMD, UCITS and EUVECA. From 2012 Ugo Bassi has worked as Director, in charge of coordination of legal matters and economic analysis within DG FISMA. He also managed specific topics such as the Accounting Directive and related issues, Company Reporting, Audit and Credit rating agencies. Moreover, he has worked to eliminate barriers to capital flows as well as enforcement of all financial services legislation. Between 2006 and 2012, he has held various management positions and was involved in negotiations on some key files in response to the financial crisis, prior to which he worked in public procurement, including the successful adoption of the Defence Procurement Directive. A lawyer by profession, Ugo Bassi worked as “referendaire” in the Court of Justice before joining the European Commission and he has worked in private sector law firms before taking up service within the European Institutions.

 

Juri Mara (Financial Economist Officer, European Commission, DG FISMA)

Juri Mara (Italy, 1980) holds a master’s degree in engineering from Politecnico di Milano (Italy, 2004), a master’s degree in Insurance and Risk Management from the MIB School of Management (Italy, 2005) and is Chartered Financial Analyst (CFA) chart-holder since 2013. He joined the European Commission DG FISMA in 2015 and has worked on important policy files like the Call for Evidence and more recently Sustainable Finance. Before this appointment he has worked for 10 years in the financial sector in France and Belgium including public and private banks, insurance company and credit rating agency.

     

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.

Oct
17
Wed
Macroprudential Policy Implementation in Europe @ EUI Premises, Florence
Oct 17 – Oct 19 all-day
Macroprudential Policy Implementation in Europe @ EUI Premises, Florence | Firenze | Toscana | Italy

Course Instructors: Senior staff members from the ESRB Secretariat and the ECB
Area: Financial Stability and Macroprudential policy
Level: Introductory/Intermediate

This course will focus on the following topics:

  • Macroprudential policy framework, objectives and instruments
  • Implementation challenges (e.g. calibration, cross-border effects, leakages, transmission)
  • The use of capital-based instruments (e.g. countercyclical capital buffer, structural buffers, risk weights)
  • The use of asset-based instruments, in particular for the real estate sector
  • The use of liquidity instruments (e.g. liquidity coverage requirements. net stable funding ratio, loan-to-deposit ratio)
  • Macroprudential policy beyond banking

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

Oct
25
Thu
Online seminar – Banking on Bail-in @ FBF Online Platform
Oct 25 @ 1:00 pm – 2:00 pm

PARTICIPATION FREE – REGISTRATION MANDATORY

Click to register

We are now 10 years after the seminal Lehman event, which was followed rapidly by other failures, bailouts and ‘shotgun’ marriages of the Great Financial Crisis. With hindsight, have we built effective solutions to the issues of bank failures and systemic risk? The discussion will explore what’s in place today – both on a conceptual policy level, and whether those solutions pass a credibility test for effectiveness now. Finally, it will explore the remaining issues – the ‘to do’ list – and ask what are the key policy risks, and how we can address them. The online seminar will look at cross-border issues – both international and intra EU – and will spend some time on the relationship between bail-in and the Banking Union.


 

Speakers

Wilson Ervin (Vice Chairman, Group Executive Office, Credit Suisse Group AG – New York)

Wilson Ervin is a Vice Chairman at Credit Suisse in the group executive office. He works on a variety of strategic projects, especially policy reforms related to bank capital and ending “too-big-to-fail”. He also chairs the Credit Suisse Americas Foundation, the Impact Investment Advisory Council, and the Partner Asset Facility. Prior to his current role, Mr. Ervin was the Chief Risk Officer of Credit Suisse, a member of the Executive Board, and chair of the Capital Allocation and Risk Management Committee. From 1990 to 1998, Mr. Ervin worked at Credit Suisse Financial Products, where he headed new product development. Before 1990, he held various roles in capital markets (both fixed income & equity), Australia investment banking, and the Mergers & Acquisitions group. Mr. Ervin recently received the Risk Magazine “Lifetime Achievement Award” for his efforts to end “too big to fail”. He currently serves on the board of Worldwide Orphans (WWO), City Harvest, and the Corporate Partnerships Committee of the Environmental Defense Fund. Mr Ervin received his A.B., summa cum laude, in economics from Princeton University. In early 2012 he wrote the seminal article on Bail-in published in the Economist and has been active on the topic since then.

 

Patrick Honohan (Honorary Professor of Economics at Trinity College Dublin; Nonresident Senior Fellow at the Peterson Institute for International Economics)

Patrick Honohan was Governor of the Central Bank of Ireland and a member of the Governing Council of the European Central Bank from September 2009 to November 2015. He is an honorary professor of economics at Trinity College Dublin and a nonresident senior fellow at the Peterson Institute for International Economics, Washington, DC. Previously he spent twelve years on the staff of the World Bank where he was a Senior Advisor on financial sector issues. During the 1990s he was a Research Professor at Ireland’s Economic and Social Research Institute. In the 1980s he was Economic Advisor to the Taoiseach (Irish Prime Minister) Garret FitzGerald. He also spent earlier spells at the Central Bank of Ireland and at the International Monetary Fund. A graduate of University College Dublin, he received his PhD in Economics from the London School of Economics in 1978. He has taught economics at the London School of Economics, at University College Dublin and as a visitor to the University of California San Diego and the Australian National University as well as at Trinity College Dublin. He was elected a member of the Royal Irish Academy in 2002.

 

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.

Nov
5
Mon
Economic Forecasting for Banking @ EUI Premises, Florence
Nov 5 – Nov 7 all-day
Economic Forecasting for Banking @ EUI Premises, Florence | Firenze | Toscana | Italy

Course Instructor: Massimiliano Marcellino (Bocconi University and EUI)
Area: Statistical and Econometric Methods
Level: Introductory/Intermediate

This course will focus on the following topics:

  • The main macroeconomic drivers of banking performance
  • Modelling economic variables using linear regression models
  • Using linear regression models for point, interval and density forecasting
  • Forecasting in time of crisis: how to detect and handle parameter instability
  • Forecasting in an evolving context: introducing dynamics in the linear models
  • Forecast evaluation, comparison and combination

This course is targeted at EBA, ESRB, SSM, SRB, EU Institutions, Financial Stability officers, Economics Departments And Forecasting Departments of Central Banks, Ph.D. and Post-doctoral researchers, Research department officers of private banks.

Click here for further information and registration

Nov
21
Wed
Autumn School – The Law, Economics and Practice of EU Banking Resolution @ EUI Premises, Florence
Nov 21 – Nov 23 all-day
Autumn School - The Law, Economics and Practice of EU Banking Resolution @ EUI Premises, Florence | Firenze | Toscana | Italy

Course Directors: Stefano Cappiello (FBF), Bart Joosen (VU University, Amsterdam)
Course Instructors: Eleni Angelopoulou (ECB), Stefano Cappiello (FBF), Andrea Federico (Oliver Wyman), Seraina Grünewald (University of Zürich), Bart Joosen (VU University), Emiliano Tornese (DG Fisma, EC), Tobias Tröger (Goethe University, Frankfurt)
Area: Bank Regulation, Supervision and Resolution
Level: Intermediate

Learning objectives:

  • Acquire the essentials of the new EU banking resolution regime – its rules and principles, actors and procedures
  • Understand and apply the key concepts of bank resolution (e.g. Resolution Tools, Resolution Objectives, Bail-In, No Creditor Worse Off in Liquidation, Minimum Requirements for Own
  • Funds and Eligible Liabilities, Total Loss Absorption Capacity)
  • Learn how to assess recovery plans in practice
  • Learn how to design and implement resolution plans in practice

This course is targeted at policy-makers and experts from European institutions and agencies, National Finance Ministries, National Central Banks, National Resolution Authorities; officials from Foreign Affairs Ministries; Private lawyers and private banking practitioners; PhD researchers and post-doc researchers.

Click here for further information and registration