logo-euiFlorence School of Banking & Finance
Qualitative

Third edition: 17 January – 11 February 2022

Early bird fee: 20 December 2021

Registration deadline: 09 January 2022

Register here 
  • General description

    The Bank Resolution online Academy will foster a deep and comprehensive understanding of the EU bank resolution rules and procedures. This 3-week online Academy is designed to provide participants from different backgrounds (public authorities, private practitioners and academics) with the opportunity to sharpen their knowledge on bank resolution, and to put in practice many of its building blocks and core elements via ‘learning by doing’.

    The Academy’s instructors will deliver an overview on the EU resolution framework, including the revised Bank Recovery and Resolution Directive and the Single Resolution Mechanism Regulation, on the resolution objectives and on recovery and resolution planning. Particular emphasis will be given to more technical aspects such as the calibration of the Minimum Requirement for own funds and Eligible Liabilities (MREL)/Total Loss-Absorbing Capacity (TLAC), the external sources of resolution financing subject to state aid assessment, the role of deposit guarantee schemes in resolution, and the different valuation scenarios. The Bank Resolution online Academy will also foster a dialogue about the future challenges for the EU resolution framework, as well as the circumstances related to the COVID-19 pandemic. Finally, the Academy will engage with the more practical aspects of a resolution process, including the different roles assigned to national and EU authorities and the special features of cross-border cases.

    The online Academy combines self-paced progression moments (with pre-recorded lectures) and live online activities. It also includes multiple instructor-led occasions for participants to work in groups (in breakout rooms and in forum discussions), including a simulation exercise of a resolution process.

  • Topics covered

    • The (revised) EU resolution framework: the Bank Recovery and Resolution Directive (BRRD) and the Single Resolution Mechanism Regulation (SRMR)
    • Recovery and resolution planning
    • Minimum Requirement for own funds and Eligible Liabilities (MREL) and Total Loss-Absorbing Capacity (TLAC) rules
    • Resolution financing and access to external public sources
    • The role of deposit guarantee schemes in resolution
    • Precautionary recapitalisation, state aid and the use of the Single Resolution Fund
    • Valuation in resolution
    • Future challenges to the EU resolution framework

  • Meet the instructors

    Academy directors

    Seraina Grünewald (Radboud University Nijmegen)
    Seraina Grünewald holds the Chair for European and Comparative Financial Law at Radboud University Nijmegen. She is also affiliated with the interdisciplinary University Research Programme Financial Market Regulation at the University of Zurich. Previous positions include research appointments at the Institute for Financial Services of the University of Liechtenstein, the Program on International Financial Systems of the Harvard Law School, Yale Law School and Columbia Law School. Seraina Grünewald participated in the distinguished Internship Program of the International Monetary Fund and was a trainee in the Financial Law Division of the European Central Bank. She is also admitted to the Swiss bar.

    Katerina Theodossiou (Senior Crisis Management Expert)
    Katerina Theodossiou is a Senior Crisis Management Expert specializing in bank risk analysis and crisis management (recovery and resolution). After 10 years of professional experience in the financial markets (analysis and asset management, mainly in fixed income markets), Katerina took a deep dive on crisis management and bank resolutions topics. During the massive consolidation of the Greek banking industry (2010 – 2018), Katerina participated in several crisis management groups and bank resolutions as a financial stability or resolution expert and at the same time followed closely the efforts of the Greek banking system to restructure and recover under the State Aid framework. At the same time, she participated in drafting teams of the BRR Directive and SRM regulation. In 2017, she was appointed as a senior bank recovery and resolution expert at the Policy & Strategy Directorate of the Single Resolution Board (SRB) where was heavily involved in the operationalization of resolution strategies and was entrusted the position of sub-coordinator in the SRB Crisis Readiness Project. In parallel, she was responsible for the Agency’s training strategy conducting resolution related training sessions and crisis simulation exercises (i.e. Dryruns). At present, Katerina works as a risk analysis and crisis management senior manager in a national Central Bank and provides crisis management and bank recovery and resolution related training. Katerina started her academic studies in International & European Economic Studies in Athens, and continued with a post graduate degree in Finance (MSc) in Cass-Business School, London. In 2016 she co-drafted a report on «Bank resolution and bail- in in the EU: selected case studies pre and post BRRD» published by FinSAC, World Bank.

    Emiliano Tornese (European Commission / European University Institute – Florence School of Banking and Finance)
    Emiliano Tornese is Deputy Head of the Resolution and Crisis Management Unit in the European Commission’s DG for Financial Stability, Financial Services and Capital Markets Union. In that capacity, he is involved in the negotiations on the completion of the Banking Union, EDIS and ESM backstop. He has been involved with the preparation and negotiation of the BRRD and TLAC implementation, and with the preparation, negotiation and launch of the Single Resolution Mechanism. Emiliano Tornese is also part-time Professor at the Florence School of Banking and Finance, based at the European University Institute. Previously, he worked for the European Commission’s Securities Markets Unit and, during his tenure, was responsible for the establishment of the European Securities and Markets Authority and for matters related to its Corporate Finance Standing Committee. As Secretary of the European Securities Committee, he coordinated the European Union’s Ministries of Finance in their regulatory capacity for financial services. He drafted and negotiated the review of the primary and secondary markets regulation and the regulation of benchmarks. And he advised the European Financial Stability Facility on the primary markets regulation.

    Tobias Tröger (Goethe University, Frankfurt)
    Tobias Tröger holds since 2011 the Chair of Private Law, Trade and Business Law, Jurisprudence at Goethe-University Frankfurt am Main. He is Program Director Corporate Finance at the Research Center Sustainable Architecture for Finance in Europe (SAFE) in Frankfurt and Chairman of the Board of the European Banking Institute (EBI). His research interests include contract law and contract theory, corporate law (particularly, comparative corporate governance and corporate finance), banking law and the economic analysis of law. He holds a Ph.D.-degree from the Eberhard Karls University of Tübingen and an LL.M. from Harvard Law School. Throughout his academic career, he received various scholarships and awards, among others the Award of the Reinhold and Maria Teufel- Foundation for his Ph.D.-Thesis, and the Irving Oberman Memorial Award from Harvard Law School. He is an advisor to the European Parliament on matters regarding the Single Supervisory Mechanism (SSM).


    FBF Team

    Maria Ana Barata (Academy Coordinator)

    Thorsten Beck (FBF Director, Academy Instructor)

    Jan Trevisan (Course Designer)

  • Modules

    Module 1: Background and Fundamentals of Bank Resolution

    Module 2: The resolution process and valuation exercises

    Module 3: Recovery and Resolution Planning

    Module 4: Navigating through MREL and TLAC rules

    Module 5: The Funding of Bank Resolution

    Module 6: The role of State Aid and of DGS in resolution

    Module 7: Revisiting the EU crisis management and deposit protection EU framework against the background of the US experience

    Module 8: Resolution of cross-border banks

    Module 9: Walking through a resolution case and putting all the elements together

  • Live Classes

    All times are in CET

    Kick-off session (optional): Mon 17 January, 2.00-3.00 PM

    1st Live Class (MREL): Tue 25 January, 1.00-3.00 PM

    2nd Live Class (State Aid and DGS): Tue 1 February, 1.00-3.00 PM

    3rd Live Class (Funding resolution and/or liquidation): Mon 7 February, 1.00-3.00 PM

    4th Live Class (Resolution in practice) + wrap-up of the course: Thursday 10 February, 12.00-3.00 PM

  • Fees

    The Academy takes place from 17 January to 11 February 2022.

    Early bird fee applies until 20 December 2021

    • Early bird: € 1080 (Standard fee: € 1200) – Private Sector 
    • Early bird: € 990 (Standard fee: € 1100) – Public Authorities (e.g. National Competent Authorities, Central Banks) and European Institutions
    • € 850 (no early bird) – Full-Time Professors, PhD Students, Research Associates

    Please submit a certificate attesting your status of Professor, PhD Student or Research Associate to fbf@eui.eu before registering. FBF secretariat will provide you with a code to register. *Seats for academics are limited.

    Please note that the payment must be settled one week before the start of the course.

    A certificate of attendance will be provided to all participants after the course.

    CANCELLATION POLICY

    • In case you can no longer attend the course, you are required to inform the organisers by sending an email to fbf@eui.eu in order to free a seat for participants in the waiting list.
    • In case of frequent cancellations, FBF reserves the right not to accept further registrations from the same person.

    For more details, please contact fbf@eui.eu