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Qualitative

The Academy will be offered in a online format. Application is already open. More information will be available soon.

 

  • General description

    This FBF Bank Resolution Academy will foster a deep and comprehensive understanding of the bank resolution rules and procedures among public authorities, practitioners and academics. The course is designed to provide participants with the opportunity to sharpen their knowledge on bank resolution, and to put in practice many of its preparatory elements via ‘learning by doing’.

    On top of providing an overview on the EU regulatory framework, including the revised BRRD and the SRMR, on the resolution objectives and principles and on the resolution process, the Academy’s instructors will seize this occasion to take a deep dive into recovery and resolution planning. The course includes multiple occasions for participants to work in groups in more technical aspects such as MREL/TLAC and valuation scenarios, but also in broader terms with a simulation exercise of a resolution process of a small and a large bank.

    Particular emphasis is also put on the sources of resolution financing, including access to external public sources and the direct link between resolution and state aid. Finally, this FBF Bank Resolution Academy will also foster a dialogue on the future challenges for the EU resolution framework and touch upon the several topics of what we term the ‘unfinished agenda’.

  • Topics covered

    • The EU regulatory framework: BRRD and SRMR
    • Recovery and resolution planning
    • MREL and TLAC
    • Valuation in Resolution
    • Financing resolution and access to external public sources
    • Precautionary recapitalization, state aid and the use of Single Resolution Fund
    • Future challenges to the EU regulatory framework

  • Meet the instructors

    Course 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.

    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).

    Instructors
    Anna Gardella (European Banking Authority)
    Anna Gardella is a Senior Expert at the European Banking Authority. She is project manager on a wide range of regulatory issues, with special expertise in resolution matters and market access, and is responsible for the drafting of RTS, ITS and Guidelines. One of her last projects is the EBA Valuation Handbook for purposes of resolution. She has been a member of the FSB Work Streams on cross-border resolution, on bail-in execution and on IBOR reform. She represents the EBA in a wide range of matters, including in resolution colleges and Crisis Management Groups of G-SIBs, in mediation cases settling disagreements between resolution authorities, as well as between supervisory authorities. She was a member of the EBA Crisis management team during the 2015 Greek crisis where capital controls were imposed.

    Katerina Theodossiou (Bank of Greece)
    Katerina Theodossiou is an experienced senior finance professional 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.
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    Course advisor
    Maria Ana Barata (European University Institute – Florence School of Banking and Finance)

  • Prerequisites

    • Degree required to be able to follow the course
      A Bachelor degree in a relevant discipline.
    • Prior knowledge required to be able to follow the course
      Participants should have a prior knowledge and understanding of international and EU financial regulation. Prior exposure to banking law and practice is recommended.
    • Technical equipment required (i.e. laptop and software)
      Participants are kindly invited to bring their own laptops.

  • Fees

    1200€ – Private Sector

    1100€ – Public Authorities (e.g. National Competent Authorities, Central Banks) and European Institutions

    850€ – Academics (Assistant, Associate or Full Professors) *seats for academics are limited

    CANCELLATION POLICY

    • In case a course is cancelled, registered participants will receive the full refund.
    • In case a course is moved to another date, registered participants have the following three options: request a voucher to attend another FBF course, transfer their registration to a colleague or request a refund.
    • Registered participants who have not yet paid the registration fee can cancel their participation until four weeks before the start of the course.

    For more details, please contact fbf@eui.eu