Calendar
Course dates: 24-26 June 2019
Place: EUI Premises, Florence
Course Instructor: Ralph Koijen (University of Chicago, Booth School of Business)
Area: Financial Stability and Macroprudential policy
Level: Intermediate
Target: EIOPA, SSM, SRB, ESRB, EU officials, financial stability and research department officers in Central Banks, Ph.D. students, post-doc researchers, assistant professors; private sector economists, professionals in the insurance sector
Download the slides of the presentation
The Banking Package adopted in spring 2019 by European co-legislating institutions will enter into force this summer. It represents an important step towards the completion of the European post-crisis regulatory reforms. These reforms implement into European Union (EU) law some outstanding elements which had been previously agreed by the Basel Committee on Banking Supervision (BCBS) and the Financial Stability Board (FSB) and are meant to make the financial system more resilient and stable.
In this online seminar, Marie Donnay (Head of Unit in Resolution and Deposit Insurance in DG FISMA), Tommy De Temmerman (Policy Officer in Bank Regulation and Supervision in DG FISMA) and Audrius Pranckevius (Policy Officer in Resolution and Deposit Insurance) will present and discuss the key changes that were brought about to the EU resolution and prudential frameworks by the new Banking Package. With respect to changes to the resolution framework, a particular focus will be put on the implementation in EU law of the international standard on Total Loss-Absorbing Capacity – also called TLAC – and on the amendments to the existing Minimum Requirement for own funds and Eligible Liabilities – also called MREL.
Speakers
Marie Donnay (Head of Unit in Resolution and Deposit Insurance, DG FISMA, European Commission)
Tommy De Temmerman (Policy Officer in Bank Regulation and Supervision, DG FISMA, European Commission)

Audrius Pranckevicius (Policy Officer in Resolution and Deposit Insurance, DG FISMA, European Commission)

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.

Participation to this event is upon invitation only
This two-days Chatham House executive seminar on the New World of Financial Stability will (1) take stock of the state of the art in the regulation and supervision of banks and other nonbank actors in Europe; (2) assess the market impact of and developments in the Single Market for banking and finance; (3) discuss risks and opportunities stemming from new technologies and business models and (4) critically review current oversight gaps and risks and explore possible remedies.
In line with last year’s approach, this Florence School of Banking and Finance (FBF) executive seminar will look both at banking and non-banking entities.
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.
Scientific organisers:
- Stefano Cappiello (FBF and Italian Treasury)
- Elena Carletti (FBF and Bocconi University)
- Pierre Schlosser (FBF)
- Emiliano Tornese (FBF and European Commission)
- Tobias Troeger (Frankfurt University)
Digitalization has changed everything in our lives: how we communicate, organize, interact, move, and trade. Increasingly, it is also changing how we pay, and potentially how we count, transfer and store value. In short, digitalization is changing money—certainly in its role as a medium of exchange and maybe as a store of value and unit of account as well.
Despite electronic money (e-money) first appeared more than twenty years ago, their exchanges represent today still a small fraction of total financial movements. This is now changing fast, as mobile technology and the internet are joining forces to produce a silent revolution in payments. New forms of money are emerging while digital networks and platforms have the potential to transform and disrupt financial intermediation more broadly.
In this online seminar, Jean-Pierre Landau (Harvard Kennedy School and SciencesPo) will discuss the future of money, in light of these evolutions. His presentation will also examine how digitalization will (1) increase the potential for currency competition (2) change the architecture of domestic and international monetary systems and (3) may affect the respective role of public and private money. Dr. Landau will make a strong case for central banks to consider issuing their own digital currencies (CBDCs) as a way to protect the role of public money in a digitalized environment.
The presentation will be closed by a live Q&A session with the audience.
Speaker
Jean-Pierre Landau (Harvard Kennedy School and SciencesPo)
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.
As is well established, financial institutions can create or amplify systemic risk. In this online seminar, Dimitris Zafeiris (Head of the Risks and Financial Stability Department at the European Insurance and Occupational Pensions Authority – EIOPA) and Francesco Mazzaferro (Head of the Secretariat at the European Systemic Risk Board – ESRB) will guide us through the sources of systemic risk in insurance and will spell out that two types of systemic risk can be distinguished.
The first type of systemic risk is contagion (both direct and indirect). The second type is the systematic withdrawal or failure of insurance services, which could lead to a systemic disruption. Zafeiris and Mazzaferro will thus argue that a macroprudential approach should address systemic risk and supplement the microprudential supervisory framework for insurers (Solvency II).
This online seminar will also highlight that the lack of harmonisation in the field of recovery and resolution of insurers makes cross-border cooperation and coordination more difficult. For the orderly resolution of insurers, a harmonised and comprehensive recovery and resolution framework is essential to better protecting policyholders as well as maintaining financial stability. Finally, Zafeiris and Mazzaferro will argue that European policyholders should be adequately and – to a minimum – evenly protected in the event of insurance failures. This could be achieved by harmonising the national insurance guarantee schemes in the EU.
Speakers
Francesco Mazzaferro (Head of the Secretariat of the European Systemic Risk Board – ESRB)
Dimitris Zafeiris (Head of the Risks and Financial Stability Department, EIOPA)

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.
Technology is the most powerful lever banks have for addressing challenges and delivering future opportunities. Four key emerging technologies have the potential to transform banks and the industry ecosystem. These are data analytics, cloud, artificial intelligence and distributed ledgers.
This presentation outlines the key market challenges that banks are facing; an overview of the emerging technologies that have the potential to transform banks and the industry; the impact this will have on the business model and operating model of banks; the impact on the industry ecosystem including regulators; and key considerations for banks and regulators to prepare for these impacts.
The presentation will be based on the joint AFME-PwC report ‘Technology and Innovation in Europe’s Capital Markets’.
Speakers
Shabdeep Mann
Tom Fish

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.Course dates: 23-25 September 2019
Place: EUI Premises, Florence
Course Instructor: Enrique G. Mendoza (University of Pennsylvania)
Area: Financial Stability and Macroprudential policy
Level: Intermediate/Advanced
Target: Financial stability and research department of Central Banks, Ph.D. students, research department of private banks, EU officials.
Download the slides by Andrew Metrick
What lessons should policymakers learn from our experience in the global financial crisis? In this online seminar, Professor Andrew Metrick (Janet L. Yellen Professor of Finance and Management at the Yale School of Management and the Director of the Yale Program on Financial Stability) will discuss the results so far from a major research project at Yale University to synthesize those lessons and make the results available to future crisis-fighters.
Yale’s “The New Bagehot Project” was launched in 2017 to expand knowledge on the “wartime” policies, designed to fight crises in progress. In fact, during the Global Financial Crisis, nations around the world had attempted hundreds of crisis interventions, only a fraction of which had been studied by researchers. Going back further in time, most research on past crises focused on macroeconomic issues, with much less attention paid to the mechanics of crisis-fighting tools. The project aims to expand the crisis-fighting playbook through detailed case studies of specific interventions, synthesizing these case studies into best practices, and then presenting this synthesis across a variety of media.
The presentation will be followed by a comment by Professor Loriana Pelizzon (SAFE Goethe University Frankfurt and Ca’ Foscari University of Venice) and closed by a Q&A session with the audience.
Speaker
Andrew Metrick
Commentator
Loriana Pelizzon
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.Course dates: 9-11 October 2019
Place: EUI Premises, Florence
Course Instructors:Robert McDonald (Kellogg School of Management, Northwestern University), Fabrizio Planta (European Securities and Markets Authority)
Area: Risk Management
Level: Intermediate
Target: EBA, SSM, SRB, ESRB, EU officials, financial stability and research department of Central Banks, Ph.D. students, private sector economists.
