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Nov
25
Wed
Online debate: Securitisation in Europe – which way forward? @ Online
Nov 25 @ 1:00 pm – 2:00 pm


Donwload Online Seminar Highlights

Presentation by Pablo Portugal

Presentation by Bertrand Chavasse


In order to help the recovery from the COVID-19 pandemic, the European Commission proposed urgent amendments to the securitisation regulatory framework ahead of the review initially planned for 2022 with a view to supporting banks maintain their capacity to finance the real economy. In particular, a specific STS (‘Simple, Transparent, Standard) framework for on-balance-sheet synthetic securitisation features among the changes under discussion by co-legislators. The threefold dimension of STS securitisation, supposed to encourage the development of the securities market while allowing for a more risk-sensitive capital treatment, and soon to be extended to synthetic securitisation, has yet to deliver its full potential. As of now, transaction numbers remain rather low although one can observe a slight increase of notifications of STS securitisations to the European Securities and Markets Authorities (ESMA) over the last months (from 184 in March 2020 to 396 early November). In this context this online debate will:
  • Ask whether current regulatory requirements are a barrier or an incentive for market actors;
  • Discuss how to favour securitisations development and ultimately reach a single market for securitisations in Europe;
  • Explore the nature of the key underlying exposures in the STS securities market;
  • Reflect on the usefulness of the current regime for securitising both SME loans and Non-Performing Loans;
  • Review the implications of COVID-19 on securitisation in light of the new legislative proposals.

Chair and Moderator

Jean-Jacques van Helten (Florence School of Banking and Finance, European University Institute)
Jean-Jacques van Helten is a Visiting Fellow at Robert Schuman Centre for Advanced Studies & the Florence School of Banking and Finance, part of the European University Institute. He is formerly a Managing Director & Chief Risk Officer, EMEA for the Bank of Montreal (BMO) Financial Group and more recently Non-executive member of the Board of BMO Europe. He has worked in a range of senior executive risk and capital markets business roles in major investment banks in Europe, Australia, Asia and the UK where he has been responsible for market, liquidity & operational risks and credit risk analytics. Jean Jacques has also directed Bank recovery and resolution planning, enterprise risk management as well as the implementation of ICAAP and ILAAP and liquidity risk management process and procedures including liquidity stress testing. Jean Jacques completed his undergraduate and Master degrees along with his PhD in economics/economic history at the University of London, studied at the Goethe Universität, Frankfurt and Freie Universität, Berlin and has held academic research positions at La Trobe University and the University of London.


Speakers

Patrizia Canziani, (Structured Finance Professional)
Patrizia Canziani is a finance professional with more than twenty years’ experience in capital markets, credit and structured finance at JPMorgan, Deutsche Bank, Merrill Lynch, Nomura and MUFG. Mrs. Canziani is Non-Executive Director and member of the Risk and related parties committee for listed company Sogefi, a world leader in design and manufacturing of car components. Experienced in sustainability, she holds a certificate in Sustainable Finance from Oxford University, Smith School of Enterprise and the Environment. She is also a financial crime risk consultant and bank monitor. Mrs. Canziani holds a a PhD in Economics from MIT and 14 internationally refereed publications in labour-macroeconomics, pension sustainability and fiscal rules.
Bertrand Chavasse (BNP Paribas)
Bertrand Chavasse is a finance professional with more than twenty years’ experience in risk management, credit and structured finance at BNP Paribas, Natixis and CDC Ixis Capital Market. His main areas of expertise are in the field of banking prudential regulation (Basel II, III and IV) as well as on securitisation, with a particular focus on risk transfer securitisations.




Bart Joosen (VU Amsterdam)
Bart P.M. Joosen is trained as civil law lawyer at Tilburg University, the Netherlands. He obtained his (equivalent to) LL.M degree in 1987. After completion of his academic study he was appointed as lecturer in the law faculty of Tilburg University in 1987. He successfully defended his dissertation on “Transfer of undertakings in bankruptcy” at Tilburg University and was promoted to doctor in law science (PhD) in 1998. He works since 1992 in private practice particularly for financial market clients. His main areas of expertise are in the field of financial services supervision with a focus on micro-prudential supervision of banks (including in-depth Basel II/Basel III and Solvency II knowledge), insurance companies and investment firms and payment services. Besides working in private practice, he is an extraordinary professor Financial Supervision Law at the VU University in Amsterdam.


Pablo Portugal (Association for Financial Markets in Europe – AFME)
Pablo is a Managing Director in AFME’s Advocacy and Public Policy Division. His main focus is analysis and engagement across Europe on financial services policy and regulatory development. Pablo is responsible for AFME’s work on the Capital Markets Union project and advocacy in various debates covering securities markets, as well as leading cross-cutting projects. Prior to joining AFME, he was engaged with the Institute of Chartered Accountants in England and Wales, where he worked on financial reporting, auditing and financial sector issues. His experience includes roles in European organisations and the United Nations. Born in Peru, he holds a BSc Econ (first class) from the University of Wales, Aberystwyth, and a Masters Degree (with distinction) from the London School of Economics. Pablo is a member of the board of the European Capital Markets Institute.


Technical disclaimer

The online seminar will take place on Zoom. Registered participants will receive the credentials to join the event at 10:00 AM (CET) on 25 November 2020. You can access the seminars from personal computers, laptops, tablets and smartphones. 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
27
Fri
Bank resolution in times of COVID-19 @ Online
Nov 27 @ 9:15 am – 12:45 pm

You can follow the live streaming here!


The Single Resolution Board and the Florence School of Banking and Finance (European University Institute) are organising an interdisciplinary Academic Event on ‘Bank resolution in times of COVID-19’. The event will take place on Friday, 27 November 2020 (09.15-12.45) in an online format.

The COVID-19 pandemic is challenging the European Union and the principles and instruments of its recently established Banking Union. Fortunately, great strides have been made towards financial stability in the last 12 years. European policymakers have created and shaped a de facto macroeconomic financial stability objective, in which the resolution pillar plays an important role. Financial stability and bank resolution are currently striding along the road, and their relationship remains debated. Some have argued that bank resolution fosters financial stability, by preventing unexpected and disorderly bank exits from the sector. Others have contended that the potential enforcement of some resolution tools, such as bail-in, may represent a risk for the stability of the system.

During its four years of existence and well before the COVID-19 emergency, some building blocks of the crisis management framework have been challenged. It has been argued that the consistency of the resolution regime with other instruments, such as the European Stability Mechanism facilities, and with national legal orders (e.g. domestic insolvency regimes, safeguard of creditor’s property rights, national central bank resources) could be further improved, also to ensure more legal certainty. The firepower of the Single Resolution Fund depends also on the introduction of the Common Backstop, potentially provided by the European Stability Mechanism.

Will this step contribute to the prevention of financial instability?

Will the design of the resolution framework prevent a second wave of bank bail-out in the European Union in the COVID-19 context?

To what extent can the stability of the European banking sector be maintained while minimising the use of public funds in the banking sector?

Against this background, the aim of the event is to bring together leading scholars and policy-makers in order to discuss economic, financial, legal, political and public policy topics located at the intersection between financial stability and bank resolution and in the context of COVID-19.

We look forward to welcome you online on 27 November 2020!


Download Event Agenda
Register here to attend

Agenda

Friday, 27 November 2020 (09.15-12.45)


09.15 – 09.20 | Welcome and Introduction
Bart P.M. Joosen (Professor of Financial Law, Vrije Universiteit Amsterdam)


09.20 – 10.40 | Session 1
Chaired by Sebastiano Laviola (Board Member and Director of Strategy and Policy Coordination, Single Resolution Board)

09.20 – 10.00 | “A Proposal for a temporarily amended version of Precautionary Recapitalisation under the Single Resolution Mechanism Regulation involving the European Stability Mechanism”
Christos Gortsos (Professor of Public Economic Law, National and Kapodistrian University of Athens), Michele Siri (Professor of Commercial Law, University of Genoa), Marco Bodellini (Associate Lecturer in Banking and Financial Law, Queen Mary University of London)
Discussant: Emiliano Tornese (Deputy Head of the Resolution and Crisis Management Unit in the European Commission, DG FISMA)


10.00 – 10.40 | “Deposit guarantee schemes and bank crisis management: legal challenges arising from the actual EU legal framework”
Irene Mecatti (Adjunct Professor of Business and European Banking Law, University of Siena)
Discussant: Seraina Grünewald (Professor of European and Comparative Financial Law, Radboud University Nijmegen)


10.40 – 10.45 | break


10.45 – 11.15 | Keynote Speech by Jan Reinder De Carpentier (Vice Chair of the Single Resolution Board)
Chaired and Moderated by Elena Carletti (Professor of Finance, Bocconi University)


11.15 – 12.40 | Session 2
Chaired by Tobias Tröger (Professor of Private Law, Commercial and Business Law, and Jurisprudence at the Goethe-University Frankfurt am Main)

11.15 – 11.55 | “Removing the regulatory barriers to cross-border banking. Regulatory initiatives to foster banking integration and financial stability in the Banking Union”
Nikos Maragopoulos (Associate Researcher, European Banking Institute)
Discussant: Nicola Costa (Senior Bank Recovery and Resolution Expert, Single Resolution Board)


11.55 – 12.35 | “Banking System in Time of Covid-19: a reverse Analysis on Loss Absorption Capacity, Lending to the Economy and Market Valuation”
Antonio Dicanio (Seconded National Expert, Single Resolution Board), Giuseppe Montesi (Adjunct Professor, School of Economics and Management, University of Siena)
Discussant: Thorsten Beck (Professor of Banking & Finance, CASS Business School)


12.35 – 12.45 | Concluding Remarks
by Boštjan Jazbec (Board Member and Director of Resolution Planning and Decisions, Single Resolution Board)


Dec
3
Thu
Online Seminar: Bank Boards and Supervisory Expectations @ Online
Dec 3 @ 1:00 pm – 2:00 pm

Register here

Board members have significant responsibilities in their role. Their ability to challenge effectively and constructively the management is essential. Ensuring sound governance is at the core of banking supervision priorities, although it may be an overlooked feature of post-financial crisis regulatory and supervisory reforms.

Bank supervisors constantly scrutinize and assess the adequacy and effectiveness of checks and balances in banks’ internal governance. The latter is a crucial element of the Supervisory Review and Evaluation Process – SREP in ECB Banking Supervision – that covers the board functioning. Recently, the oversight of bank boards on strategic decisions has been deemed insufficient in some risk areas, such as credit risk, capital planning, and conduct risks (exacerbated in the current pandemic crisis) according to recent ECB’s publication.

In this context, this online debate will:

  • Identify current supervisory expectations towards bank boards in ensuring banks’ good governance and resilience, and explore targeted SSM supervisory measures and SREP requirements to strengthen corporate governance;
  • Reflect on the bank boards’ involvement in challenging the bank’s executives;
  • Discuss the segregation of bank board oversight and management;
  • Consider the implications of COVID-19 on supervisory expectations and bank boards.


Speaker

Elizabeth McCaul (Supervisory Board member, European Central Bank)
Elizabeth McCaul is a Member of the Supervisory Board of the European Central Bank. Her areas of interest include supervisory strategy, risk, capital, internal governance, and consistency and quality across the SSM. She focuses on prudential implications in dynamic areas such as financial stability, climate change, FinTech and AML. She joined the NY State Banking Department as First Deputy in 1995 and served as NY Superintendent of Banks from 1997-2003. She was elected Chair of the Conference of State Bank Supervisors, served as a Member of the Federal Financial Institutions Examinations Council, on the Joint Forum for Financial Conglomerates, and as an Instructor for Financial Stability Institute at the BIS. Before joining the ECB, she worked for Promontory Financial Group where she founded the New York office and served as the Partner-in-Charge, as CEO and Chair of Europe, and Global Head of Strategy. For the first decade of her career she was an investment banker at Goldman Sachs.    

Commentator

Lorenzo Bini Smaghi (Chairman, Société Générale)
Lorenzo Bini Smaghi started his career in 1983 as an Economist in the Research Department of the Banca d’Italia. He moved in 1994 to the European Monetary Institute, to head the Policy Division, preparing for the creation of the ECB. In 1998 he was appointed Director General for International Affairs in the Italian Treasury. From June 2005 to December 2011 he was a Member of the Executive Board of the European Central Bank. Over the last 20 years he held the positions of Chairman of Italgas, SNAM and SACE, and member of the Board of Finmeccanica, MTS, the European Investment Bank and Morgan Stanley International. He has been Visiting Scholar at Harvard’s Weatherhead Center for International Affairs and the first Chairman of Fondazione Palazzo Strozzi, a cultural institution in Florence. He has been appointed CEPR Distinguished Fellow, Senior Fellow at LUISS School of European Political Economy in Rome, and President of the Italian Alumni of the University of Chicago. He is a member of the World Economic Forum’s Community of Chairmen, and independent member of the Board of Tages Holding. He holds a Bachelor’s Degree in Economics from the Université Catholique de Louvain (Belgium), a Master’s degree from the University of Southern California and a Ph.D in Economics from the University of Chicago. He is author of several articles and books on international and European monetary and financial issues (available at www.lorenzobinismaghi.com), in particular “Austerity: European Democracies against the Wall” (CEPS, July 2013), “33 false verità sull’Europa” (Il Mulino, April 2014) and “La tentazione di andarsene: fuori dall’Europa c’è un futuro per l’Italia?” (Il Mulino, May 2017).


This online seminar launches the new Challenges for Bank Board Members series, which aims at building a community of professionals from the banking and finance industry interested in deepening their knowledge on bank board’s functioning and learning how to challenge bank management effectively. Seminar speakers will include an international faculty of regulators, supervisors, and academics together with bank and finance professionals.
The Challenges for Bank Board Members series is part of the new FBF Bank Board Academy for Non-Executive Directors.


Technical disclaimer

The online seminar will take place on Zoom. Registered participants will receive the credentials to join the event at 10:00 AM (CET) on 03 December 2020. You can access the seminars from personal computers, laptops, tablets and smartphones. 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.
Dec
17
Thu
Online Seminar: Governance of Controls – Lessons from Wirecard for Banks and Boards @ Online
Dec 17 @ 1:00 pm – 2:00 pm

Register here

Speaker

James Freis (Former CEO, Wirecard)
James H. Freis, Jr. has pursued a career dedicated to promoting the integrity of the global financial markets. From 2014 through 2020 he was Managing Director, Chief Compliance Officer, and Group Anti-Money Laundering Officer for the Deutsche Börse Group in Frankfurt, Germany, responsible for overseeing regulatory requirements and engaging with financial supervisors for Group entities on a global basis for this provider of financial market infrastructures. From 2007 to 2012, Mr. Freis was Director (CEO) of the United States Treasury Department’s Financial Crimes Enforcement Network (FinCEN), the lead U.S. Government official for anti-money laundering and counter-terrorist financing requirements, and head of the country’s financial intelligence unit (FIU). His career as an attorney began at the Federal Reserve Bank of New York, followed by seven years in Basel, Switzerland at the Bank for International Settlements (BIS). Mr Freis is a graduate of Georgetown University, earned his Juris Doctor from Harvard University, and is a Chartered Financial Analyst (CFA) charterholder. Most recently, he was asked to join Wirecard in June 2020 to professionalize the company and oversee its global regulated businesses in a newly created management board role responsible for “Integrity, Legal & Compliance”. Within his first day, he exposed internal fraud, was promoted to CEO, and then initiated a global restructuring.

This second online seminar takes place in the framework of the Challenges for Bank Board Members series, which aims at building a community of professionals from the banking and finance industry interested in deepening their knowledge about bank board’s functioning and learning how to challenge bank management effectively. Seminar speakers will include an international faculty of regulators, supervisors, and academics together with bank and finance professionals. The Challenges for Bank Board Members series is part of the new FBF Bank Board Academy for Non-Executive Directors.

Jan
11
Mon
Securitisation: Regulation and Practice online Academy @ Online
Jan 11 – Feb 7 all-day

Course dates: 11 January – 07 February 2021

Estimated time required from participants: 20 hours

Course Director: Bart Joosen (VU University Amsterdam and Recofise)

Course Instructors: Anna Bak (Association for Financial Markets in Europe – AFME); Patrizia Canziani (Financial Advisor); Jean-Jacques Van Helten (European University Institute, Florence School of Banking and Finance); More senior experts from European institutions and agencies as well as practitioners in the private sector to be announced

The FBF team: Christy Petit (Course advisor); Pierre Schlosser (Course advisor); Jan Trevisan (Course designer);

Area: Regulation, Supervision and Resolution

Level: Introductory/Intermediate

Target: Financial Regulators and Supervisors; Members from Central Banks and Institutions (EU, intergovernmental, national goverments); Academic researchers; Personnel in private banks and law firms.

Information and Registration

Feb
15
Mon
Fintech: Innovation, Finance and Regulation @ Online
Feb 15 – Mar 5 all-day
Qualitative

2nd Edition – Save the Date! More info will be available soon.

Course dates: 15 February – 05 March 2021

Course Director: Philipp Paech (London School of Economics)

Area: Regulation, Supervision and Resolution

Level: Introductory/Intermediate

Target: EU Officials (ECB, SSM, SRB, ESRB, EBA, ESM), National Supervisory Authorities, Economists and Risk Managers in financial institutions and private banks, Lawyers and Accountants, Ph.D. Students, Post-Graduate Researchers, Assistant Professors.

Mar
4
Thu
Network Analysis in Finance and Economics @ Online
Mar 4 – Mar 19 all-day
Quantitative

Save the Date! More info will be available soon.

Course dates: 04 – 19 March 2021

Course Director: Christian Brownlees (Universitat Pompeu Fabra), Iman van Lelyveld (Universiteit Amsterdam and DNB)

Area: Statistical and Econometric Methods

Level: Intermediate

Target: EU Officials (ECB, SSM, SRB, ESRB, EBA, ESM), National Supervisory Authorities, Financial Stability officers, Economics Departments And Forecasting Departments of Central Banks, Ph.D. and Post-doctoral researchers, Research department officers of private banks.

Apr
7
Wed
Bank Resolution Academy
Apr 7 – Apr 29 all-day
Qualitative

Save the Date! More info will be available soon.

Course dates: 7 – 29 April 2021

Area: Regulation, Supervision and Resolution

Level: Intermediate

Target: EU Officials (ECB, SSM, SRB, ESRB, EBA, ESM), National Supervisory Authorities, financial stability and research department of Central Banks, Ph.D. students, financial institutions in the private sector, law firms.

Apr
26
Mon
Managing and Understanding Sovereign Risks @ Format TBC
Apr 26 – Apr 28 all-day

Course dates:26 – 28 April 2021

Venue: Format TBC

Course Instructors: Mitu Gulati (Duke University); Ugo Panizza (Graduate Institute of International and Development Studies); Lee C. Buchheit

Area: Risk Management

Level: Intermediate

Target: EU Officials (ECB, SSM, SRB, ESRB, EBA, ESM), National Supervisory Authorities, financial stability and legal department experts in Central Banks, Ph.D. students, private sector members, law firms and practitioners

More information and registrations
May
25
Tue
Digital Currencies Academy @ Format TBC
May 25 – May 28 all-day
Quantitative

Course dates: 25-28 May 2021

Venue: Format TBC

Course Instructors: Thorsten Koeppl (Queen’s University – Course director); Katrin Assenmacher (ECB); Christian Catalini (Libra, Facebook); James Chapman (Bank of Canada); Anne Choné (ESMA); Daniel Heller (Fnality International); Jean Pierre Landau (Harvard Kennedy School and SciencesPo); Klaus Löber (ECB); Cyril Monnet (University of Bern); Elisabeth Noble (European Banking Authority); Senior Policy Makers, Academics and Private Sector.

Area: Risk Management

Level: Introductory/Intermediate

Target: EU Officials (ECB, SSM, SRB, ESRB, EBA, ESM), National Supervisory Authorities, Senior Policy Officers of Prudential Supervisors/National Central Banks, Treasurers with Banks, Funding Strategists.

More information and registrations