Calendar

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.

Course dates: 04 – 19 March 2021
Course Director: Christian Brownlees (Universitat Pompeu Fabra), Iman van Lelyveld (VU Amsterdam and DNB)
Guest Contributors: Adrien Amzallag (European Securities and Markets Authority), Marco d’Errico (European Systemic Risk Board)
Teaching Associate: Natalie Kessler (European University Institute)
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.

Course dates: 05 – 26 March 2021
Course Director: Jeffrey Wooldridge (Michigan State University)
Area: Statistical and Econometric Methods
Level: Advanced
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.
The low interest rates environment is commonly accepted to be with us for long. Secular trends beyond monetary policy – in growth, productivity, demographics, technological disruptions among others – are driving the level of rates. Those broader parameters must be internalised in banking operations. Low interest rates trigger adjustments in bank business models to new risks. With admittedly decreasing net interest margins, bank boards have to re-examine the profitability of various segments in their bank business model, including a better understanding of the cost structure and risks associated with the low rates’ environment. Different aspects include: interest-generating activities (and potential negative rates), fee-related and trading activities, and the funding structure (market-based vs retail funding).
This online debate will ask:
- What are the effects of low interest rates on bank profitability and risk appetite?
- What are the main drivers of the current low-for-long interest rates that bank board members should pay attention to?
- How should bank boards adapt the bank’s strategy and business model to a low interest rates’ environment?
- Are there key measures in the short to medium-term to better cope with the low interest rates’ environment and mitigate the depletion of net-interest margins?
- What is the role of independent board members in accompanying the development of such strategy within their bank’s board?
Chair
Thorsten Beck (The Business School (formerly Cass) and Florence School of Banking and Finance, European University Institute)
Thorsten Beck is currently professor of banking and finance at The Business School (formerly Cass) in London. He is also a research fellow of the Centre for Economic Policy Research (CEPR) and the CESifo. He was professor of economics from 2008 to 2014 at Tilburg University and the founding chair of the European Banking Center there from 2008 to 2013. Previously he worked many years in the research department of the World Bank and has also worked as consultant for – among others – the European Central Bank, the Bank of England, the BIS, the IMF, the European Commission, and the German Development Corporation. He is also a member of the Advisory Scientific Council of the European Systemic Risk Board (ESRB) and is co-editor of the Journal of Banking and Finance. His research, academic publications and operational work have focused on two major questions: What is the relationship between finance and economic development? What policies are needed to build a sound and effective financial system? Recently, he has concentrated on access to financial services, including SME finance, as well as on the design of regulatory and bank resolution frameworks. In addition to numerous academic publications in leading economics and finance journals, he has co-authored several policy reports on access to finance, financial systems in Africa and cross-border banking. His country experience, both in operational and research work, includes Albania, Bangladesh, Bolivia, Brazil, China, Colombia, Egypt, Malaysia, Mexico, Peru, Russia and several countries in Sub-Saharan Africa. In addition to presentation at numerous academic conferences, including several keynote addresses, he is invited regularly to policy panels across Europe. He holds a PhD from the University of Virginia and an MA from the University of Tübingen in Germany.
Speakers
Vítor Constâncio (Lisbon School of Economics and Management, Former Vice President European Central Bank)
Vítor Constâncio was Vice-President of the European Central Bank from 1 June 2010 to May 2018. In the Portuguese Government, he was Secretary of State for the Budget and Planning in 1974-76 and Finance Minister in 1977-78. At the central bank of Portugal, he was Director of the Economics Department, Deputy Governor and then from 2000 to 2010, Governor of the Banco de Portugal and consequently, member of the European Central Bank Governing Council. He was Assistant Professor at the Lisbon School of Economics and Management (ISEG), University of Lisbon, from 1968 to 1973 and later, coordinator Professor of the Master´s degree on Monetary Policy from 1989 to June 2010. He is now President of the School Board at ISEG and Professor at the Master’s Degree in Banking and Financial Regulation at the School of Economics, University of Navarra, Madrid.
Julie Galbo (Board Member, DNB Bank ASA)
Julie currently serves on the board of DNB Bank ASA and is an observer in the risk and audit committees. She also serves as chairman of the board of Trifork AG and Fundamental Fondsmæglerselskab A/S.
Formerly, Julie was part of Group Executive Management in Nordea Bank Abp, where she held the positions as Group Chief Risk Officer and Head of Business Risk. Prior to joining executive management, Julie led the mergers of the 4 Nordic Nordea banks and the subsequent redomiciliation to Finland (the Eurozone).
During the financial crisis, Julie held the position of Deputy Director General of the Danish Financial Supervisory Authority, contributing to bank resolution and supervision of banks, markets and conduct as well as being Chief Legal Counsel. She was also head of state capital injections during the crisis.
Thomas Vlassopoulos (Head of Monetary Analysis Division, European Central Bank)
Thomas Vlassopoulos is Head of the Monetary Analysis Division in the Directorate General Monetary Policy of the ECB. In this role, together with his team, he is responsible for analysing monetary policy transmission through financial intermediaries and contributes to the design and assessment of monetary policy measures. Thomas joined the ECB in 2007 and has served in policy and analysis-oriented roles spanning both monetary and macroprudential policy. He started his career at Eurobank, a universal bank in Greece, followed by three years with the Economic Research Department at the Bank of Greece. He holds an M.Sc. in Economics from the London School of Economics.
This fifth 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 boards’ functioning and learning how to challenge bank management effectively. Seminar speakers 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.

FBF Bank Board Academy Brochure
the details and fees of
FBF Bank Board Academy
for Non-Executive Directors!
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Watch the event
Presentation by Helmut Kraemer-Eis
Presentation by Sophie Manigart
Private capital is back in the game. Still a niche a few years ago, private markets in general and private equity in particular – are increasingly becoming key solutions to financing SMEs across almost all sectors. In spite of COVID, Private Equity’s committed but unallocated capital– so-called ‘dry powder’ – remains high in 2021 and there is mention in the marketplace of a ‘new decade for private markets’ (McKinsey, 2020). Yet geographical differences persist: PE remains much more developed in the United States than in Europe.
Against this background, this online debate will discuss the following questions:
- What is the current market sentiment in private equity in Europe?
- How solid are the funding models of private equity firms and to what extent do they rely on private credit, preferred equity and net asset value (NAV) financing in COVID times?
- Would a too swift ramp up of private equity in Europe bear financial stability implications?
- Is the current European regulatory and supervisory framework for PE fit for purpose?
Chair and Moderator
Thorsten Beck (The Business School (formerly Cass) and Florence School of Banking and Finance, European University Institute)
Thorsten Beck is currently professor of banking and finance at The Business School (formerly Cass) in London. He is also a research fellow of the Centre for Economic Policy Research (CEPR) and the CESifo. He was professor of economics from 2008 to 2014 at Tilburg University and the founding chair of the European Banking Center there from 2008 to 2013. Previously he worked many years in the research department of the World Bank and has also worked as consultant for – among others – the European Central Bank, the Bank of England, the BIS, the IMF, the European Commission, and the German Development Corporation. He is also a member of the Advisory Scientific Council of the European Systemic Risk Board (ESRB) and is co-editor of the Journal of Banking and Finance. His research, academic publications and operational work have focused on two major questions: What is the relationship between finance and economic development? What policies are needed to build a sound and effective financial system? Recently, he has concentrated on access to financial services, including SME finance, as well as on the design of regulatory and bank resolution frameworks. In addition to numerous academic publications in leading economics and finance journals, he has co-authored several policy reports on access to finance, financial systems in Africa and cross-border banking. His country experience, both in operational and research work, includes Albania, Bangladesh, Bolivia, Brazil, China, Colombia, Egypt, Malaysia, Mexico, Peru, Russia and several countries in Sub-Saharan Africa. In addition to presentation at numerous academic conferences, including several keynote addresses, he is invited regularly to policy panels across Europe. He holds a PhD from the University of Virginia and an MA from the University of Tübingen in Germany.
Speakers
Helmut Kraemer-Eis (Chief Economist, European Investment Fund)
Sophie Manigart (Professor and Faculty Dean, Vlerick Business School)


Course dates: 7 – 29 April 2021
Academy Directors: Seraina Grünewald (Radboud University Nijmegen); Katerina Theodossiou (Senior Crisis Management Expert); Emiliano Tornese (European Commission); Tobias Tröger (Goethe University, Frankfurt)
Instructors: Colm Brady, Paul Disveld (ECB Banking Supervision); Pamela J. Farwig, Arthur J. Murton (Federal Deposit Insurance Corporation), Andrew Gracie (Deloitte), Bart P.M. Joosen (VU University Amsterdam and Recofise), Eva Hüpkes (Head Regulatory and Supervisory Policies at Secretariat of the Financial Stability Board), Anna Gardella, Lidja Schiavo (European Banking Authority)
FBF Team:
Academy Coordinator:
Maria Ana Barata (Teaching Associate, Florence School of Banking and Finance)
Academy advisors:
Thorsten Beck (Director of the Florence School of Banking and Finance and Professor at Business School (formerly Cass))
Pierre Schlosser (Scientific Coordinator, Florence School of Banking and Finance)
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.
THIS SEMINAR IS PART OF THE FBF BANK BOARD ACADEMY FOR NON-EXECUTIVE DIRECTORS
Watch the streaming of the event
Consolidation has often been described as critical instrument to address the woes of Europe’s banking sector. Consolidation may entail diverse benefits for banks’ profitability, address overcapacity, foster private risk-sharing. However, the effects of consolidation on banks’ sound risk management and its broader impact on the stability of the financial system are uncertain.
Some guidance and supervisory expectations have been developed in European prudential supervision (e.g. setting of capital requirements, the treatment of badwill, and the use of internal models by the newly consolidated entities). In this regard, the role of bank board members is key in understanding and addressing both opportunities and challenges raised by consolidation projects placed under their scrutiny.
This online debate will ask:
- What are the opportunities and risks in the consolidation of the European banking sector?
- How can consolidation contribute to the key objectives of the Banking Union?
- Is consolidation the solution to address some of the core challenges faced by banks and their boards, i.e. low profitability and non-performing assets?
- What are the main elements that bank board members should pay attention to when preparing for consolidation?
- What are the factors of success for a consolidation through a merger and acquisition operation (including cross-border M&A)?
- What is the role of independent board members in ensuring sustainable consolidation projects?
Chair
Elena Carletti (Bocconi University)
Elena Carletti is Professor of Finance at Bocconi University. She is also founding director of the Florence School of Banking and Finance Florence School of Banking and Finance at the European University Institute, is a member of Board of Directors of Unicredit SpA and a member of the Advisory Scientific Committee of the European Systemic Risk Board (ESRB). Furthermore, she is research professor at the Bundesbank, a member of the Expert Panel on banking supervision for the European Parliament, a member of the Scientific Committee “Paolo Baffi Lecture” at the Bank of Italy, a member of Bruegel Scientific Committee, Research Fellow at CEPR, Fellow of the Finance Theory Group, CESifo, IGIER, and Wharton Financial Institutions Center. She is the author of numerous articles on Financial Intermediation, Financial Crises and Regulation, Competition Policy, Corporate Governance and Sovereign Debt.
Speakers
Andreas Dombret (Columbia University, former Member of the Board of Deutsche Bundesbank)
Andreas Dombret is currently Global Senior Advisor to companies like Oliver Wyman, Sumitomo Bank, Houlihan Lokey, Autonomous, Deposit Solutions and Banco Santander. Prior to that, he has been Board Member of the Deutsche Bundesbank from 2010 to 2018, Supervisory Board Member of the European Central Bank from 2014 to 2018 and Member of the Board of Directors at the Bank for International Settlements from 2012 to 2018.
Dominique Laboureix (French Prudential Supervisory Authority – Autorité de Contrôle Prudentiel et de Résolution – ACPR)
Dominique Laboureix holds the position of Secretary General of the French Prudential Supervisory Authority (Autorité de Contrôle Prudentiel et de Résolution – ACPR), to which he was appointed in October 2019.
ACPR is the administrative authority chaired by the Governor of Banque de France that supervises the banking and insurance sectors and ensures financial stability, in close collaboration with the European Central Bank. It also has resolution powers on both sectors. Moreover, ACPR is responsible for protecting the customers of the supervised institutions and ensuring fight against money laundering and terrorism financing.
Dominique Laboureix is member of the Basel Committee for Banking Supervision (BCBS), member of the European Banking Authority (EBA) and alternate member of the Supervisory Board of the Single Supervisory Mechanism. Since June 2020, he co-chairs the BCBS Task Force on Evaluation.
Between 2015 and 2019, he was among the founding members of the Single Resolution Board, the Brussels authority in charge of resolving banks in the Banking Union. Notably, he was responsible for resolution planning and preparation of decisions for banking groups from six European countries. He chaired the EBA Resolution Committee between 2015 and 2019 and was involved in a number of European and international fora.
From 2013 to 2014, he was Deputy Director-General in charge of creating the Directorate of Resolution within ACPR and was notably responsible for building the first resolution plans of French banking institutions. He was involved in several international committees, in particular, within the Financial Stability Board.
From 2011 to 2013, he was Director of the Banque de France Finance and Management Control Directorate.
Between 2007 and 2011, he was Director of the ACPR Research and Policy Directorate, benefiting from an over 10 year experience of banking supervision with the Off-Site Directorate of the prudential authority.
He started his career within Banque de France in the department in charge of payment systems and market infrastructures.
Dominique Laboureix is a graduate of the Institut d’Études Politiques de Paris and has a master degree in business law from Paris II University
Luigi de Vecchi (Chairman EMEA Banking – Capital Markets & Advisory Citi)
Luigi de Vecchi, currently Chairman of Europe, Middle East and Africa of Banking, Capital Markets & Advisory.
Prior to joining Citi, he was Co- Head of Global Investment Banking at Credit Suisse Professor of Finance and member of the Advisory Board of the LUISS University in Rome.
He is also Chairman of Fondazione Sylva involved with reforestation and a member of the Board of Director of Save the Children Italy and of Fondazione Nuovo Millennio – Scuola Politica “Vivere nella Comunità”.
This sixth 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 boards’ functioning and learning how to challenge bank management effectively. Seminar speakers 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.

FBF Bank Board Academy Brochure
the details and fees of
FBF Bank Board Academy
for Non-Executive Directors!
Send download link to:
MAKING FINANCE WORK FOR CITIZENS
Lecture by Mairead McGuinness, EU Commissioner for Financial Services, Financial Stability and Capital Markets Union.
20 April 2021 – 13:00 CEST
FBF Annual Lecture
WOMEN IN FINANCE SERIES
Commissioner McGuiness will offer a keynote address on the occasion of the FBF Annual Lecture. This lecture represents the kick-off event of a new lecture series “Women in Finance” which aims to highlight successful women across different areas of finance, public service, academia, and private sector.
“For many, the financial world feels distant and complex. As Commissioner, I want to help bridge the gap between citizens and the financial institutions that serve them. At an individual level, boosting financial literacy can help give people the knowledge they need to make sound financial decisions. That needs to be complemented by our other policies, including consumer protection. More broadly, financial regulation should keep people in mind. Developing the Capital Markets Union would allow investments and savings to flow across the EU. Our upcoming retail investment strategy will help retail investors participate in capital markets. We need to keep up with technology, putting the right regulation in place to ensure people can benefit from the latest innovations safely – including encouraging the development of innovation in retail payments. Financial markets should be a force for positive social change, particularly with regard to the environment.”
Mairead McGuinness, European Commissioner for Financial Services, Financial Stability and Capital Markets Union.
Speaker

Register here
Online lecture
The Florence School of Banking and Finance and the European Governance and Politics Programme at European University Institute are happy to invite you to the:
Coordinating Euro area fiscal policy to drive an inclusive recovery
with Paschal Donohoe, Irish Minister of Finance and President of the Eurogroup
Programme
11.00 – 11.03
Welcome
Renaud Dehousse | EUI President
11.03 – 11.10
Introduction by online lecture chair and moderator
Brigid Laffan | Director Robert Schuman Centre
11.10 – 11.25
Speech “Coordinating Euro area fiscal policy to drive an inclusive recovery”
Paschal Donohoe | Irish Minister of Finance and President of the Eurogroup
11.25 – 11.40
Commentators:
Pierre Schlosser | Scientific Coordinator, Florence School of Banking and Finance
11.40 – 12.10
Questions and Answers session
12.10 – 12.15
Concluding remarks and future challenges
Thorsten Beck | Director Florence School of Banking and Finance

Co-organized with Oliver Wyman, in scientific cooperation with the EUI’s School of Transnational Governance
Academy dates: 30 April – 21 May 2021
Academy directors: Andrea Federico (Oliver Wyman); Pierre Schlosser (European University Institute, Florence School of Banking and Finance)
Core Faculty: Jan Cornillie, Jos Delbeke (European University Institute-School of Transnational Governance); Paul Fisher (Oliver Wyman and Cambridge Institute for Sustainability Leadership, Cambridge University); Ilya Khaykin, Cornelia Neumann, Alban Pyanet (Oliver Wyman); Anne Platou (DNB Bank ASA); Bas Van Ruijven (International Institute for Applied Systems Analysis, IIASA); Peter Vis (Rud Pedersen Public Affairs & European University Institute-School of Transnational Governance)
Guest contributors:
Adrien Amzallag, Julien Mazzacurati (European Securities and Markets Authority); Beverley Adams (Marsh Risk Consulting)
David Carlin (United Nations Environment Programme Finance Alternative); Reby Gulcan(Global Infrastructure Partners); Paul Hiebert (European Central Bank); Angel Monzon, Raffaele Passaro, Hanno Stremmel (European Banking Authority)
Teaching Associates: Maria Ana Barata, Christy Ann Petit (European University Institute, Florence School of Banking and Finance)
Area: Risk Management
Level: Introductory / Intermediate
Target: International micro-prudential and macro-prudential authorities, EU officials, EBA, ESRB, SRB, National Supervisory Authorities, Financial stability and research departments of Central Banks, staff members of Financial Institutions, Lawyers, Ph.D. and Post-doctoral researchers.