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Calendar

Jul
24
Fri
Discussing the Greek Debt Crisis @ Online Discussion
Jul 24 @ 2:00 pm – 2:45 pm
Discussing the Greek Debt Crisis @ Online Discussion

Greek Crisis Q&A

The Florence School of Banking and Finance invites you to join us for an online discussion of the Greek Crisis. Professors Evi Pappa (EUI), Christos Hadjiemmanuil (University of Piraeus), Thomas Cooley (NYU Stern) and Ramon Marimon (EUI) will be discussing the economic ramifications of the new bailout deal, before taking questions on the past, present and future of the Monetary Union. 

Register now

Sep
15
Tue
The Rise of a Fiscal Europe? Negotiating Europe’s New Economic Governance.
Sep 15 @ 11:00 am – 12:00 pm

Brigid Laffan (Director, Robert Schuman Centre for Advanced Studies) and Pierre Schlosser (Ph.D. Research at the EUI) have published a new research report entitled The Rise of a Fiscal Europe?  Negotiating Europe’s New Economic Governance.

In the report the authors dissect the key negotiations and decisions made following the Eurozone debt crisis before exploring their long term and profound political implications. The report will be discussed in depth during an Online Seminar.

 

Brigid   

Brigid Laffan (Director, Robert Schuman Centre for Advanced Studies)    

  

 Pierre02

 Pierre Schlosser (Ph.D. Research at the EUI)

   

 

Read the report

Dec
7
Mon
1st Advisory Council meeting @ Sala del Capitolo at Badia Fiesolana
Dec 7 @ 12:00 pm – 5:00 pm
1st Advisory Council meeting @ Sala del Capitolo at Badia Fiesolana | Toscana | Italy

On 7th December the Florence School of Banking & Finance will hold its first Advisory Council meeting.

The Advisory Council of the school is composed of Andrea Enria (Chairperson European Banking Authority), Frank Smets (Advisor Mario Draghi European Central Bank), Ignazio Angeloni (Board Member Single Supervisory Mechanism), Mauro Grande (Board Member Single Resolution Board) and Francesco Mazzaferro (Head of Secretariat European System Risk Board), as well as the new Director General at DG FISMA (EC) Olivier Guersent.

The purpose of the meeting will be to discuss the school’s activities in its first year, as well as to start the development of a European curriculum for professionals working in the Banking & Finance sector on topics of regulation and supervision.

 

This is a closed event.

Dec
11
Fri
Legal and Institutional Dimensions of EMU: Economists and Legal Scholars in Discussion @ Sala Triaria, Villa Schifanoia
Dec 11 all-day
Legal and Institutional Dimensions of EMU: Economists and Legal Scholars in Discussion @ Sala Triaria, Villa Schifanoia | Fiesole | Toscana | Italy

The purpose of this workshop is to begin discussions on four key areas in which actual or proposed changes to EMU can meet with legal and institutional constraints or raise important issues of design and effectiveness. Policy briefs which have been prepared by legal scholars in the project will be discussed in a shared meeting of legal scholars and economists. The discussion aims to deepen understanding as to how an effective and desirable EMU might be achieved and how, if at all, legal and normative difficulties that arise could be resolved.

Organisers: Professor Claire Kilpatrick, Professor Giorgio Monti (Department of Law, European University Institute)

Programme

9.30 – 11.00 Conditions posed to legal change in reaction to the Eurozone crisis at both EU and national level

11.00 – 11.30 Coffee Break

11.30 – 13.00 Exploring the new E in EMU: constraints and effectiveness

13.00 – 14.00 Lunch

14.00 – 15.30 Legal aspects of risk-sharing mechanisms

15.30 – 16.00 Coffee Break

16.00 – 18.00 Legal aspects of banking union | Follow-up discussion

Mar
9
Wed
Capital and Bail in Debt Buffers: Loss Absorption vs Risk Incentives
Mar 9 @ 1:00 pm – 2:00 pm
Capital and Bail in Debt Buffers: Loss Absorption vs Risk Incentives

Webinar #1 with Enrico Perotti

This webinar will offer a critical approach to capital requirements with a particular emphasis put on risk absorption capacity in the context of the new Capital Requirements Directive (CRD4) and the Financial Stability Board’s Total Loss Absorbing Capacity (TLAC) standard. Two alternative views of capital requirements will be lined out: the buffer view and the incentives view. As part of the webinar, the risk absorption potential of equity, bail-in debt and, Contingent Convertible Debt instruments (CoCos) will be explored.

Watch the recording 

Enrico Perotti (Ph.D. MIT) is Professor of International Finance at the University of Amsterdam, Member of the Scientific Committee of the Florence School of Banking and Finance and CEPR).
His advisory work has focused on policy advice on issues of banking, financial reforms and stability to the EC, ECB, IMF, DNB, Bank of England, the World Bank and the UK Treasury.

Mar
16
Wed
Contingent Convertible Debt Instruments (CoCos): regulatory use and market development
Mar 16 @ 1:00 pm – 2:00 pm
Contingent Convertible Debt Instruments (CoCos): regulatory use and market development

Webinar #2 with Enrico Perotti

This webinar will address the new regulatory treatment of Contingent Convertible Debt instruments and the development of the underlying CoCo bond markets. The contractual feature of the existing stock of CoCo debt will be analysed along various dimensions. First, in terms of their regulatory effectiveness in absorbing risk. Second, in terms of their impact on risk incentives and thus on their preventive effect. Third, we will look at the empirical evidence on the market response to their issuance. Finally, time allowing we will discuss the recent evolution on the CoCo bond market in terms of issuances and prices.

 Register here

 

Enrico Perotti (Ph.D. MIT) is Professor of International Finance at the University of Amsterdam, Member of the Scientific Committee of the Florence School of Banking and Finance and CEPR).
His advisory work has focused on policy advice on issues of banking, financial reforms and stability to the EC, ECB, IMF, DNB, Bank of England, the World Bank and the UK Treasury.

May
5
Thu
Stability of the Banking System @ Villa Schifanoia – Sala Europa
May 5 @ 9:00 am – 1:00 pm
Stability of the Banking System @ Villa Schifanoia – Sala Europa | Florence | Tuscany | Italy

As part of this year’s State of the Union conference in Florence, a workshop will discuss the stability of the banking system. The event will be hosted by Professor Richard Portes. He will be joined by the Florence School of Banking and Finance’s director Professor Elena Carletti. The event will conclude with a speech by Ignazio Visco, Governor of the Bank of Italy. 

More information available here

Jul
1
Fri
Online Seminar! After Brexit: what next for the EMU, UK and the EU? @ Online
Jul 1 @ 12:00 pm – 1:00 pm
Online Seminar! After Brexit: what next for the EMU, UK and the EU? @ Online

Europe has grown out of its crises when reason and solidarity have prevailed, but it has also been devastated by its crises when fear and nationalism have taken the lead. Brexit, in the aftermath of the euro crisis, brings this dichotomy back to the foreground. Since 2010 there have been important advances in the development of the Economic and Monetary Union (EMU) and flexible forms of participation have allowed other EU countries, reluctant to join the euro, to share the basic principles that define the EU and have a common presence in the interdependent global world.

Brexit raises 3 crucial questions:

  1. Should the EMU be accelerated to become a centre of gravity within the EU, or slowed down to avoid a centrifugal diaspora? If accelerated, how?
  2. Should an ‘exit’ country be allowed free entry to the single market and other EU public goods without accepting freedom of movement?
  3. Should the EU remain as it is, or increase its capacity to offer common public services (Banking Union, border security, research funding, environment, etc.), or limit its scope of activity to the EU single and integrated market?

Panelists:

Joaquín Almunia (Former vice-president of the European Commission)
Ramon Marimon (European University Institute and UPF – Barcelona GSE; ADEMU)
Gorgio Monti (European University Institute; ADEMU)
Morten Ravn (University College London; ADEMU)

Moderator:
Annika Zorn (European University Institute, Florence School of Banking & Finance)

The event is jointly organised by the Florence School of Banking & Finance, Pierre Werner Chair and ADEMU Project.

Watch the recording

Oct
11
Tue
The European Banking Union and Its Instruments – Experience from the First Years of an Interplay with National Banking Supervision and Resolution @ Sala del Consiglio, Villa Salviati
Oct 11 @ 9:00 am – 7:00 pm

After two years of existence, it is time to focus on what happened in practice for the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM), i.e. in the core of the Banking Union, in Member States and beyond the EU. The workshop gathers as broad a range of perspectives as possible with a variety of countries (ins and outs, including non-participating Member States and third countries, crisis and non-crisis countries), levels (national, supra- and international), and backgrounds (academic and supervisory practice).

A good range of the most important issues will be discussed, namely: to what extent does the regulatory framework under the Single Rulebook assist or hinder centralized decision-making? Have the Joint Supervisory Teams (JST) proven to be a tool to have both a sufficiently high information basis on the local level of the banks supervised and robust enough a membership to avoid capture? Has the split of supervisory competences in the SSM created problems or can it be seen as a sensible scheme?

But also, if the purpose of the SRM, as part of the Banking Union project, is to centralize resolution decision-making, to what extent does discretion remain within the national authorities? To what extent should all classes of retail financial services be exempted from bail-in? To what extent does Minimum Requirement for own funds and Eligible Liabilities (MREL) under the BRRD framework and the Total Loss Absorbing Capacity (TLAC) standard developed by the Financial Stability Board (FSB) give raise to a one size fits all approach to resolution?