Course Instructors: Slavka Eley, Oleg Shmeljov (European Banking Authority)
Area: Bank Regulation, Supervision and Resolution
Level: Intermediate

This course will focus on the following topics:

• Business model Analysis;
• Internal governance;
• Assessing risks to capital;
• Liquidity and funding;
• SREP capital adequacy assessment;
• SREP liquidity adequacy assessment;
• Supervisory and early intervention measures

This course is targeted at SSM, SRB, ESRB, EU officials, economists and risk managers in financial institutions and private banks, lawyers and accountants, Ph.D. students, post-graduate researchers, assistant professors.

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Course Instructor: Moritz Schularick (University of Bonn)
Area: Financial Stability and Macroprudential policy
Level: Intermediate

This course will focus on the following topics:

• Financial cycles and the economy;
• Interest rates and returns on capital;
• Financial crisis prediction: tools and accuracy;
• Bank capital and financial stability;
• Debt overhang and recovery from crises;
• Managing credit booms: macroprudential vs. monetary policy

This course is targeted at EBA, SSM, SRB, ESRB, EU officials, financial stability and research department of Central Banks, Ph.D. students, post-doc researchers; assistant professors; private sector economists.

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Course Instructor: Lee C. Buchheit (Cleary Gottlieb Steen & Hamilton LLP); Mitu Gulati (Duke University); Jeromin Zettelmeyer (Peterson Institute of International Economics)
Area: Risk Management
Level: Intermediate

This course will focus on the following topics:

• Sovereign default and restructuring risk;
• How do sovereign borrowers get into trouble?
• The warning signs of sovereign distress.
• Initial maneuvers to escape and evade the crisis.
• The options when the initial maneuvers don’t work — bailout or restructure
• The evolution of sovereign debt restructuring techniques — 1982 to 2017
• The role of the official sector
• Contractual provisions that facilitate, or that retard, sovereign debt workouts
• Sovereign debt restructuring after Greece and Argentina

This course is targeted at EBA, SSM, SRB, ESRB, EU officials, financial stability and legal department experts in Central Banks, Ph.D. students, private sector members, law firms and practitioners.

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Since 2011, the EUI-nomics workshops provide an annual forum for discussion among academics, policy-makers and private sector economists. Current and expected global economic perspectives and conditions are reviewed and discussed, with a special focus put on the euro area and its Member States.

Leading economists will provide comprehensive briefings about each country or area’s economic outlook. The 2018 EUI-nomics workshop will be completed by a policy panel debating the extent of the remaining heterogeneity in the euro area and its implications for policy-making and market performance.

The event is organised by Prof. Massimiliano Marcellino in the framework of Pierre Werner Chair and Global Governance programme.

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Course Instructors: Emiliano Sabatini, Antonio Schifino (Bank of Italy)
Area: Bank Regulation, Supervision and Resolution
Level: Introductory/Intermediate

This course will focus on the following topics:

• An overview of the solvency ratio: regulatory capital and Pillar I risks.
• The main answers of micro-prudential regulators to the crisis.
• The backstop measures.
• Pillar II and its role under the Single Supervisory Mechanism.
• An overview of the main IFRS accounting standards on financial instruments and their implications from a regulatory perspective.
• The main differences between the accounting and the regulatory frameworks with reference to consolidation.

This course is targeted at EBA, SSM, SRB, ESRB, EU officials, lawyers, political scientists, Ph.D. students, accountants, private sector economists.

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Course Instructors: Christian Brownlees (Universitat Pompeu Fabra), Fabio Canova (FBF and BI Norwegian Business School)
Area: Statistical and Econometric Methods
Level: Intermediate/Advanced

This course will focus on the following topics:

• Estimation and forecasting.
• Models of time varying correlations: estimation and forecasting.
• VaR and Systemic risk: measures and forecasting techniques.

This course is targeted at Financial Stability and Research departments in central banks, Ph.D. and Post-doctoral researchers, Assistant Professors, Research department officers of private banks, EU institutions.

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Course Instructor: Jean Dermine (Insead)
Area: Risk Management
Level: Intermediate

This course will focus on the following topics:

• Probability of Default (PD) calibration and validation
• Loss Given Default (LGD) – What do we know about LGDs?
• Discount rate in LGDs.
• Regulatory updates regarding LGDs.
• Value-at-Risk.

This course is targeted at Financial stability and research department of Central Banks, Ph. D. students, private sector economists, EU officials.

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Course Instructors: Bart Joosen (VU University), Stefano Cappiello (FBF), Jean-Jacques Van Helten (Visiting fellow, RSCAS; formerly Bank of Montreal)
Area: Bank Regulation, Supervision and Resolution
Level: Intermediate/Advanced

This course will focus on the following topics:

• Liquidity Coverage Ratio and Net Stable Funding Ratio’s in the European Capital Requirements Regulation framework
• Definition of High Quality Liquid Assets, the changing definition of safe assets and the forthcoming Simple Transparent and Standardised Securitisations
• Stress testing, survival period and measurement of resilience against liquidity shocks
• Internal Liquidity Adequacy Assessment (ILAAP), Risks not included in LCR
• Relationship with recovery and resolution frameworks, importance of liquidity constraints for the definition of “failing or likely to fail”

This course is targeted at EU Officials (ECB, SSM, SRB, ESRB, EBA, ESM), Senior Policy Officers of Prudential Supervisors/National Central Banks, In-house Legal Counsels, External Lawyers, Treasurers with Banks, Senior Legal Officers, Funding Strategists.

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Course Instructors: Senior staff members from the ESRB Secretariat and the ECB
Area: Financial Stability and Macroprudential policy
Level: Introductory/Intermediate

This course will focus on the following topics:

• Macroprudential policy framework, objectives and instruments
• Implementation challenges (e.g. calibration, cross-border effects, leakages, transmission)
• The use of capital-based instruments (e.g. countercyclical capital buffer, structural buffers, risk weights)
• The use of asset-based instruments, in particular for the real estate sector
• The use of liquidity instruments (e.g. liquidity coverage requirements. net stable funding ratio, loan-to-deposit ratio)
• Macroprudential policy beyond banking

This course is targeted at EBA, SSM, SRB, ESRB, EU officials, financial stability and research department of Central Banks, Ph.D. students, post-doc researchers; assistant professors; private sector economists.

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