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Sep
16
Wed
Online debate: Mitigating the impact of COVID-19 on the insurance and occupational pensions sectors in Europe @ Online
Sep 16 @ 1:00 pm – 2:00 pm


The Coronavirus pandemic has wrought havoc on households, businesses and the economy. Like all organisations, insurance companies and pension fund providers had to rapidly adapt and take steps to maintain business continuity and services to customers, whilst also ensuring the safety of employees. Given the scale of the pandemic, supervisors and regulators reacted swiftly to put in place measures to reduce the burden on insurance companies and pension funds so that they could concentrate on their essential operations. Risk-based capital buffers built-up with Solvency II helped insurers to withstand the initial severe market shocks experienced with the Covid-19 crisis. However, a high level of uncertainty on the magnitude of economic disruption and further dissemination of the virus threatening health of European citizens increases downside risks looking ahead. Some six months in to the crisis, there are already some early lessons to draw. From a supervisory perspective, this means reviewing the measures that were put in place and how the regulatory frameworks to set up to ensure the stability of the sectors fared in withstanding the shock. However there are also broader lessons to consider, for example how to close protection gaps and the case for pandemic insurance; what the accelerated take up of digital technology by consumers means for business models and communication; and, most importantly, the role of the insurance and pensions in underpinning Europe’s recovery. The crisis may be far from over, but it is not too early to starting thinking about the post-pandemic world.

Moderator

Elena Carletti (Bocconi University and Florence School of Banking and Finance, European University Institute) Elena Carletti is Professor of Finance at Bocconi University. She is also at the 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.    

Speaker

Gabriel Bernardino , (Chairman of the European Insurance and Occupational Pensions Authority – EIOPA) Gabriel Bernardino is Chairman of the European Insurance and Occupational Pensions Authority (EIOPA). He is responsible for the strategic direction of EIOPA and represents the Authority at the Council of the European Union, the European Commission and the European Parliament. Mr. Bernardino prepares the work of EIOPA’s Board of Supervisors and also chairs the meetings of the Board of Supervisors and the Management Board. Mr. Bernardino is the first Chairperson of EIOPA. He was elected by the Board of Supervisors of EIOPA on 10 January, 2011. His nomination followed a pre-selection of the European Commission and was confirmed by the European Parliament after a public hearing held on 1 February, 2011. Mr. Bernardino assumed his responsibilities on 1 March, 2011 for a first five-year term. On 16 December 2015 the European Parliament confirmed the re-appointment of Mr Bernardino for a second five-year term, which started on 1 March 2016. Prior to his current role, Mr. Bernardino was the Director General of the Directorate for Development and Institutional Relations at the Instituto de Seguros de Portugal (ISP). He has served in several positions of increasing responsibility since he joined the ISP in 1989 and represented EIOPA’s preceding organisation, CEIOPS, as Chairman between October 2009 and December 2010.  

Commentators

Roel Beetsma (University of Amsterdam) Roel Beetsma is the MN Professor of Pension Economics at the University of Amsterdam. He is also Vice-Dean of the Faculty of Economics and Business and Chairman of the Department of Economics and Econometrics. He holds a Ph.D from CentER, Tilburg University. Prior visiting positions include the University of California at Berkeley, the University of British Columbia, and DELTA (Paris). Beetsma is a research fellow of the Centre for Economic Policy Research in London, CESifo in Munich, the Tinbergen Institute and the Network for Quantitative and General Economics. He is also an International Research Fellow of the Kiel Institute of World Economics.    



Giuseppe Corvino (Associate professor of financial markets and institutions, Bocconi University) Mr. Corvino served as Chairman, board member or advisor to global asset managers and investment banks, top tier Italian insurance companies and pension funds, consulting firms, IT companies and family offices. In order to better understand the business model of the modern investment industry, in April 2017 he received a two years academic leave of absence from Bocconi University and served as a full-time Managing Director at BlackRock Investment Management (UK) LTD, becoming a member of the Italian Executive Committee and head of the Financial Institutions Group and the Institutional Client Business for Italy. Throughout his career, Mr. Corvino cooperated with several Regulatory and Market authorities. Inter alia, he has been Member of the EIOPA Occupational Pensions Stakeholder Group, participant in the International Decade for Natural Disaster Reduction of the United Nations project and referee for the ESMA Working Paper Series.    

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 16 September 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.
Sep
18
Fri
Panel Data for Banking Sector Analysts @ Online
Sep 18 – Sep 29 all-day

Course dates: 18-29 September 2020

Place: Online

Course Instructor: 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.

More information
Oct
1
Thu
Online seminar: CCP Recovery and Resolution: insights beyond the end of the waterfall @ Online
Oct 1 @ 1:00 pm – 2:00 pm

Register here
The G20 central clearing obligation for OTC derivative markets has been implemented in the aftermath of the financial crisis to address risk contagion across the financial system. This assumes that central clearing counterparties (CCPs) have the capacity to manage this risk concentration in stressed circumstances. But what if these critical nodes were reaching their own limits? The purpose of this on-line seminar is to provide state-of-the-art insights on the mechanics, tools and policy questions that relate to the recovery and resolution of CCPs. The on-line seminar will focus on the role and importance of CCPs for financial markets by illustrating the type and magnitude of events that could lead to a resolution situation. It will also highlight the continuum between supervision and resolution but also the tension between the respective standards for CCPs and banks. Finally resolution triggers will be presented and the notion of public interest discussed. For each element, a balanced mix of regulatory and industry perspectives will be presented, thereby offering a view on the current debates in this field.

Chair


Thorsten V. Koeppl (Queen’s University)
Thorsten V. Koeppl is a Professor and RBC Fellow in the Department of Economics at Queen’s University. He is currently also the Scholar in Financial Services and Monetary Policy at the CD Howe Institute one of Canada’s most influential policy think tanks. Prof. Koeppl advises the Bank of Canada on Central Bank Digital Currency and in the past has served as an adviser to several other policy institutions in matters of financial market organization, regulation and intervention in the past. Prof. Koeppl has degrees in management and in economics from the Universities of Eichstaett/Ingolstadt and Basle, and received his Ph.D. in economics from the University of Minnesota in 2002. His main research interests are in the areas of macroeconomics (in particular monetary economics), financial market infrastructure and blockchain economics. He has published on these topics in top economics journals such as Review of Economic Studies, Journal of Economic Theory, Review of Financial Studies and the Journal of Financial Economics among several others.

Speakers


Prof. Ron Berndsen (Tilburg University and LCH)
Professor Berndsen is an independent director of LCH and chairs the LCH Risk Committees. He is also attached to the Tilburg School of Economics and Management at Tilburg University as full professor of Financial Market Infrastructures and Systemic Risk. He is also the editor-in-chief of the Journal of Financial Market Infrastructures and a member of the Advisory Council of the SWIFT Institute. He has been active in the field of payments and market infrastructures for over 15 years. Previously, Ron was Head of the Oversight Department and Head of the Market Infrastructures Policy Department at De Nederlandsche Bank. Ron also served as a member on the Market Infrastructure Board at the European Central Bank and as member of the Committee on Payments and Market Infrastructures at the Bank of International Settlements. He also co-chaired the FSB Group on Cross-Border Crisis Management for Financial Market Infrastructures and was a member of the oversight committees of CLS, EuroCCP, Euroclear, LCH, SWIFT and TARGET2. He was awarded a doctorate of Tilburg University in 1992 for his PhD thesis in Economics and Artificial Intelligence.

Dr. Marc Peters (European Commission)
Since April 2016, Marc Peters serves as a Seconded Official in the Resolution and Crisis Management Unit of the European Commission’s DG for Financial Stability, Financial Services and Capital Markets Union. Marc benefits from more than 15 years of experience in the supervision and policy-making area for financial institutions gained at the Belgian Banking, Finance and Insurance Commission and at the National Bank of Belgium. He holds an Executive Master of Finance and a MSc in Management from the Solvay Brussels School of Economics and Management (Université Libre de Bruxelles – ULB). He is a research fellow at the Centre Emile Bernheim, ULB’s research Institute in Management Sciences.  
Oct
12
Mon
Anti-Money Laundering Academy @ Online
Oct 12 – Nov 2 all-day

Course dates: 12 October – 02 November 2020

Place: EUI Premises, Florence

Course Instructors: Anthony Charrie, Dominik Kaefer, Sean Kennedy, Lisa Quest, Daniel Tannebaum (Oliver Wyman); Michael Levi (Cardiff University); Caroline Gadner, Endija Springe (European Banking Authority); Olena Loboiko (DG FISMA); Eleni Tsingou (Copenhagen Business School)

Area: Risk Management

Level: Intermediate

Target: SSM, EBA, SRB, National Supervisory Authorities, Financial institutions professionals, Lawyers, Ph.D. and Post-doctoral researchers.

More information and registrations
Nov
2
Mon
Bank Resolution Academy @ Online
Nov 2 – Nov 20 all-day
Qualitative

Course dates: 02-20 November 2020 TBC

Place: Online

Course Directors: Seraina Grünewald (Radboud University Nijmegen); Emiliano Tornese (European Commission); Tobias Tröger (Goethe University, Frankfurt)

Course Instructors: Anna Gardella (European Banking Authority), Katerina Theodossiou (Bank of Greece), More experts from private and public sector tba.

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.

More information
Monetary Policy Transmission: Banks, Nonbanks, Credit and Prudential Policies @ Online
Nov 2 – Nov 6 all-day

Course dates: 02-06 November 2020

Place: Online

Course Instructors:José-Luis Peydró (Universitat Pompeu Fabra, CREI and Barcelona GSE); Carlo Altavilla (European Central Bank)

Area: Financial Stability and Macroprudential policy

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, research department of private banks

More information and Registration
Nov
25
Wed
Liquidity, Crisis and Public Policies: A Model-Based Approach @ EUI Premises, Florence
Nov 25 – Nov 27 all-day

Course dates: 15-17 April 2020

Place: EUI Premises, Florence

Course Instructors: Nobuhiro Kiyotaki (Princeton University)

Area: Financial Stability and Macroprudential policy

Level: Advanced

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

More information and registrations
Nov
27
Fri
Bank resolution in times of COVID-19 @ Online
Nov 27 all-day

Call for papers closed

Deadline for submissions was 1 September 2020

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 27 November 2020 at the premises of the Single Resolution Board in Brussels [or 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 seeing you in November 2020!


Download Bank resolution in times of COVID-19 Brochure
Go to event website
Mar
3
Wed
Climate Risks Academy @ EUI Premises, Florence
Mar 3 – Mar 5 all-day

Course co-organised with Oliver Wyman.

Quantitative

Course dates: 03-05 March 2021

Place: EUI Premises, Florence

Course Instructors: Jos Delbeke (European University Institute – School of Transnational Governance); Andrea Federico, Ilya Khaykin, Alban Planet (Oliver Wyman); Anne Platou(Bank ASA); Peter Vis (Rud Pedersen Public Affairs); More tba

Area: Risk Management

Level: Intermediate

Target: EU officials, EBA, ESRB, SRB, National Supervisory Authorities, Financial stability and research departments of central banks, Financial institutions professionals, Lawyers, Ph.D. and Post-doctoral researchers.

Mar
22
Mon
Network Analysis Techniques For Applications in Finance and Economics @ EUI Premises, Florence
Mar 22 – Mar 24 all-day

Course dates: 27-29 May 2020

Place: EUI Premises, Florence

Course Instructors:Christian Brownlees (Universitat Pompeu Fabra and Barcelona Graduate School of Economics); Iman van Lelyveld (VU University 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.

More information and registrations