logo-euiFlorence School of Banking & Finance

Calendar

Apr
27
Thu
FBF Annual Conference: “The Changing Geography of Finance and Regulation in Europe” @ Villa Schifanoia
Apr 27 all-day
FBF Annual Conference: "The Changing Geography of Finance and Regulation in Europe" @ Villa Schifanoia | Firenze | Toscana | Italy

The annual conference of the Florence School of Banking and Finance, organised at the European University Institute (EUI), brings together leading economists, lawyers, political scientists and policy makers to discuss the current economic situation in Europe.

Organisers:

Franklin Allen | Brevan Howard Centre Imperial College
Elena Carletti | BAFFI CAREFIN Bocconi University and European University Institute
Joanna Gray | Birmingham University
Mitu Gulati | Duke University

Background:

The financial world is undergoing a profound technological change. The advent of innovative technologies is unsettling the industry’s modus operandi which will soon enough disrupt the current practices of both supervisors and central banks. Big data, block-chain and the proliferation of distributed ledgers are only a few illustrations of a wider financial technology industry build-up – known as FinTech – which will revolutionise the global financial infrastructure.
As a result of this, the geography of finance is evolving at a rapid pace. In this new context of digital transformation and innovation, how should regulation respond? Is regulatory arbitrage and the reliance on more decentralised regulatory regimes a possible solution or is the top-down central model resilient enough to sustain these changes? Can regulators turn these new challenges into opportunities?

Sessions:

  • Session 1: The New World of FinTech
  • Session 2: Regulatory Arbitrage across Jurisdictions
  • Session 3: A Case Study: BREXIT

MORE INFORMATION AND REGISTRATION

Jun
12
Mon
International Risk Management Conference 2017 @ Various locations, Florence, Italy
Jun 12 – Jun 14 all-day
International Risk Management Conference 2017 @ Various locations, Florence, Italy

The International Risk Management Conference – 10th Edition of the Annual Meeting of The Risk, Banking and Finance Society takes place in Florence on June 12-14, 2017.

This event brings together professionals and leading experts from various academic disciplines, among others: Davide Alfonsi (Intesa Sanpaolo), Edward I.Altman (NYU Stern), Menachem Brenner (NYU Stern), Michael Gordy (Principal Economist – Board of Governors of Federal Reserve System), Rossella Locatelli (University of Insubria), Anthony Saunders (NYU Stern) and David Yermack (NYU Stern).

In the framework of the conference, the Florence School of Banking and Finance is organizing a professional workshop entitled “Financial Markets and Institutions. This half-day workshop, taking place at the EUI premises in San Domenico di Fiesole on June 14th, will explore the increasingly intertwined nature of risk management and regulation.

 

The Call for Papers for the IRMC conference is now open.
To celebrate the 10th edition of the conference, RBF and Classis Capital SIM will offer a € 3000 cash prize for the Best Conference Paper. The winner will be selected by a World Review Committee and will be announced at the Gala dinner.

The conference welcomes all theoretical, methodological and empirical contributions relevant to the theme “Assessing 10 Years of Changes in the Financial Markets: How will the Future be impacted?”. 
Full papers must be submitted by March 15, 2017. The accepted papers will be presented in parallel sessions. Complete information regarding the Call for Papers can be found on the IRMC website.

 

Further information on the event can be found on the conference website: http://www.therisksociety.com/.
Nov
27
Mon
Central Banking in Europe Today: Over-Mighty or Under-Powered? @ Villa La Fonte, EUI
Nov 27 @ 4:30 pm – 6:30 pm

Download the paper that followed the speech

RECORDING OF THE EVENT


Agenda

16:30 | Introduction by Vincenzo Grassi, EUI Secretary General and Brigid Laffan, RSCAS EUI

16:50 | Introduction by Andrea Simoncini, UNIFI and Fondazione CR Firenze

17:00 | Lecture by Patrick Honohan “Central Banking in Europe today: Over-mighty or Under-powered”

17:45 | Q&A, moderated by Giorgia Giovannetti, UNIFI and EUI

18:30 | Reception for all participants

 


Abstract

The ECB and other European Central Banks have never looked so powerful. They have driven interest rates below zero and purchased trillions of euros of government and other bonds. They have become more active in bank supervision – a function now also centralised for the euro zone in the ECB. Moreover, a much broader toolkit than used in past decades is being energetically employed. Having tested the limits of their mandates, the ECB and other European Central Banks are now unlikely to return to the light touch policy of the 1990s. However, some puzzles remain:

  • Why is inflation in the euro area – the main statutory objective of the ECB – still below target?
  • Why were these tools not employed earlier in the crisis?
  • Is there more that could be done now, such as “helicopter money”; and if so, should it be used?

This lecture will explain how the crisis has gradually drawn the ECB into policy areas and instruments for which its mandate is less explicit, though no less real. The Frankfurt-based Bank has, in the past ten years, changed more than most central banks. Like other major central banks, it has had to innovate in response to developments in globalization, in commodity price fluctuations and in unusually large fiscal deviations. But in doing so the ECB has been faced with unique challenges of political legitimacy as well as of economic analysis in the multi-country currency union.

 


Speaker

Patrick Honohan
Honorary Professor of Economics at Trinity College Dublin; Nonresident Senior Fellow at the Peterson Institute for International Economics
Former Governor of the Central Bank of Ireland

Patrick Honohan was Governor of the Central Bank of Ireland and a member of the Governing Council of the European Central Bank from September 2009 to November 2015. He is an honorary professor of economics at Trinity College Dublin and a nonresident senior fellow at the Peterson Institute for International Economics, Washington, DC. Previously he spent twelve years on the staff of the World Bank where he was a Senior Advisor on financial sector issues. During the 1990s he was a Research Professor at Ireland’s Economic and Social Research Institute. In the 1980s he was Economic Advisor to the Taoiseach (Irish Prime Minister) Garret FitzGerald. He also spent earlier spells at the Central Bank of Ireland and at the International Monetary Fund. A graduate of University College Dublin, he received his PhD in Economics from the London School of Economics in 1978. He has taught economics at the London School of Economics, at University College Dublin and as a visitor to the University of California San Diego and the Australian National University as well as at Trinity College Dublin. He was elected a member of the Royal Irish Academy in 2002.

 
Mar
15
Thu
The banks and the market – Lecture by Sabine Lautenschläger @ Palazzo Incontri
Mar 15 @ 4:00 pm – 6:10 pm


Abstract

In her speech, Sabine Lautenschläger argues that, in a well-functioning banking sector, banks must be able to fail. It is key, however, that they can do so in an orderly manner without destabilizing the entire banking system. Against that backdrop, Ms Lautenschläger discusses the role of the supervisor within the European framework for bank resolution. She also sheds light on the importance of the upcoming European stress test for supervisors’ assessments of banks’ resilience.

The event will be in Italian and English, simultaneously translated.

 

Agenda

16:35 | Opening remarks by Giuseppe Morbidelli (President, Fondazione CESIFIN Alberto Predieri)

16:40 | Presentation of the FBF and the speaker by Elena Carletti (Scientific Director, Florence School of Banking and Finance)

16:45 | Lecture by Sabine Lautenschläger (Member of the Executive Board and Vice-Chair of the Supervisory Board of the ECB): ‘The banks and the market’

17:30 | Questions and answers with the public, moderated by Emilio Barucci (Full professor of Financial Mathematics, Polytechnic University of Milan)

18:00 | Closing remarks by Vincenzo Grassi (Secretary General, European University Institute) and Giuseppe Rogantini-Picco (Member of the Board, Fondazione CR Firenze)

18:10 | Cocktail for all participants

 

Speaker

Sabine Lautenschläger

Member of the Executive Board & Vice-Chair of the Supervisory Board of the European Central Bank

Sabine Lautenschläger, born in 1964, studied law in Bonn. After passing the second state examination in law, she joined the Bundesaufsichtsamt für das Kreditwesen (BAKred – Federal Banking Supervisory Office), which later became the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin – Federal Financial Supervisory Authority). In the course of her career at BAKred/BaFin, she held several management positions before being appointed BaFin’s Chief Executive Director of Banking Supervision in 2008. Later, in 2011, she additionally was Member of the Management Board and Board of Supervisors of the European Banking Authority (EBA) in London. In 2011 Sabine Lautenschläger moved to the Deutsche Bundesbank, serving as Vice-President until January 2014 when she was appointed to the Executive Board of the European Central Bank. As Member of the Executive Board she is also Member of the Governing Council which is responsible for the Monetary Policy in the Euro Area. Since her appointment as Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism (SSM) in February 2014, she has also been in charge of ECB Banking Supervision. She represents ECB Banking Supervision in the Basel Committee on Banking Supervision and in the Financial Stability Board Plenary.

 

EVENT CO-ORGANISED WITH

Fondazione CESIFIN Alberto Predieri

Fondazione CR Firenze

Apr
26
Thu
FBF Annual Conference: ‘Institutions and the Crisis’ @ Villa Schifanoia
Apr 26 all-day
FBF Annual Conference: 'Institutions and the Crisis' @ Villa Schifanoia | Firenze | Toscana | Italy

The annual conference of the Florence School of Banking and Finance, organised at the European University Institute (EUI) brings together leading economists, lawyers, political scientists and policy makers to critically analyse, review and debate the most salient elements and gaps of Europe’s post-crisis institutional architecture.

Organisers:

Franklin Allen | Brevan Howard Centre Imperial College
Elena Carletti | BAFFI CAREFIN Bocconi University and European University Institute
Mitu Gulati | Duke University

Background:

The crisis has turned Europe’s economic and financial governance into a patchwork of bodies, instruments and rules that are hard to disentangle. Against this background, the purpose of this conference is to critically analyse, review and debate the most salient elements and gaps of Europe’s post-crisis institutional architecture.

More specifically, the conference aims:
  • to draw analytical and practical lessons from the crisis management solutions provided by European Union institutions
  • to interrogate how courts discussed, challenged and legitimized the EU’s key crisis-led decisions
  • to look ahead and boldly ask and discuss what should be the Economic and Monetary Union’s optimal institutional set-up – also in light of a renewed and conceivably more dynamic French-German cooperation moment.

Sessions:

  • Session 1: A Look Back: Evaluating European Institutions’ Crisis Management
  • Session 2: Disentangling The Crisis And The Courts
  • Session 3: The Way Forward: The Eurozone’s Institutional Prospects

MORE INFORMATION AND REGISTRATION