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Nov
10
Fri
Online Seminar – The Future of the Banking Union @ FBF Online Platform
Nov 10 @ 1:00 pm – 2:15 pm
DOWNLOAD THE SLIDES OF THE PRESENTATION

 

Participation free – registration mandatory

This online seminar aims at giving a better understanding of the way the Banking Union is evolving and the ways it should develop in the coming year to be better equipped to cope with future risks. As presented in the recently published European Commission Communication on “Completing the Banking Union”, the seminar will therefore describe and discuss the measures to be adopted to complete the Banking Union and to make the European banking sector more resilient. After a brief introduction on the broader context in which the recent Commission Communication was conceived, speakers will then focus on the three main aspects addressed by the Commission Communication, namely:
  • The new ideas put forward by the Communication to set up a European Deposit Insurance Scheme (EDIS) in relation to the system proposed with the legislative proposal of 2015;
  • Non-Performing Loans (NPLs) in the European banking sector and the measures announced by the Communication to tackle such issue;
  • The characteristics of Sovereign-Bonds Backed Securities (SBBSs) and their potential usefulness in contributing to the diversification of financial institutions’ portfolios of sovereign bonds.
The presentations will be followed by an interactive Questions and Answers session.
 

Speakers

Mario Nava (Director, Financial System Surveillance and Crisis Management, DG FISMA, European Commission)

Mario Nava holds a first degree in economics from Bocconi University (1989), an MA from the Université Catholique de Louvain, Belgium (1992) and a PhD in Public Finance from the London School of Economics (1996). As of May 2016, he is Director of the ‘Financial system surveillance and crisis management’ directorate in the Financial Stability, Financial Services and Capital Markets Union DG (formerly the Internal Markets and Services DG) of the European Commission. He was previously Director of the ‘Regulation and prudential supervision of financial institutions’ directorate. Prior to that, from April 2011, he held the position of Acting Director. From November 2009 until September 2013, he was Head of the ‘Banking and Financial Conglomerates’ unit. Previously, he the Head of the ‘Financial Markets Infrastructure’ Unit. a member of the Group of Policy Advisers of the EU Commission President, Prof. Romano Prodi, and a member of the Cabinet of the Competition Commissioner, Prof. Mario Monti (2000-2001). Alongside his work at the Commission he is active in research and teaching.

       Giulia Bertezzolo (Policy officer, DG FISMA, European Commission)

Giulia Bertezzolo currently works as policy officer working on banking resolution and crisis management at the Directorate General for Financial Stability, Financial Services and Capital Markets Union and had previously worked on banking regulation and supervision. Among other tasks, Ms Bertezzolo led the work streams on the completion of Banking Union, on additional capital requirements (Pillar 2) and on proportionality of banking regulation. She also represented the Commission in European and international fora. She joined the European Commission in 2011, after having worked in Rome and Verona as attorney specialized in EU and administrative law and as a lecturer at the University of Trento School of Law. She holds a law degree and a PhD in EU and Comparative Administrative Law from the University of Trento, and in 2008 concluded a post-doctoral program on financial regulation at the Jean Monnet Centre of the New York University and she was awarded the best-PhD thesis prize by Istituto di ricerche sulla Pubblica amministrazione (IRPA). She published many essays and articles on EU and international law issues, including on banking regulation and supervision.

       Markus Aspegren (Economist, DG FISMA, European Commission)

Markus Aspegren is an Economist at the European Commission, Directorate General for Financial Stability, Financial Services and Capital Markets Union. He currently works on financial stability issues where he, among other tasks, focuses on the coordination of the Commission’s efforts to tackle non-performing loans. He joined the European Commission in 2012, after having served as Portfolio Manager at BNP Paribas Corporate & Investment Banking, as well as Risk and Solvency Manager in the CFO-office of BNP Paribas Fortis. Prior to this he was an Economist and Policy Advisor at the Ministry of Enterprise in Stockholm, Sweden. He holds an MBA from the Vlerick Business School in Belgium and a Master of Science in Macroeconomics from the Stockholm School of Economics.

       Davide Lombardo (Senior Economist, DG FISMA, European Commission)

Davide Lombardo is a senior economist with the EU/Euro Area Financial Sector Unit of the Directorate General for Financial Stability, Financial Services and Capital Markets Union at the European Commission. Currently he is in particular co-leading a work stream on the regulatory treatment of so-called Sovereign Bond-Backed Securities (SBBS). He joined the European Commission in 2016, after working for 15 years at the International Monetary Fund, including on several IMF Programs. He holds a Ph.D. degree in economics from Stanford (2001), with specialization in finance and international economics.

       

Scientific Advisor

Emiliano Tornese, Deputy Head, Resolution and Crisis Management, European Commission
 

Technical disclaimer

The online seminar will take place on the Adobe Connect platform. You can access the seminars from personal computers, laptops, tablets and smartphones. You are strongly encouraged to read the technical requirements before registering for the online seminar. 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.

Jan
25
Thu
Online Seminar – Venezuela’s ‘Hunger’ Bonds @ FBF Online Platform
Jan 25 @ 1:00 pm – 2:00 pm


Download the slides of the presentation


An age-old question in international finance and law, dating back at least to the days of the Czar is: what happens when a country leadership chooses to favor the interests of foreign bondholders over those of its local population, using despotic means? Does the local population, after the leadership has been removed, have to continue paying these “odious” debts? Today, the question is being posed to the international community, front and center, in the context of the Venezuelan debt crisis, where an anti-democratic leadership continues to favor the interests of foreign bondholders over a deprived local population.

Those questions as well as the relevance of such a debate in a European context – where debt restructuring is regularly popping up and off the policy agenda – were be answered in this online seminar by sovereign debt scholars, Mitu Gulati (Duke University) and Jeromin Zettelmeyer (Peterson Institute for International Economics) who will also bring contrasting perspectives from international law and economics.


 

Speaker

Mitu Gulati (Professor of Law at Duke University)

Mitu Gulati is a Professor of Law at Duke Law School, Duke University. Previously, he taught at Georgetown University Law Center, and at the UCLA School of Law, and visited among others the University of Chicago, Duke University Law School, and the University of Virginia School of Law. Prior to joining academia, he held positions in law firms in New York, Boston and Newark. His main expertise lies in the field of sovereign bond contracts; current research interests include the historic evolution of concepts of sovereign immunity and the role that law can play as a symbol. He has authored articles, among others in the Journal of Legal Studies, the Review of Finance and Law and Social Inquiry, as well as books and book chapters.

 

 

Discussant

Jeromin Zettelmeyer (Senior Fellow at the Peterson Institute of International Economics)

Jeromin Zettelmeyer is a Senior fellow at the Peterson Institute for International Economics. Previously, he served as director-general for economic policy at the German Federal Ministry for Economic Affairs and Energy, where he was responsible for economic analysis and forecasting, the microeconomic policy framework, and a key policy initiative to boost private and public investment. He also represented Germany at the OECD Economic Policy Committee and served as a founding cochair of the OECD’s Global Forum on Productivity. Before joining the German government, he was director of research and deputy chief economist at the EBRD; nonresident fellow at PIIE; earlier, a staff member of the IMF. His current research and policy interests include Europe’s currency union, Greece’s debt problem, the social impact of macroeconomic adjustment and reform, and the causes and consequences of the global productivity slowdown.

 


 

Technical disclaimer

The online seminar will take place on the Adobe Connect platform. You can access the seminars from personal computers, laptops, tablets and smartphones. You are strongly encouraged to read the technical requirements before registering for the online seminar. 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.

Feb
15
Thu
Online Seminar – A French-German Vision on Euro Area Reform @ FBF Online Platform
Feb 15 @ 1:00 pm – 2:00 pm


Download the slides of the presentation

Market discipline and risk sharing should be viewed as complementary pillars of the euro area financial architecture, rather than as substitutes. Achieving this complementarity, however, is not easy. It calls for stabilisation and insurance mechanisms that are both effective and cannot give rise to permanent transfers. And it requires a reformed institutional framework.

Against this background, the seminar presented and discuss the recent Euro Area reform proposal formulated in a CEPR Policy Insight by a group of independent French and German economists with differing views and political sensitivities but a shared conviction that the current deadlock must be overcome.

The proposal asserts that a reform of the euro area is needed for three reasons: first, to reduce the continued vulnerability of the euro area to financial instability; second, to provide governments with incentives for reform; third – and perhaps most importantly – to remove a continuing source of division between euro area members and of resentment of European institutions, which has contributed to the rise of anti-euro populism and which could eventually threaten the European project itself.


 

Speakers

Jean Pisani-Ferry (EUI, Bruegel, Hertie School of Governance and Sciences Po)

Jean Pisani-Ferry is a professor of economics with Sciences Po Paris and the Hertie School of Governance in Berlin, and he holds the Tommaso Padoa-Schioppa chair of the European University Institute in Florence. In the first half of 2017, Pisani-Ferry contributed to Emmanuel Macron’s presidential bid as the Director of programme and ideas of his campaign. Beforehand, he served from 2013 to end-2016 as Commissioner-General of France Stratégie. Previously, he was Founding Director of Bruegel, Executive President of the French PM’s Council of Economic Analysis, Senior Economic Adviser to the French Minister of Finance, Director of CEPII, and Economic Adviser with the European Commission. He taught at University Paris-Dauphine, École Polytechnique, École Centrale and the Free University of Brussels. His publications include numerous books and articles on economic policy and European policy issues. He has also been an active contributor to public debates with regular columns in the international media.

 

 

Henrik Enderlein (Hertie School of Governance and Jacques Delors Institute Berlin)

Henrik Enderlein is Director of the Jacques Delors Institut – Berlin and Professor of Political Economy at the Hertie School of Governance. He is also a Visiting Fellow at the EUI’s Robert Schuman Centre for Advanced Studies. He previously worked as economist at the European Central Bank and was Junior Professorship in Economics at the Free University Berlin. Since 2013, he is a member of the independent German fiscal council. His awards include the Max Planck Society’s Otto-Hahn Medal for outstanding achievements by young scientists, a Fulbright Distinguished Chair at Duke University’s Political Science Department in 2006-2007, and the Pierre Keller Visiting Professorship at Harvard Kennedy School in 2012-2013. His widely published research is focused on the political economy of economic policy-making, with a special focus on the Euro, the ECB, the EU-Budget, European integration, fiscal federalism, and sovereign defaults.

 

 

 

Jeromin Zettelmeyer (Peterson Institute for International Economics)

Jeromin Zettelmeyer is a Senior fellow at the Peterson Institute for International Economics. Previously, he served as director-general for economic policy at the German Federal Ministry for Economic Affairs and Energy, where he was responsible for economic analysis and forecasting, the microeconomic policy framework, and a key policy initiative to boost private and public investment. He also represented Germany at the OECD Economic Policy Committee and served as a founding cochair of the OECD’s Global Forum on Productivity. Before joining the German government, he was director of research and deputy chief economist at the EBRD; nonresident fellow at PIIE; earlier, a staff member of the IMF. His current research and policy interests include Europe’s currency union, Greece’s debt problem, the social impact of macroeconomic adjustment and reform, and the causes and consequences of the global productivity slowdown.

 


 

This online seminar is organised in cooperation with the Tommaso Padoa-Schioppa Chair in European Economic and Monetary Integration at the European University Institute.

 

Technical disclaimer

The online seminar will take place on the Adobe Connect platform. You can access the seminars from personal computers, laptops, tablets and smartphones. You are strongly encouraged to read the technical requirements before registering for the online seminar. 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.

Apr
17
Tue
Online Seminar – Risk Reduction in the Banking Union: NPLs and Sovereign Debt Concentration @ FBF Online Platform
Apr 17 @ 1:00 pm – 2:00 pm


Download the presentation here

‘Risk reduction’ is a key condition to complete the Banking Union. Risk-reduction is understood to refer to two main issues: the treatment of Non-Performing Loans (NPLs) and the concentration of sovereign exposure.

In this online seminar, Daniel Gros and Willem Pieter De Groen (CEPS) will first argue that the stock of NPLs is by now well-known and should no longer be considered a ‘risk’. The only question that remains is whether banks are willing to recognise the losses, today or later. Also, there is little evidence that banks with high NPL ratios lend less. Low capital ratios constitute a more important determinant of lending.

Gros and De Groen will then claim that the concentration of sovereign exposures (on the domestic sovereign) should be looked at in the context of the overall balance sheet of the banks. They will show that banks with different business models in the three major euro area countries (DE, FR and IT) seem to follow very different incentives. On the one hand the countries with more dominant investment banks show less concentration because they rely more on market financing, which would become more expensive if the asset side of their balances shows excessive concentration. On the other hand countries with more retail oriented banks, the yield differential on peripheral government bonds, might be less of an issue at first sight, but becomes more important in the medium to long term when they have to issue bonds to fulfill the MREL requirements.


 

Speakers

Daniel Gros (Director, CEPS – Centre for European Policy Studies)

Daniel Gros is the Director of the think tank Centre for European Policy Studies (CEPS), which he joined first in 1986-1988 and then again in 1990. He has worked International Monetary Fund from 1983 to 1986, and served as economic advisor to the Directorate General II of the European Commission from 1988–1990, co-authoring the study targeted to design the Euro, the European Parliament from 1998-2005, as well as several government members, including the Prime minister and the Finance minister of France. He has also taught at the College of Europe in Natolin and numerous other universities throughout Europe. His current research primarily focuses on EU economic policy, specifically on the impact of the euro on capital and labour markets, as well as on the international role of the euro, especially in Central and Eastern Europe. He also monitors the transition towards market economies and the process of enlargement of the European Union towards the east.

 

 

Willem Pieter De Groen (Research Fellow and Head of Financial Markets and Institutions Unit, CEPS – Centre for European Policy Studies)

Willem Pieter De Groen is a Research Fellow at the Center for European Policy Studies (CEPS), heading the Financial Markets and Institutions Unit, and is an associate researcher at the International Research Centre on Cooperative Finance (IRCCF) of HEC Montréal, contributing to research on financial systems. He has authored and co-authored studies and coordinated projects on EU and Near East financial institutions regulation, diversity in bank ownership and business models, retail financial services and financial instruments. Moreover, he also works on small and medium-sized enterprises obstacles to growth and access to finance as well as collaborative economy and taxation.

 

 


 

Technical disclaimer

The online seminar will take place on the Adobe Connect platform. You can access the seminars from personal computers, laptops, tablets and smartphones. You are strongly encouraged to read the technical requirements before registering for the online seminar. 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.

Apr
27
Fri
EUI-nomics 2018 @ EUI Premises, Florence
Apr 27 all-day
EUI-nomics 2018 @ EUI Premises, Florence | Fiesole | Toscana | Italy

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.

MORE INFORMATION AND REGISTRATION

May
2
Wed
Online Seminar – The Road to a European Monetary Fund @ FBF Online Platform
May 2 @ 1:00 pm – 2:00 pm


Download the slides presented by Rolf Strauch

Download the slides presented by Marcello Messori


 

Abstract

The European Stability Mechanism (ESM) was established during the euro crisis to fill a gap in the institutional set-up of the monetary union: that of a lender of last resort for sovereigns. Several other reforms were also undertaken in that period, both at the national and at the supranational level. As a result, the euro area is now much stronger than before the crisis, both economically and institutionally. But a number of weaknesses to make EMU more robust still need to be fixed. In the debate about deepening the monetary union, a wider role for the ESM is one of the ideas under discussion.

In this online seminar, Rolf Strauch (ESM) will argue that developing a European Monetary Fund (EMF) is not a goal in itself, but could help to make the euro area economy more resilient. Various new functions are under discussion. Strauch will explain that there is a widespread consensus that these functions would be economically useful, and will stress that it is important not to miss this unique political opportunity to further integrate the monetary union.

Marcello Messori (School of European Political Economy, LUISS) will then provide his views and comments on the argument. As always the session will end with an interactive Question and Answers session.


 

Speakers

Rolf Strauch (Chief Economist and Member of the Management Board, European Stability Mechanism)

Rolf Strauch is the Management Board Member in charge of Economics, Policy Strategy, and Banking at the European Stability Mechanism and EFSF, which he joined in 2010. He is responsible for economic and financial analysis and policies, strategic orientation, and the country monitoring work that the ESM and EFSF undertake. He represents the ESM and EFSF in European fora, negotiates with Member States, and handles relations with credit rating agencies. Prior to this, he worked at the European Central Bank from 2000–2010 in the Directorate General Economics on fiscal, monetary, and structural policies. He also served previously as an economist at the Deutsche Bundesbank and as a researcher at both the University of Mannheim and the University of Bonn. He holds a Ph.D. in Economics from the University of Bonn and is a fellow at the Center for European Integration Studies (ZEI) in Bonn.

 

Marcello Messori (Professor of Economics, LUISS Guido Carli University)

Marcello Messori is Professor of Economics at the Department of Political Science, LUISS University and Director of the LUISS School of European Political Economy. He also chairs the Scientific Committee of Centro Europa Ricerche (CER) in Rome. Previously he taught in the Department of Economics at University of Rome ‘Tor Vergata’ and has been involved in several institutional activities, among others as Chairman of the government-established Society for the Development of the Italian Market of Pension Funds (MeFoP), and the president of the Italian Association of Asset Management (Assogestioni). He published widely in economic theory and applied economics and is a regular contributor to leading Italian newspapers, including “Corriere della sera” and previously “la Repubblica” and “Il Sole 24 Ore”.

 


 

Technical disclaimer

The online seminar will take place on the Adobe Connect platform. You can access the seminars from personal computers, laptops, tablets and smartphones. You are strongly encouraged to read the technical requirements before registering for the online seminar. 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.

May
22
Tue
Online Seminar – Bank Lending in The Age of Digital Disruption @ FBF Online Platform
May 22 @ 1:00 pm – 2:00 pm



Digital technologies are disrupting the world of banking and finance. Their advent visibly results in new opportunities. However, digital banking may also bring along new threats. Against the background of a long series of financial and technological innovations, this online seminar will focus on the economics of banking services in the new digital age. Professor Jean Dermine (INSEAD) will concentrate on banks’ two main functions – the provision of liquidity and the provision of loans – and will ask whether these services could be displaced by peer-to-peer and marketplace lending.

Dermine will in particular assess one segment of digital disruption, peer-to-peer (P2P) lending. The case of Lending Club, the emblematic leader of the US P2P sector will help to anchor the discussion on real-life issues and to anticipate likely developments in the globalized industry. In his talk he will also engage with contemporary regulatory issues.

Giacomo Calzolari (University of Bologna and Center for Economic Policy Research) will then provide his views and comments on the argument.

As always the session will end with an interactive Question and Answers session.

 

References:
The content of the seminar is based on two publications by Professor Dermine:


Speakers

Jean Dermine (Professor of Banking and Finance, INSEAD)

Jean Dermine is Professor of Banking and Finance at INSEAD and director of the its ‘Strategic Management in Banking’ and ‘Risk Management in Banking’ senior executive programs. He is also the founder of the INSEAD Centre for International Financial Services. He has been a Visiting Professor in several universities, including the Wharton School of the University of Pennsylvania, the University of Lausanne and CESAG in Dakar, and has been a visiting fellow at New York University, Göteborg University and the Stockholm Schools of Economics. As a consultant or director of training programmes, he has worked with European institutions, national central banks, consulting firms and private banks. His  research deals with topics including long-term value creation and risk control, FinTech, asset & liability management, bank valuation, credit risk and loan-loss provisioning.

 

Giacomo Calzolari (Professor of Economics, University of Bologna)

Giacomo Calzolari is Professor of Economics at the University of Bologna and Research Fellow at the Centre for Economic Policy Research in London. He has been conferred the Young Economist Award of the European Economic Association and the 2014-Best paper award by the Association of Competition Economics. He has published in top international journals such as American Economic Review, Rand Journal of Economics, International Economic Review and Journal of Economic Theory. He is co-editor of journals including the ‘International Journal of Industrial Organization’ and ‘Labour: Review of labour economics and industrial relations’. He is member of steering committee of the European Association of Industrial Economics and the Association of Competition Economics.

  
 

Technical disclaimer

The online seminar will take place on the Adobe Connect platform. You can access the seminars from personal computers, laptops, tablets and smartphones.
You are strongly encouraged to read the technical requirements before registering for the online seminar.
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.

Jun
22
Fri
Online seminar – SBBS: from Theory to Practice @ FBF Online Platform
Jun 22 @ 1:00 pm – 2:00 pm

 

This online seminar focuses on the recent Commission proposal for a bespoke regulatory framework for sovereign-bond backed securities (SBBS). A novel concept, SBBS have the potential to contribute to a more resilient Banking Union and a more efficient Capital Markets Union by helping banks and other financial institutions better diversify their sovereign bond portfolios and by expanding the toolkit for private sector risk-sharing, especially across borders. But they face several regulatory hindrances, which result—in a way—from their own being so novel. The recent Commission proposal aims to eliminate such hindrances, thus giving SBBS a chance.

Commission officials will present the broad contours of the draft legislation, and will discuss the trade-offs faced when drafting it and the rationale underpinning the various choices made. The presentations will be followed by an interactive Questions and Answers session.

 

Speakers

Peter Grasmann (Head of Unit, Economic Analysis of Financial Markets and Financial Stability – DG FISMA, European Commission)

Peter Grasmann studied economics, law and statistics at Munich University and University of California at Berkeley. He holds a PhD in economics. Previously he worked as lecturer at Munich University and CALTECH and later in financial services as analyst and consultant. He joined the European Commission in 1991. He first worked on financial integration and capital movements, later on economic analysis and forecasting for the EU economy and subsequently as Head of unit on the economic relationship with candidate and potential candidate countries. After a year of secondment to the International Civilian Office in Kosovo (UN1244) he returned to Brussels to lead a team on economic analysis of financial markets and financial stability.

  

Davide Lombardo (Senior Economist, EU/Euro Area Financial Sector Unit – DG FISMA, European Commission)

Davide Lombardo is a senior economist with the EU/Euro Area Financial Sector Unit of the Directorate General for Financial Stability, Financial Services and Capital Markets Union at the European Commission. Currently he is in particular co-leading a work stream on the regulatory treatment of so-called Sovereign Bond-Backed Securities (SBBS). He joined the European Commission in 2016, after working for 15 years at the International Monetary Fund, including on several IMF Programs. He holds a Ph.D. degree in economics from Stanford (2001), with specialization in finance and international economics.

   

  


Technical disclaimer

The online seminar will take place on the Adobe Connect platform. You can access the seminars from personal computers, laptops, tablets and smartphones. You are strongly encouraged to read the technical requirements before registering for the online seminar. 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
19
Wed
Online seminar – The SSM approach to tackling NPLs: progress made and challenges ahead @ FBF Online Platform
Sep 19 @ 1:00 pm – 2:15 pm
Tackling NPLs has been one of the SSM priorities since its set up. NPLs weigh on banks’ balance sheets, impact on their profitability and divert resources from more proactive use. To this end the SSM has developed a comprehensive strategy to tackle NPLs which requires complementary actions from other EU stakeholders. The seminar will present the supervisory actions taken, outline the results achieved so far, and discuss the challenges ahead.
 

Speakers

Ignazio Angeloni Member of the Supervisory Board of the European Central Bank

Ignazio Angeloni, born in Milan, holds a degree from Bocconi and a PhD in Economics from the University of Pennsylvania. He has been Director of Monetary and Financial Research at the Bank of Italy; Deputy Director General of Research at the European Central Bank; Director for International Financial Relations at the Ministry of Economy and Finance of Italy and Director General for Financial Stability at the ECB. He has coordinated the ECB’s preparatory work for the Single Supervisory Mechanism. Currently he is a member of the Supervisory Board of the ECB. Since February 2017 he is also a non-voting member of the Single Resolution Board. A former Fellow of Bruegel, he has taught at various universities and is the author of books and articles in leading international economic journals.

 

Sharon Finn Advisor on Credit Risk & NPLs, SSM

Sharon Finn is an experienced Credit Risk Advisor and Project Management coordinator working within DGMS2 of the European Central Bank. Since joining the ECB, her work program has covered a broad range of Credit Risk topics across a number of countries including policy development and implementation relating to credit risk frameworks , credit underwriting standards, risk identification, NPLs, provisioning, collateral valuation, forbearance, strategic plans and reporting. She is responsible for advisory aspects relating to Credit risk for DGMS2 and is a member of the project management team of the ECB NPL Taskforce and has responsibility for coordinating a specific workstream of the taskforce focused on bank specific activities. Prior to joining the ECB, she worked in the Central bank of Ireland in the area of credit risk and macro prudential projects including the CBI Macro prudential lending guidelines. Prior to joining the public sector, Sharon worked for many years in Commercial banking roles in the Irish banking sector. This involved working both in new lending activities across a wide range of industry sectors, in Risk departments and also on the front line as a Credit Portfolio Manager of a distressed Commercial Portfolio focused on the restructuring of non-performing loans/provisioning assessments.

Anne Fröhling Head of Section, SSM

Anne Fröhling joined ECB Banking Supervision in 2014. As Head of Section she coordinates a Joint Supervisory Team and is thus closely involved in day-to-day supervision. In addition, since 2015 she is coordinating the Taskforce on Non-Performing Loans at the European Central Bank which developed the ECB NPL Guideline and Addendum. In former positions, Anne worked as project manager for Oliver Wyman and as Stress Test coordinator for the European Insurance and Occupational Pensions Authority (EIOPA).

 

 

Giuseppe Siani Deputy Director General of Microprudential Supervision IV, SSM

Giuseppe Siani is Deputy Director General of Microprudential Supervision IV. In this role, he covers a wide range of topics related to horizontal and specialised supervision. Before joining the European Central Bank, he has held various roles of increasing responsibilities both as supervisor and policymaker, including the Head of the supervisory tem of the then Italian largest cross-border banking group and Head of International Regulation at the Bank of Italy. Over the years he had also worked at the European Commission and had been a member of several Financial Stability Board (FSB) and Basel Committee on Banking Supervision (BCBS) working groups. He had also chaired the BCBS Working Group on Contingent Capital (2010-2012), the joint BCBS-CPSS-IOSCO Working Group on CCPs (2012-2014), the BCBS Risk Measurement Group (2012-2016) and the BCBS Working Group on Capital (2013-2017). After graduating in economics and finance, Giuseppe began his career in the reinsurance sector where he has worked on both finite-risk and natural events related products. He lives in Frankfurt am Main with his wife and two daughters.

 

 


Technical disclaimer The online seminar will take place on the Adobe Connect platform. You can access the seminars from personal computers, laptops, tablets and smartphones. You are strongly encouraged to read the technical requirements before registering for the online seminar. 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.
Oct
9
Tue
Online seminar – Sustainable Finance: Rationale and Building Blocks @ FBF Online Platform
Oct 9 @ 1:00 pm – 2:00 pm

Download the presentation

By adopting the Paris Agreement on climate change and the UN 2030 Agenda for Sustainable Development in 2015, governments from around the world chose a more sustainable path for our planet and our economy. The UN 2030 Agenda has at its core 17 Sustainable Development Goals (SDGs). Over the next 15 years, these goals will guide us in preparing for a future that ensures stability, a healthy planet, fair, inclusive and resilient societies and prosperous economies. The Paris Agreement, signed in December 2015 by 195 countries, is the first-ever universal, global climate deal to adapt and build resilience to climate change and to limit global warming to well below 2°C. Sustainability and the transition to a low-carbon, more resource-efficient and circular economy are key in ensuring long-term competitiveness of the EU economy. The financial system has a key role to play here. The financial system is being reformed to address the lessons of the financial crisis, and in this context it can be part of the solution towards a greener and more sustainable economy. Reorienting private capital to more sustainable investments requires a comprehensive shift in how the financial system works. This is necessary if the EU is to develop more sustainable economic growth, ensure the stability of the financial system, and foster more transparency and long-termism in the economy. Such thinking is also at the core of the EU’s Capital Markets Union (CMU) project. The seminar will first present the recent Sustainable Finance Action Plan and will then focus on the key building blocks to define what sustainable economic activities are.


 

Speakers

Ugo Bassi (Director of Financial Markets in the European Commission’s DG FISMA)

Ugo Bassi is Director of Financial Markets in the European Commission’s DG FISMA (Financial services). Among other high priority files, he manages the Capital Markets Union (CMU), a key priority and catalyst for further financial integration in Europe. In that framework, he is responsible for the Sustainable Finance workstream and hence for the implementation of the Action Plan adopted on 8 March 2018. In addition, he deals with specific financial markets legislation including MiFID/R (Directive and Regulation on Financial Instruments); EMIR (Regulation on Derivatives); CCPs (recovery and resolution); MAD/R (Market Abuse Directive and Regulation); Asset Management including AIFMD, UCITS and EUVECA. From 2012 Ugo Bassi has worked as Director, in charge of coordination of legal matters and economic analysis within DG FISMA. He also managed specific topics such as the Accounting Directive and related issues, Company Reporting, Audit and Credit rating agencies. Moreover, he has worked to eliminate barriers to capital flows as well as enforcement of all financial services legislation. Between 2006 and 2012, he has held various management positions and was involved in negotiations on some key files in response to the financial crisis, prior to which he worked in public procurement, including the successful adoption of the Defence Procurement Directive. A lawyer by profession, Ugo Bassi worked as “referendaire” in the Court of Justice before joining the European Commission and he has worked in private sector law firms before taking up service within the European Institutions.

 

Juri Mara (Financial Economist Officer, European Commission, DG FISMA)

Juri Mara (Italy, 1980) holds a master’s degree in engineering from Politecnico di Milano (Italy, 2004), a master’s degree in Insurance and Risk Management from the MIB School of Management (Italy, 2005) and is Chartered Financial Analyst (CFA) chart-holder since 2013. He joined the European Commission DG FISMA in 2015 and has worked on important policy files like the Call for Evidence and more recently Sustainable Finance. Before this appointment he has worked for 10 years in the financial sector in France and Belgium including public and private banks, insurance company and credit rating agency.

     

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