Financial stability, macro-prudential and resolution
Macroprudential Policy Implementation Academy
Home - Macroprudential Policy Implementation Academy
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21/10/2024 - 14/11/2024
Location
EUI Premises in Florence and Online
Download the programme
Registration Deadline
17/10/2024
Level
Intermediate
Approach
Qualitative
Delivery mode
Blended
Safeguarding the stability of the financial system requires more than a sound and thorough supervision of single financial institutions. The Global Financial Crisis has indeed revealed that the mere reliance on micro-prudential policy tools could lead to looming systemic risks being missed or ignored. The general recognition of this gap in surveillance led to the accelerated implementation, throughout the world, of macroprudential policies.
Against this background, this course will first introduce the key objectives of macroprudential policy as well as the use and interaction of their instruments in the European and global context. It will then engage in more details with the implementation and use of selected macroprudential instruments (e.g. the countercyclical capital buffer, systemic risk buffers, instruments for the real estate sector, liquidity instruments). Based on their expertise in the field, the course instructors will lastly expose participants to the lessons learned from the implementation of macroprudential policies and set out the need for tools for non-banking financial sector.
- Gain an overview of the type, scope and use of macroprudential instruments
- Become familiar with the institutional framework, objectives and instruments of macroprudential policy in the European Union
- Learn to apply certain macroprudential instruments in real-life cases
- Understand calibration dilemmas
- Become exposed to lessons learned of macroprudential policy
- Draw conclusions from past experiences for the non-bank financial sector
Course directors
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Thorsten Beck
Director
Florence School of Banking and Finance
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Tuomas A. Peltonen
Deputy Head of the Secretariat
European Systemic Risk Board (ESRB)
Core Faculty
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Emily Beau
Adviser
ESRB Secretariat
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Katarzyna Budnik
Adviser
Stress Test Modelling Division, ECB
-
Barbara Jarmulska
Senior Financial Stability Expert
Macroprudential Policies Division, ECB
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Etienne Lepers
Economist
International Finance Unit, OECD
-
Olaf Weeken
Adviser
ESRB Secretariat
Online instructors
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Marco Lo Duca
Adviser
Macroprudential Policies Division, ECB
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Jérôme Henry
Principal Adviser
DG Macroprudential Policy & Financial Stability, ECB
-
Paul Hiebert
Head of Division
Systemic Risk and Financial Institutions Division, ECB
-
Michael Wedow
Deputy Head of Division
Financial Regulation and Policy Division, ECB
Monday, 21 October – Online
9:00 Opening of the online platform. Access to Modules 1, 2 and 3.
Module 1: Objectives and Concepts of Macroprudential Policy
Module 2: Capital-based macroprudential instruments
Module 3: Liquidity instruments and systemic liquidity
Wednesday, 6 November – EUI Premises, Florence
10:00 – 17:30 Modules 4, 5 and 6
Module 4: Actors of Macroprudential Policy
Module 5: Capital-based macroprudential instruments
Module 6: Macroprudential instruments for real estate
17:30 (Optional) Social activity
Thursday, 7 November – EUI Premises, Florence
9:30 – 17:30 Modules 7 and 8
Module 7: Impact of Macroprudential Policies
Module 8: Cross-Border spill-overs of macroprudential policy
18:00 – 19:00 Cocktail
19.00 – 21.00 Dinner at the venue (Sala Bandiere)
Friday, 8 November – EUI Premises, Florence
9:00 – 13:00 Modules 9 and 10
Module 9: The non-banking financial sectors and macroprudential policy beyond banking
Module 10: Macroprudential stance
13:00 – 14:00 Light lunch
Friday, 15 November – Online
12:30 . 13:30 Closing lecture and roundtable discussion
- € 2300 – Private Sector
- € 1950 – Public Authorities (e.g. National Competent Authorities, Central Banks) and European Institutions
- € 900 – Full-Time Professors, PhD Students, Research Associates
The fee includes tuition, access to all course materials and pedagogic activities, coffee and lunch breaks and social activities. It does not include travel and accommodation expenses or other local transportation costs (taxis, private cars).
Please submit a certificate attesting your status of Professor, PhD Student or Research Associate to fbf@eui.eu before registering. FBF secretariat will provide you with a code to register. Seats for academics are limited.
Please note that the payment must be settled one week before the start of the course.
A certificate of attendance will be provided to all participants after the course.
CANCELLATION POLICY
- In case you can no longer attend the course, you are required to inform the organisers by sending an email to fbf@eui.eu in order to free a seat for participants in the waiting list.
- In case of frequent cancellations, FBF reserves the right not to accept further registrations from the same person.
For more details, please contact fbf@eui.eu
Accommodation
Participants are responsible for their own accommodation during their stay in Florence. Below are some hotels that are conveniently located either for the city centre or for the course venue.
Florence Historic Centre – Santa Maria Novella Train Station area
- Grand Hotel Minerva, Piazza Santa Maria Novella 16, Firenze, ph. +39 055 27230, booking@grandhotelminerva.com
- Hotel Garibaldi Blu, Piazza di Santa Maria Novella, Firenze, ph.+39 055 277300, booking@wtbhotels.com
- Hotel L’Orologio, Piazza Santa Maria Novella 24, Firenze, ph. +39 055 27 73 80, booking@wtbhotels.com
- Hotel Lungarno, Borgo S. Jacopo 14, Firenze ph. +39 055 27261, bencini@lungarnocollection.com
- Hotel Rosso 23, Piazza di Santa Maria Novella 23, Firenze, ph.+39 055 277300, booking@wtbhotels.com
- Hotel Santa Maria Novella, Piazza di Santa Maria Novella, Firenze, ph.+39 055 271840, booking@wtbhotels.com
- Portrait Hotel, Lungarno degli Acciaiuoli 4 Firenze, ph. +39 055 2726 8000, bencini@lungarnocollection.com
Florence Centre – Piazza della Libertà area
- Hotel Cellai, Via 27 Aprile 14, 52/R, Firenze, ph. +39055489291, customer.service@hotelinfirenze.com
- Hotel San Gallo Palace, Via Lorenzo il Magnifico 2/4, Firenze, ph. +39055463871, infosangallo@allegroitalia.it
- Hotel il Guelfo Bianco, Via Cavour 29, Firenze, ph. +39055288330, info@ilguelfobianco.it
- Hotel de La Pace, Via Alfonso la Marmora, 28, Firenze, ph. +39055577343, info@hoteldelapace.com
- The Social Hub, Viale Spartaco Lavagnini, 70 – 72, 50129 Florence, +38055 062 1855, florence@thesocialhub.com
- Palazzo Castri, Piazza della Indipendenza, 7, 50129 Firenze, ph. +39055 472118, welcome@palazzocastri.com
Fiesole (closer to the European University Institute)
- Villa La Stella, Via Iacopone da Todi 12, Firenze, ph. +39 055 5088018, info@villalastella.it
- Hotel Villa Fiesole, Via Frà Giovanni da Fiesole Detto l’Angelico, 35, Fiesole, +39 055 597252, info@villafiesole.it
How to reach the seminar venue
- From Florence airport (approximately 1 hour by public transportation, 25/30 minutes by taxi).
Florence airport is located 8 km from the city centre.
Taxis can be found outside the arrival terminal and no reservation is needed: the cost of a 25/30 minute ride is approximately € 30.
As a general note, it is also possible to request a taxi by calling one of the following numbers: (+39) 055 4390 / 4499 / 4242 / 4798 or using the app itTaxi. Kindly note that in Italy taxis cannot be flagged down as they pass you along the street. Taxis are instead “stationed” at special taxi parking stands in most of the major squares in any city and at the airport. Please refer to this website for an overview of the taxi fees from/to the airport. Please also note that Uber and Bolt are not available in Florence.
If you wish to reach the course venue from the airport with public transportation, the tramway ride is a convenient option to head to the city centre: tramways have a dedicated airport stop and you should get off at the last stop, “T2-Unità”. From there, please refer to the paragraph below (“From the main railway station”). Tramway tickets cost €1.70 and can be purchased at the vending machines outside the airport: they last 90 minutes and can be used both on tramway and buses.
- From the main railway station (approximately 40 minutes)
Reach the bus stop “Stazione Nazionale”; take bus n.7, direction “Fiesole Piazza Mino”; get off at the bus stop “Di San Domenico 01”; and walk downhill to Villa Schifanoia on Via Boccaccio.
Bus and tram tickets may be purchased digitally by sending a text message with “Firenze” as text to 488.01.05 or by using the Tabnet APP which you can get from the App Store or Google Play. Tickets can also be purchased from official ticket offices, machines and authorized retailers that display the ‘Autolinee Toscane’ sticker. This website provides itineraries for public transportation: https://www.at-bus.it/en/travel/tripplanner.html
- Nearby airports
Pisa International Airport (Galileo Galilei Airport), is located 85 km from Florence. The shuttle Pisa Mover connects Pisa Airport to Pisa Railway Station, and it is in service every day from 6.00 a.m. to midnight with variable frequencies. The average travel time between the airport and the railway station, including the intermediate stop, is about 5 minutes. From Pisa Railway Station it is possible to take a train to Florence Railway Station (average travel time is one hour). Timetable and ticket options are available at Trainline.
Guglielmo Marconi Bologna International Airport is located 105 km from Florence. It is connected to Bologna Central Station by the shuttle train “Marconi Express” that leaves every 7 minutes. Tickets can be purchased on this website. From Bologna Central Station, Florence can be reached with a high-speed train in about 40 minutes. Timetable and ticket options are available at Trainline.
IT information
- Upon arrival, you will be provided with temporary Wi-Fi access for the duration of the event.
- If using your company laptop, please check with your company IT department regarding firewall protections before your departure. EUI uses a Captive Portal authentication to access the EUI Wi-Fi network.
Restaurants
Below you can find a few suggestions on restaurants located in Fiesole or the city centre, which might be useful for your free night(s).
- Osteria di Giovanni – Ph. 055284897
- Coquinarius Firenze – Ph. +39 055 230 2153
- Restaurant Accademia – Ph. +39 055 217343
- Il Vezzo – Ph. +39 055 281096
- Finisterrae – Ph. +39 0552638675
- Coquinarius Fiesole – Ph. +39 055 597 8356
- La Reggia degli Etruschi – Ph. +39 333 355 6126