Online Debate: SSM supervisory measures in the context of the COVID-19 pandemic
The banking sector is at the crossroads to mitigate the adverse economic effects of the current COVID-19 pandemic. While banks were in turmoil during the last financial crisis, this time they may prove instrumental in coping with the COVID-economic aftermath by sustaining their intermediary role in the real economy. In the euro area, the European Central Bank (ECB) adopted measures in its supervisory competence to ensure banks fulfil their lending role to households and businesses. The ECB adopted supervisory measures on temporary capital and operational relief, with the relaxation of some buffers e.g. allowing banks to go below the Pillar 2 Guidance (P2G), the Capital Conservation Buffer (CCB) and the liquidity coverage ratio (LCR) or adapting the composition of capital for Pillar 2 Requirements (P2R). The ECB also introduced flexibility regarding the treatment of non-performing loans (NPLs), as well as recommended the adoption of transitional IFRS 9 rules, amongst others. Against this background, this online seminar will dive into those supervisory measures and discuss the implications of temporary measures for supervisors and banks.
Add to Calendar
May 28, 2020 @ 1:00 pm – 2:15 pm Europe/Rome Timezone
+39 055 4685984
Watch the recording
ModeratorElena 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.
SpeakersEdouard Fernandez-Bollo,ECB Supervisory Board
Member of the Supervisory Board at the European Central Bank
Thorsten Beck, Cass Business School
Thorsten Beck joined the Faculty of Finance in September 2013 as professor of banking and finance. Since 2008 he has been professor of economics at Tilburg University in the Netherlands and was the founding chair of the European Banking Center from 2008 to 2013. He is also a research fellow of the Centre for Economic Policy Research (CEPR). Previously he worked in the research department of the World Bank and has also worked as consultant for – among others – the IMF, the European Commission, and the German Development Corporation.
Til Schuermann, Partner and Co-Head of Oliver Wyman’s Risk & Public Policy practice in the Americas.
Til Schuermann advises private and public sector clients on stress testing, capital planning, enterprise-wide risk management, model risk management and corporate governance including board oversight. He participated in the stress testing of the Spanish (2012) and Slovenian (2013) banking systems, and the European Central Bank’s Comprehensive Assessment in 2014. In 2016 Til conducted an assessment of the Bank of England’s stress testing program for the IMF, and recently supported the UN in a global project of estimating the impact of climate risk on banks.Til also is a member of the Federal Reserve Bank of New York’s Financial Advisory Roundtable. Until March 2011, Til was a Senior Vice President at the Federal Reserve Bank of New York where he held numerous positions, including head of Financial Intermediation in Research and head of Credit Risk in Bank Supervision. In Spring 2009, he played a leadership role in the design and execution of the Supervisory Capital Assessment Program (SCAP – bank stress test), and the subsequent Comprehensive Capital Analysis and Review (CCAR) programs.He has numerous publications in both academic and practitioner journals, is on the FRM exam committee for GARP, a member of the advisory board of the NYU Courant Institute Mathematical Finance program, and has taught at Columbia University and at the Wharton School where he is a Research Fellow.Til received a Ph.D. in Economics from the University of Pennsylvania.