Great attendance to the event Bank resolution in times of Covid-19
The interdisciplinary Academic Event on ‘Bank resolution in times of COVID-19’, jointly organised by the Single Resolution Board and the Florence School of Banking and Finance (European University Institute), took place on Friday, 27 November 2020 as an online event. Papers from different disciplines were presented and discussed by high-level academics and policymakers.
Covid-19 times are ‘an exceptional period of our existence’ and these uncertain circumstances force us to ask ourselves, in the words of Professor Bart Joosen (VU University Amsterdam and Recofise), ‘whether banks will be sufficiently resilient to absorb these new blows or whether a new period will dawn in which banks will get into difficulties’. Only time will tell what the future reserves for banks in this exceptional period. Despite this uncertainty, important research contributions have been made, which have enriched the policy debate and the academic exchange.
The event covered economic, legal and public policy topics of bank resolution in COVID-19 times, including a proposal for a temporary reform of the precautionary recapitalisation tool, the progressively important role of deposit guarantee schemes within the bank crisis management, the removal of regulatory barriers to cross-border banking to progress on banking integration and to protect financial stability, and the increasingly ability of banks to absorb losses since the 2007-2009 financial crisis.
We were delighted to host and co-organise such a stimulating event!