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Securitisation Regulation and Practice Online Course

Third edition: 25 October – 14 November 2021

Registration closed

For information contact jan.trevisan@eui.eu

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  • This Online Academy by the Florence School of Banking and Finance has the objective to provide participants with a comprehensive knowledge of securitisation, looking at both the regulatory and practical aspects.

    Why an Online Academy?

    In the Online Academy format, you will be guided in the topics from a group of leading academic and policy experts, who will convey their expertise in a series of audio-visual material in multiple formats.

    You will approach the academy content through a series of self-paced video lectures and live online classes, which will offer multiple occasions for ‘hands-on’ activities, including quizzes, exercises in breakout rooms, forum interactions with the other participants, as well as a simulation exercise on NPL securitisation.

    The Academy will require 22 hours to be completed.

  • Learning objectives

    After having completed this online course, participants will be able to:

    • Identify the structures, types and main actors of securitisation
    • Analyse the potential risks that could arise in securitisation
    • Review the international regulatory framework on securitisation by defining the main actors, practices and challenges
    • Illustrate the main components of the European Union regulatory framework of securitisation
    • Compare the role and functions of supervisors in the EU and in the US
    • Address the rules on capital relief for originator banks and insurance companies and address the upcoming regulatory evolutions
    • Discuss the capital requirements for banks and insurers investing in securitisation positions
    • Review the practical experiences of SMEs with securitisation
    • Analyse the current trends with securitisation in NPLs and apply the theory on a practical scenario
    • Theorise the role of securitisation in fostering green finance
  • Course Director

    Bart Joosen (VU University Amsterdam and Recofise) is trained as civil law lawyer at Tilburg University. He obtained his (equivalent to) LL.M degree in 1987. After completion of his academic study he was appointed as lecturer in the law faculty of Tilburg University in 1987. He successfully defended his dissertation on “Transfer of undertakings in bankruptcy” at Tilburg University and was promoted to doctor in law science (PhD) in 1998. He works since 1992 in private practice particularly for financial market clients. His main areas of expertise are in the field of financial services supervision with a focus on micro-prudential supervision of banks (including in-depth Basel II/Basel III and Solvency II knowledge), insurance companies and investment firms and payment services. Besides working in private practice, he is an extraordinary professor Financial Supervision Law at the VU University in Amsterdam.

    Academy Instructor

    Anna Bak (AFME) is a Associate Director, Securitisation Division at The Association for Financial Markets in Europe (AFME) where she is leading AFME work stream on Green Securitisation and application of the ESG principles to securitisation. Anna is also responsible for developing positions on a wide variety of other securitisation related topics. Anna joined AFME in February 2014 to work at the Securitisation Division. She is involved in negotiating industry standpoints on many critical regulatory initiatives, including calibration of the Basel capital and liquidity rules, Solvency 2 rules, derivatives and transparency rules as well as establishing “simple transparent and standardised securitisation” under the European securitisation framework. Earlier in her career Anna was a transaction lawyer in Amsterdam. Previously, she worked at TMF Group and later at Citco where she spent 6 years working on variety of ABS transactions, including RMBS, SME and auto-loans structures. Anna holds an LL.M degree from the University of Utrecht (the Netherlands) with specialisation in European Law and a Master of Law degree from the University of Lodz (Poland).

    Patrizia Canziani (Structured Finance Professional) is a structured finance professional with more than twenty years’ experience in capital markets, credit and structured finance at JPMorgan, Deutsche Bank, Merrill Lynch, Nomura and MUFG. Mrs. Canziani is Non-Executive Director and member of the Risk and related parties committee for listed company Sogefi, a world leader in design and manufacturing of car components. Experienced in sustainability, she holds a certificate in Sustainable Finance from Oxford University, Smith School of Enterprise and the Environment. She is also a financial crime risk consultant and bank monitor. Mrs. Canziani holds a a PhD in Economics from MIT and 14 internationally refereed publications in labour-macroeconomics, pension sustainability and fiscal rules.

    Boudewijn Dierick is the Managing Director and country officer for auxmoney investments ltd, where he is leading the local team. He joined from BNP Paribas, where he was head of ABS markets in the Securitised Product Group based out of London. He helped many clients setting up Covered bonds, ABS, RMBS and other funding facilities. The team won various Covered bonds and ABS awards from Global Capital and IFR. Before BNPP, he was a director in the Securitisation team at UBS which he joined after working as Senior Analyst at Moody's in Paris rating Covered Bonds, RBMS and ABS transactions in EMEA. Boudewijn started his career at ING in Amsterdam. He has a Masters' Degree in Finance from Vrije Universiteit in Amsterdam. He is the Chairman of the European Covered Bond Council (ECBC).

    Mira Lamriben (EBA) joined the EBA in January 2014 where she held positions as an economist in Impact Analysis and as a policy expert in Own Funds regulation. She is now part of the Capital Market Union team where she is involved in the implementation of the Securitisation Regulation (including EBA work on Significant Risk Transfer and STS securitisations) and in the monitoring of the development of Green bonds. Before joining the EBA, Mira worked as an economist at the Banque de France in the area of banking studies and risk analysis. She delivered various analysis of the development of the EU and the French banking sector and had a specific focus on liquidity risk. Mira holds a Master in Public Affairs and Economics from the Paris Institute of Political Studies (Science Po) and a Master of Laws from the University of Paris (La Sorbonne).

    Jean Jacques van Helten (EUI FBF) is a Visiting Fellow at Robert Schuman Centre for Advanced Studies’s Florence School of Banking and Finance, part of the European University Institute. He is formerly Chief Risk Officer, Europe for the Bank of Montreal (BMO) Financial Group. Previously, he ran credit and market risk in the CBA’s institutional bank in Sydney and he has worked variously in a range of senior executive risk and capital markets business roles in major investment banks in Europe, Australia and the UK.

    Teaching Associate

    Vasiliki Yiatrou is a Phd researcher at the European University Institute. Her research focuses on the measures tackling non-performing loans (NPLs). She explores the way the regulatory response to NPLs, which remains largely disconnected from private law, affects, and is affected by the latter. Vasiliki is a qualified legal practitioner. Between 2012 and 2019, she worked as a litigation lawyer in Cyprus, specialising in financial and consumer law. Vasiliki holds an LLB (first class) from the University of Southampton and an LLM (with distinction) from King’s College of London.

  • FBF Team

    Pierre Schlosser – Course advisor
    Pierre Schlosser is the Scientific Coordinator of the Florence School of Banking and Finance, an executive education and policy debate programme for financial stability professionals which forms part of the Robert Schuman Centre at the European University Institute. Pierre holds a Ph.D in political and social sciences (European University Institute, Florence, 2016), a postgraduate master degree in EU economic studies (College of Europe, Bruges, 2008) and a master’s degree in economic governance (Sciences Po Paris, 2007). His main research interests encompass fiscal surveillance, financial stability and banking regulation, supervision and resolution. Previously, Pierre worked for 5 years for EURELECTRIC, the Brussels-based European energy industry association. Prior to that, he worked as a stagiaire in the European Commission’s DG ECFIN. He is the author of Europe's New Fiscal Union (Palgrave Macmillan, 2019).

    Jan Trevisan – Course designer
    Jan Trevisan is the Online Training Officer at the Florence School of Banking and Finance, a platform for banking regulation and supervision in the European Union, part of the Robert Schuman Centre for Advanced Studies at the European University Institute. Previous work positions include Communications Officer at the EUI, where he managed the outreach and organisation of numerous high-profile institutional and academic events, and junior researcher at the Fondazione ENI Enrico Mattei’s International Center for Climate Governance and the Euro-Mediterranean Center on Climate Change, where he led an online dissemination initiative. Jan holds a MA in International Relations from Ca’Foscari University of Venice, a postgraduate master in Diplomacy and International Relations from the University of Florence, and a certificate in Instructional Design from the University of California (Irvine).

  • Target audience

    Held at introductory/intermediate level the course has been designed for public and private sector professionals (both at entry and mid-career levels). Organisations trained in the previous edition of the course and other FBF online courses include:

    • Finance Ministries
    • Banking Regulators and Supervisors
    • Financial Regulators Supervisors
    • Central Banks
    • Development and Multilateral Banks
    • National, European and international institutions
    • Banks
    • Law Firms
    • Investment funds
    • Consultancies
    • Insurance companies
    • Research centres and universities

    This course is open to participants from all over the world.

    Technical Pre-requisites

    To join the live classes you will need to have the Zoom software installed on your computer and a webcam/microphone.

  • Structure

    The course is structured in seven modules:

    • Module 0: Introduction to the course
    • Module 1: Securitisation as financial engineering: logic, nuts and bolts
    • Module 2: Evaluation of Risks and the Crisis
    • Module 3: Regulatory framework for regulation and supervision of securitisation
    • Module 4: Prudential regulation of securitisation transactions
    • Module 5: Dealing with securitisation products on the market
    • Module 6: Securitisation of NPLs
    • Module 7: Exercise on NPLs
    • Module 8: Green Securitisation

  • Classes' schedule

    • Kickoff session
      Monday 25 October 2021, 12:00 – 1:00 PM CET
    • First live session – The basics of Securitisation
      Friday 29 October 2021, 11:00 – 1:00 PM CET
    • Second live session – Regulation and market practice
      Friday 5 November 2021, 12:00 – 2:00 PM CET
    • Third live session – Case study: NPL securitisation
      Friday 12 November 2021, 12:00 – 2:00 PM CET
    • Fourth live session – Option 1, Green Securitisaiton
      Tuesday 16 November, 12:00 – 1:30 PM CET
    • Fourth live session – Option 2, SRT
      Tuesday 16 November, 1:30 – 3:00 PM CET

  • Mandatory activities

    To receive the certificate of succesfull completion, course participants will have to complete a set of mandatory activities, as described here.

    The estimated time required to complete all activities in the course is approximately 20 hours (depending on individual prior knowledge).

  • 1.100€ - Public Authorities - e.g. National Competent Authorities, Central Banks and European Institutions.

    1.200€ - Private Sector

    850€ - Academics (Full-time Professors, full-time PhD Students and full-time Research Associates).
    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 and assigned by the FBF secretariat on a case-by-case basis.

    Please note that the payment must be settled two weeks before the start of the course.


    FEE WAIVERS

    A few fee waivers are available to outstanding candidates applying from, and resident in, low-income and lower-middle-income economies (as set by the World Bank) in the Americas, Africa and Asia.

    The deadline for applying for a fee waiver is October 1st, 2021.
    To apply for a scholarship, send your CV and a cover letter to the course secretariat at fbf@eui.eu


    CANCELLATION POLICY

    • In case a course is cancelled, registered participants will receive the full refund.
    • In case a course is moved to another date, registered participants may request a voucher to attend another FBF course.
    • Registered participants who have not yet paid the registration fee can cancel their participation until one month before the start of the course.
    • The registration fee is non-refundable, however it will be possible to transfer registration to another person or request a voucher for another FBF course up to 20 days before the start date of the course.

    For more details, please contact fbf@eui.eu

Securitisation: Regulation and Practice brochure

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