The banks and the market – Lecture by Sabine Lautenschläger
15 March 2018 – Palazzo Incontri, Florence Italy
In her speech, Sabine Lautenschläger argues that, in a well-functioning banking sector, banks must be able to fail. It is key, however, that they can do so in an orderly manner without destabilizing the entire banking system. Against that backdrop, Ms Lautenschläger discusses the role of the supervisor within the European framework for bank resolution. She also sheds light on the importance of the upcoming European stress test for supervisors’ assessments of banks’ resilience.
Member of the Executive Board & Vice-Chair of the Supervisory Board of the European Central Bank
Sabine Lautenschläger, born in 1964, studied law in Bonn. After passing the second state examination in law, she joined the Bundesaufsichtsamt für das Kreditwesen (BAKred – Federal Banking Supervisory Office), which later became the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin – Federal Financial Supervisory Authority). In the course of her career at BAKred/BaFin, she held several management positions before being appointed BaFin’s Chief Executive Director of Banking Supervision in 2008. Later, in 2011, she additionally was Member of the Management Board and Board of Supervisors of the European Banking Authority (EBA) in London. In 2011 Sabine Lautenschläger moved to the Deutsche Bundesbank, serving as Vice-President until January 2014 when she was appointed to the Executive Board of the European Central Bank. As Member of the Executive Board she is also Member of the Governing Council which is responsible for the Monetary Policy in the Euro Area. Since her appointment as Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism (SSM) in February 2014, she has also been in charge of ECB Banking Supervision. She represents ECB Banking Supervision in the Basel Committee on Banking Supervision and in the Financial Stability Board Plenary.
16:35 | Opening remarks by Giuseppe Morbidelli (President, Fondazione CESIFIN Alberto Predieri)
16:40 | Presentation of the FBF and the speaker by Elena Carletti (Scientific Director, Florence School of Banking and Finance)
16:45 | Lecture by Sabine Lautenschläger (Member of the Executive Board and Vice-Chair of the Supervisory Board of the ECB): ‘The banks and the market’
17:30 | Questions and answers with the public, moderated by Emilio Barucci (Full professor of Financial Mathematics, Polytechnic University of Milan)
18:00 | Closing remarks by Vincenzo Grassi (Secretary General, European University Institute) and Giuseppe Rogantini-Picco (Member of the Board, Fondazione CR Firenze)
18:10 | Cocktail for all participants
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