Past Event

Tackling Europe’s non-performing loans crisis: restructuring debt, reviving growth

How can we connect the different initiatives for NPL resolution and identify an agenda that is shared between EU, national authorities and the private sector.

Date: February 3, 2017, 9:30 am European Macroeconomics & GovernanceFinance & Financial Regulation Tags & Topics

Given a number of initiatives within the ECB, at EU and national level, NPL resolution has moved centre stage in the European policy discussions. Bank restructuring in key euro area countries in the context of the new resolution directive will need to rely on market-based solutions to distressed debt to a much greater extent.

The objective of the event was to connect the different initiatives in the banking, legal and restructuring fields, and to identify an agenda that is shared between EU, national authorities and the private sector.

This event was only open to a small number of selected invitees and Bruegel Members.  The event was held under Chatham House rule.

Read the keynote speech by Vítor Constâncio, Vice-President of the ECB

Schedule

Feb 03, 2017

9.00 – 9.30

Registration

9.30 – 11.15

Session 1: Deleveraging amidst low bank profitability: experiences and agendas

Welcome

Guntram B. Wolff, Director

Chair: Maria Demertzis, Deputy Director

Overview of the issues

Alexander Lehmann, Visiting Fellow

Opening keynote address:

Thomas Wieser, Chair of Economic and Financial Committee and Eurogroup Working Group

Panel discussion

Marco Buti, Director-General, European Commission, DG ECFIN

Inês Drumond, Deputy Head, Financial Stability Department, Bank of Portugal

Giorgio Gobbi, Head of Financial Stability Directorate, Bank of Italy

Boštjan Jazbec, Governor, Bank of Slovenia

Brendan McDonagh, CEO, Nama

11.15 – 11.30

Coffee break

11.30 – 12.45

Session 2: NPL resolution in the banking union: new momentum?

Opening remarks

Sharon Donnery, Deputy Governor, Central Bank of Ireland and Chair of the SSM NPL Task Force

Panel discussion

Arne Berggren, Chairman of the Board Risk Committee, Bank of Cyprus

Ajay Rawal, Partner, Ernst & Young

Carola Schuler, Managing Director, Bank Analytics, Moody’s

Nicolas Véron, Senior Fellow

12.45 – 13.45

Lunch

13.45 – 14.15

Keynote address: “Resolving Europe’s NPL burden: challenges and benefits”

Vítor Constâncio, Vice President, ECB

14.15 – 15.30

Session 3: Attracting investors into distressed debt and restructuring situations

Opening remarks

Julien Wallen, Managing Director, Blackrock

Panel discussion

Chair: Alexander Lehmann, Visiting Fellow

Iker Beraza, Chief Financial Officer, Sareb

John Davison, CEO, KKR/Pillarstone

TJ Lim, Deputy Chief Risk Officer, Unicredit Group

Emanuele Rosetti Zannoni, Managing Director, Cerberus

15.30 – 15.45

Coffee break

15.45 – 17.00

Session 4. Bank restructuring: institutional innovations

Panel discussion

Chair: Dirk Schoenmaker, Senior Fellow

Corso Bavagnoli, Head of Department for Financing of the Economy, French Treasury

John Berrigan, Deputy Director-General, DG for Financial Stability, Financial Services and Capital Markets Union

Piers Haben, Director of Oversight, European Banking Authority

Gert-Jan Koopman, Deputy Director General, European Commission, DG COMP

Reza Moghadam, Vice Chairman for Sovereigns and the Official Institutions, Morgan Stanley

17.00

End

Speakers

Bavagnoli

Corso Bavagnoli

Head of Department for Financing of the Economy, French Treasury

Beraza pic

Iker Beraza

Chief Financial Officer, Sareb

Arne Berggren

Chairman of the Board Risk Committee, Bank of Cyprus

John_Berrigan picture-bio

John Berrigan

Deputy Director-General, DG for Financial Stability, Financial Services and Capital Markets Union

buti-picture

Marco Buti

Director-General, European Commission, DG ECFIN

ECB Board Members - Benoît Cœuré, Mario Draghi, Peter Praet, Sabine Lautenschlaeger, Vitor Constancio, Yves Mersch

Vítor Constâncio

Vice President, ECB

Davison pic

John Davison

CEO, KKR/Pillarstone

MariaDemertzis1 bw

Maria Demertzis

Deputy Director

Donnery pic

Sharon Donnery

Deputy Governor, Central Bank of Ireland and Chair of the SSM NPL Task Force

Drumond pic

Inês Drumond

Deputy Head, Financial Stability Department, Bank of Portugal

Gobbi photo

Giorgio Gobbi

Head of Financial Stability Directorate, Bank of Italy

Piers Haben of the European Banking Authority (EBA), on October 10, 2014 in London, United Kingdom.

For more information about using this image contact Micha Theiner:
T: +44 (0) 7525 627 491
E: micha@michatheiner.com
http:///www.michatheiner.com

Piers Haben

Director of Oversight, European Banking Authority

Jazbec picture

Boštjan Jazbec

Governor, Bank of Slovenia

koopman-photo

Gert-Jan Koopman

Deputy Director General, European Commission, DG COMP

sd-12177-_0028bea2-web

Alexander Lehmann

Visiting Fellow

Lim picture

TJ Lim

Deputy Chief Risk Officer, Unicredit Group

McDonagh pic

Brendan McDonagh

CEO, Nama

picture1

Reza Moghadam

Vice Chairman for Sovereigns and the Official Institutions, Morgan Stanley

Rawal pic

Ajay Rawal

Partner, Ernst & Young

Rosetti Zannoni pic

Emanuele Rosetti Zannoni

Managing Director, Cerberus

Schoenmaker pic

Dirk Schoenmaker

Senior Fellow

Schuler pic

Carola Schuler

Managing Director, Bank Analytics, Moody’s

Julien Wallen

Managing Director, Blackrock

Wieser pic

Thomas Wieser

Chair of Economic and Financial Committee and Eurogroup Working Group

Guntram B. Wolff

Guntram B. Wolff

Director

Location & Contact

Bruegel, Rue de la Charité 33, 1210 Brussels

Matilda Sevón

Matilda Sevon

matilda.sevon@bruegel.org

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Resolving Europe’s NPL burden: challenges and benefits

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