Past Event

The Single Resolution Mechanism and the limits of bank regulation

A key element of the EU Banking Union is on the political Agenda: The Single Resolution Mechanism. The new authority will touch complicated and sensible legal, regulatory and political dimensions. It raises severe questions on legitimacy,institutional setting, funding and political influence. Missing democratic legitimation in past financial crisis decisions, we need a public debate on […]

Date: November 8, 2013, 9:00 am

A key element of the EU Banking Union is on the political Agenda: The Single Resolution Mechanism. The new authority will touch complicated and sensible legal, regulatory and political dimensions. It raises severe questions on legitimacy,institutional setting, funding and political influence. Missing democratic legitimation in past financial crisis decisions, we need a public debate on essential regulatory initiatives. Change in mind, governance and adequate financial regulation can only come from having this ongoing debate. Bringing together academics, regulators,politicians and industry experts, we will stimulate the discussion on the design of the Resolution Authority, the impact of regulatory policy and the responsibility of financial institutions. For this, the conference gives an inspiring opportunity.

The event is organised jointly by:

  • Institute for Bank- and Capital Market-Law at Humboldt-University Berlin
  • Centre for European Economic Research (ZEW)
  • Bruegel
  • Financial Risk and Stability Network

Speakers

  • Keynote – Jörg Asmussen, Executive Board, European Central Bank
  • Keynote – Ramon Fernandez, Director General, French Treasury
  • Keynote – Dr. Thomas Steffen, State Secretary, Federal Ministry of Finance
  • Ralph Brinkhaus, CDU Parliamentary Group
  • Prof. Jean-Pierre Danthine, Swiss National Bank Ramon Fernandez, French Treasury
  • Prof. Clemens Fuest, Centre for European Economic Research
  • Dr. Korbinian Ibel, Commerzbank AG
  • Ingo Mandt, Landesbank Baden-Württemberg
  • Marco Mazzucchelli, Bank Julius Baer
  • Mario Nava, DG Internal Market, European Commission
  • Carsten Schneider, SPD Parliamentary Group
  • Dr. Thomas Steffen, Federal Ministry of Finance
  • David Vegara, European Stability Mechanism
  • Nicolas Veron, Bruegel
  • Dr. Pierre Wunsch, National Bank of Belgium
  • and other Experts…

Event materials

Programme

8:15 Registration

09:15 Welcome & Opening

  • Martin Aehling, Financial Risk and Stability Network

09:30 Welcome Address

  • Marie-Thérèse Duffy-Häusler, Acting Head of the Representation of the European Commission in Germany

09:40 Opening Remarks – Banking Union: Balancing European Integration and National Responsibility

  • Prof. Dr. Dr. Dr. h.c. LL.M. Christian Kirchner, Humboldt University of Berlin

09:50 Keynotes – In Search for Relief: A new Framework for Recovery and Resolution

  • Ramon Fernandez, Director General, French Treasury
  • Dr. Thomas Steffen, State Secretary, Federal Ministry of Finance
  • Dr. Mario Nava, Director Financial Institutions, European Commission

10:45 Discussion

How should the Single Resolution Mechanism evolve?
How centralized should Bank Resolution be organized?
Who should bear the Burden of Bank Resolution?

  • Ramon Fernandez, French Treasury, Ministry for the Economy and Finance
  • Elisa Ferreira, Member of the European Parliament
  • Dr. Korbinian Ibel, Commerzbank AG
  • Dr. Mario Nava, DG Internal Market, European Commission
  • Dr. Thomas Steffen, Federal Ministry of Finance
  • Moderation: Dr. Guntram Wolff, Bruegel

11:30 Talk of Experts – Banks in Distress: What to do? The Role of the Single Resolution Mechanis

Recapitalisation
Governance and Recovery Plans
Bail-in and Restructuring

  • Thomas von Lüpke, Federal Agency for Financial Market Stabilisation
  • Prof. Dr. Isabel Schnabel, University Mainz
  • Dr. Bernhard Speyer, Deutsche Bank Research
  • David Vegara, European Stability Mechanism
  • Dr. Pierre Wunsch, National Bank of Belgium
  • Moderation: Prof. Dr. Kern Alexander, University of Zurich

12:15 Lunch

13:30 Presentation – Reforming the EU Banking System: a Progress Report

Assessing the new Regulatory Framework
The Case for Structural Reforms: Focus versus Diversification
The new EU Financial Order

  • Marco Mazzucchelli, Bank Julius Baer; Liikanen High-Level Expert Group

14:15 Discussion – Limits of Bank-Regulation and the Political Nexus

Banks, Sovereign Debt and Consequences
The Context of Supervision and Resolution
Banking Consolidation in the European Union

  • Ralph Brinkhaus, CDU-Member of Deutscher Bundestag
  • Prof. Dr. Henrik Enderlein, Hertie School of Governance
  • Dr. Gerhard Schick, Bündnis 90/Die Grünen-Member of Deutscher Bundestag
  • Dominik Treeck, Oliver Wyman
  • Nicolas Véron, Bruegel
  • Moderation: Sven Böll, Der Spiegel

15.00 Coffee break

15:30 Keynote – Banking Union: A View from the European Central Bank

  • Jörg Asmussen, Executive Board, European Central Bank

16:15 Panel – Crisis Prevention and today’s Regulatory Settings

Eurozone Crisis: Can the Banking Union help?
Regulatory Reforms: But what?
Eurozone and the Rest of the World: Circle the Wagons

  • Prof. Dr. Clemens Fuest, Centre for European Economic Research
  • Prof. Dr. Jean-Pierre Danthine, Swiss National Bank
  • Ingo Mandt, Landesbank Baden-Württemberg
  • Carsten Schneider, SPD-Member of Deutscher Bundestag
  • Moderation: Prof. Dr. Reint Gropp, Goethe University Frankfurt

17:15 Closing Remarks & Farewell

  • Martin Aehling, Financial Risk and Stability Network

17.30 Get together – Wine bar

Practical details

Venue: Humboldt-University, Fritz-Reuter Saal, Dorotheenstraße 24, 10117 Berlin-Mitte Berlin
Date: Friday 8 November 2013, 9:00 – 17:30
Contact: Martin Aehling, Financial Risk and Stability Network, martin.aehling[at]frsn.de

Topics

Read about event More on this topic

Upcoming Event

23 
Feb
2016
09:00

How to improve national insolvency regimes

How can we reduce divergencies in national corporate insolvency regimes in order to create an integrated Capital Markets Union?

Speakers: Paul McGhee and Nicolas Véron Topic: Finance & Financial Regulation Location: Bruegel, Rue de la Charité 33, 1210 Brussels
Read about event More on this topic

Upcoming Event

25 
Feb
2016
10:00

Stock taking of the ongoing bank crisis resolution in Europe

What progress is being made on an optimal system of bank resolution following the disasters of the financial crisis?

Speakers: Ignazio Angeloni, Hans Jörg Schelling, Emiliano Tornese, Andreas Treichl, Nicolas Véron and Harald Waiglein Topic: Finance & Financial Regulation Location: Federal Ministry of Finance, Johannesgasse 5, 1010, Vienna
Read article More on this topic More by this author

Opinion

Ashoka Mody

The market's troubling message

Amid one of the worst market routs on record, a chorus of reassuring economic commentators insists that global fundamentals are sound and investors are overreacting, behaving like a panicked herd. Don’t be so sure.

By: Ashoka Mody Topic: Finance & Financial Regulation Date: January 30, 2016
Read about event More on this topic

Past Event

Past Event

Impact of regulatory and supervisory reform on the banking sector

In the framework of our 10th anniversary celebrations, Bruegel is organising a series of events in the capitals of our member states. These debates, talks and conferences will bring crucial European topics to audiences across the continent. One year after a major overhaul of European banking regulation and supervision, the National Bank of Belgium and […]

Speakers: Luc Coene, Mathias Dewatripont, Olivier Hamoir, Dominique Laboureix, Dirk Schoenmaker, Johan Thijs, Erik van der Plaats, Guntram B. Wolff and Diederik van Wassenaer Topic: Finance & Financial Regulation Location: Rue Montagne aux Herbes potagères 61, Brussels Date: January 28, 2016
Read about event

Past Event

Past Event

The Bank of England in Europe: Does EU membership constrain non-Euro central banks?

The ECB and its response to crises in the euro area have been in the spotlight recently. But how does EU membership affect the central banks of non-Euro member states? This question is especially pertinent in the UK, whose relationship with the EU is at a vital crossroads.

Speakers: Jon Cunliffe, Matt Holmes, Sheri Markose and Guntram B. Wolff Topic: European Macroeconomics & Governance, Finance & Financial Regulation Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: January 22, 2016
Read article More on this topic More by this author

Opinion

Guntram B. Wolff

Getting eurozone deposit insurance right promises benefits

EU-wide security of savings must be considered in order to take banking union seriously. Banks' holdings of government bonds must be limited.

By: Guntram B. Wolff Topic: Finance & Financial Regulation Date: January 5, 2016
Read article More on this topic More by this author

Blog Post

Bennet Berger

Non-performing loans in Italy and selected European countries

Vulnerabilities in the Italian banking system are causing fears of a banking crisis to surface.

By: Bennet Berger Topic: Finance & Financial Regulation Date: December 18, 2015
Read article

Blog Post

Christopher Gandrud
Mark Hallerberg

Opaque Europe: financial supervisory transparency, why it’s important, and how to improve it

“Financial supervisory transparency” has been on the agenda of international financial institutions for some time. It concerns the public availability of data supervisors have on the financial industry. Using a new measure of data reporting to international financial institutions like the IMF and World Bank, we show that financial supervisory transparency is particularly lacking in Europe. We make recommendations for EU institutions to improve it.

By: Mark Copelovitch, Christopher Gandrud and Mark Hallerberg Topic: Finance & Financial Regulation Date: December 11, 2015
Read article Download PDF More on this topic

Policy Contribution

Financial regulatory transparency: new data and implications for EU policy

Financial regulatory transparency: new data and implications for EU policy

This paper introduces a new international financial regulatory data transparency index - the Financial Regulatory Transparency (FRT) Index - in order to address the exisiting gap in measuring regulatory transparency.

By: Mark Copelovitch, Christopher Gandrud and Mark Hallerberg Topic: Finance & Financial Regulation Date: December 10, 2015
Read article Download PDF More by this author

Parliamentary Testimony

Private: EU Endorsement of the IFRS 9 Standard on Financial Instruments AccountingEuropean Parliament

EU Endorsement of the IFRS 9 Standard on Financial Instruments Accounting

Statement prepared for the European Parliament’s ECON Committee Public Hearing of 1 December 2015

By: Nicolas Véron Topic: European Parliament, Finance & Financial Regulation, Parliamentary Testimonies Date: December 1, 2015
Read article Download PDF More on this topic

Working Paper

Macroprudential supervision: from theory to policy

Macroprudential supervision: from theory to policy

While there is now consensus that financial supervision has to focus on the aggregate (macroprudential), in addition to the individual (microprudential), there is no agreed macroprudential framework for measuring financial imbalances and applying policies to correct such imbalances. This paper focuses on these two open questions in the so-called time dimension of macroprudential policy.

By: Dirk Schoenmaker and Peter Wierts Topic: Finance & Financial Regulation Date: November 25, 2015
Read article More on this topic More by this author

Opinion

Guntram B. Wolff

Europäische Einlagensicherung: Deutschland würde profitieren

Wer ernsthaft die Bankenunion will, kommt um die EU-weite Sicherung der Sparguthaben nicht herum. Es braucht Obergrenzen, wie viele Staatsanleihen Banken halten sollen.

By: Guntram B. Wolff Topic: Finance & Financial Regulation Date: November 25, 2015
Load more posts