EBI Global Annual Conference on Banking Regulation

February 23-24, 2018

Casino 1.801
Campus Westend
Goethe University Frankfurt

Summary

The first research conference on banking regulation jointly organized by the European Banking Institute (EBI) and the IMFS serves as a platform for bringing together new ideas on banking regulation from the academic side and confront them with practical problems as Thomas Gstädtner, president of the Supervisory Board, and Tobias Tröger, managing director, emphasized in their opening remarks. Among the EBI's academic members, the IMFS is the representative of Goethe University.

In his keynote lecture, Rolf Strauch, chief economist of the European Stability Mechanism (ESM), underlined the need for an intensive debate at this juncture. On the fiscal side, the situation was much better than after the crisis and some national banking sectors have been deeply restructured, he argued. Non-perfoming loans (NPL) were also declining. Nevertheless, according to Strauch, "the European banking sector was lagging behind", being "consistently outperformed by its peers in the US", which were faster in reducing costs and delivered higher returns. Strauch stressed that completing the Banking Union would be important to fix this situation, creating a bigger market.

According to Strauch, the introduction of a European Deposit Scheme (EDIS) and a fiscal backstop for the Single Resolution Fund (SRF) would be the next steps. "The ESM is ready to take up its role as backstop to the SRF", Strauch said. Furthermore, the level of bail-in securities for the Single Resolution Board (SRB) was another step to reduce risk. On the political agenda, a consensus on introducing risk weights on sovereign exposures at the international level had to be reached, Strauch cautioned. In this regard, he referred to a recent proposal to introduce concentration charges on sovereign bonds.

In that sense, completing the Banking Union was one of the main topics of the conference besides the implications of Brexit and the regulation of non-bank banks. In presentations and panel discussions, academics and financial experts exchanged their ideas on further aspects.

Program, February 23, 2018

08:30 - 09:00	Registration and Coffee
09:00 - 09:15	Welcoming remarks and introduction to the European Banking Institute Volker Wieland, Managing Director of the Institute for Monetary and Financial Stability (IMFS) and Goethe University Thomas Gstädtner, President of the Supervisory Board of the European Banking Institute
09:15 - 09:40	Keynote Speech Rolf Strauch, Management Board ESM (Speech)
09:40 - 11:10	First session: Completing the Banking Union 09:40 - 10:30 Chair: Luis D. S. Morais, Universidade de Lisboa and European Banking Institute Danny Busch, Radboud University Nijmegen and European Banking Institute Towards Single Supervision and Resolution of Systemically Important Non-Bank Financial Institutions in the European Union? Discussants: Dimitris Zafeiris, EIOPA and Thomas Wilson, Allianz SE 10:30 - 11:10 Chair: Santiago Carbó Valverde, Colegio Universitario de Estudios Financieros (CUNEF) and European Banking Institute Marco Lamandini, University of Bologna and European Banking Institute, and David Ramos Munoz, University of Madrid and University of Bologna and European Banking Institute When rules fail us, standards will have to do. The role of principles in completing the banking union Discussant: Klaus Lackhoff, ECB
11:10 - 11:30	Coffee Break
11:30 - 12:10	Chair: Irene Kull, University of Tartu and European Banking Institute Bart Joosen, Vrije Universiteit, Amsterdam, and European Banking Institute, Matthias Lehmann, University of Bonn and European Banking Institute, and Kitty Lieverse, Radboud University Nijmegen Towards a bifurcated European banking law Discussant: Fons Borginon, Belgian Savings and Network Banks
12:10 - 13:00	Lunch
13:00 - 14:15	Panel Discussion – What is needed to complete the banking union? Chair: Thomas Gstädtner, European Banking Institute Helo Meigas, Swedbank Giovanni Sabatini, Italian Banking Association Andy Jobst, Worldbank Martin Merlin, EU Commission Benoît Lallemand, Financewatch Johannes Lindner, ECB
14:15 - 14:30	Coffee Break
14:30 - 15:10	Chair: Bart Joosen, Vrije Universiteit, Amsterdam, and European Banking Institute Andromachi Georgosouli, Queen Mary University, Centre for Commercial Law Studies (CCLS), London International regulatory convergence, EU legal harmonisation and the normative foundations of variation in the Banking Union Discussant: Davide Stroppa, EBA
15:10 - 15:50	Chair: Dirk Zetzsche, Université du Luxembourg and European Banking Institute Steven L. Schwarcz, Duke University School of Law: Beyond Bankruptcy Resolution as a Macroprudential Regulatory Tool Discussant: Stefano Cappiello, SRB
15:50 - 18:10	Second session: Implications of Brexit 15:50-16:30 Chair: Antonella Sciarrone Alibrandi, Università Cattolica del Sacro Cuore and European Banking Institute Guido Ferrarini, University of Genova and European Banking Institute Brexit and CCPs: The Role of Politics Discussants: Amélie Champsaur, Cleary Gottlieb and Mathias Graulich, Eurex Clearing 16:30-16:50 Coffee Break 16:50-17:30 Chair: Thomas Papadopoulos, University of Cyprus and European Banking Institute Mathias Hanten, Deloitte Legal Germany, and Osman Sacarcelik, Deloitte Legal Germany EU Market Access for Banks and Investment Firms in the pre-sunset phase of Brexit Discussant: Guenther Birnbaum, BaFin 17:30-18:10 Chair: Tobias Tröger, Goethe University, Frankfurt am Main, and European Banking Institute Panel Discussion – European Banking and Financial Markets post Brexit Simon Dodds, Deutsche Bank AG Jonathan Overett Somnier, EBA Thomas Huertas, E&Y Stephen Fisher, Blackrock

Program, February 24, 2018

09:00 - 09:40	Chair: Juana Pulgar Ezquerra, Complutense University of Madrid and European Banking Institute Eddy Wymeersch, University of Ghent, and European Banking Institute Brexit and the Equivalence of Regulation and Supervision Discussants: Simon Gleeson, Clifford
09:40 - 10:20	Chair: Blanaid Clarke, Trinity College, Dublin, and European Banking Institute Wolf-Georg Ringe, University of Hamburg, The Irrelevance of Brexit for European Financial Markets Discussant: Bob Penn, Cleary Gottlieb
10:20 - 10:40	Coffee Break
10:40 - 12:10	Third session: Regulation of Non-Bank Banks 10:40-11:30 Chair: Gustaf Sjöberg, Stockholm University and European Banking Institute Benjamin Geva, York University, Toronto Banking in the digital age -- who is afraid of payments disintermediation? Discussants: Michael Salmony, equensWorldline SE and Gijs Boudewijn, Dutch Payment Association 11:30-12:10 Chair: Seppo Villa, University of Helsinki and European Banking Institute André Prüm, University of Luxembourg and European Banking Institute, and Hossein Nabilou, University of Luxembourg: Shadow Banking in Europe Specificities and their Implications for Regulation Discussant: Michael Grill, ECB
12:10 - 12:20	Closing Remarks and end of Conference Enrico Leone, Chancellor of European Banking Institute

Programm, 23.02.2018

08:30 - 09:00	Registration and Coffee
09:00 - 09:15	Welcoming remarks and introduction to the European Banking Institute Volker Wieland, Managing Director of the Institute for Monetary and Financial Stability (IMFS) and Goethe University Thomas Gstädtner, President of the Supervisory Board of the European Banking Institute
09:15 - 09:40	Keynote Speech Rolf Strauch, Management Board ESM (Speech)
09:40 - 11:10	First session: Completing the Banking Union 09:40 - 10:30 Chair: Luis D. S. Morais, Universidade de Lisboa and European Banking Institute Danny Busch, Radboud University Nijmegen and European Banking Institute Towards Single Supervision and Resolution of Systemically Important Non-Bank Financial Institutions in the European Union? Discussants: Dimitris Zafeiris, EIOPA and Thomas Wilson, Allianz SE 10:30 - 11:10 Chair: Santiago Carbó Valverde, Colegio Universitario de Estudios Financieros (CUNEF) and European Banking Institute Marco Lamandini, University of Bologna and European Banking Institute, and David Ramos Munoz, University of Madrid and University of Bologna and European Banking Institute When rules fail us, standards will have to do. The role of principles in completing the banking union Discussant: Klaus Lackhoff, ECB
11:10 - 11:30	Coffee Break
11:30 - 12:10	Chair: Irene Kull, University of Tartu and European Banking Institute Bart Joosen, Vrije Universiteit, Amsterdam, and European Banking Institute, Matthias Lehmann, University of Bonn and European Banking Institute, and Kitty Lieverse, Radboud University Nijmegen Towards a bifurcated European banking law Discussant: Fons Borginon, Belgian Savings and Network Banks
12:10 - 13:00	Lunch
13:00 - 14:15	Panel Discussion – What is needed to complete the banking union? Chair: Thomas Gstädtner, European Banking Institute Helo Meigas, Swedbank Giovanni Sabatini, Italian Banking Association Andy Jobst, Worldbank Martin Merlin, EU Commission Benoît Lallemand, Financewatch Johannes Lindner, ECB
14:15 - 14:30	Coffee Break
14:30 - 15:10	Chair: Bart Joosen, Vrije Universiteit, Amsterdam, and European Banking Institute Andromachi Georgosouli, Queen Mary University, Centre for Commercial Law Studies (CCLS), London International regulatory convergence, EU legal harmonisation and the normative foundations of variation in the Banking Union Discussant: Davide Stroppa, EBA
15:10 - 15:50	Chair: Dirk Zetzsche, Université du Luxembourg and European Banking Institute Steven L. Schwarcz, Duke University School of Law: Beyond Bankruptcy Resolution as a Macroprudential Regulatory Tool Discussant: Stefano Cappiello, SRB
15:50 - 18:10	Second session: Implications of Brexit 15:50-16:30 Chair: Antonella Sciarrone Alibrandi, Università Cattolica del Sacro Cuore and European Banking Institute Guido Ferrarini, University of Genova and European Banking Institute Brexit and CCPs: The Role of Politics Discussants: Amélie Champsaur, Cleary Gottlieb and Mathias Graulich, Eurex Clearing 16:30-16:50 Coffee Break 16:50-17:30 Chair: Thomas Papadopoulos, University of Cyprus and European Banking Institute Mathias Hanten, Deloitte Legal Germany, and Osman Sacarcelik, Deloitte Legal Germany EU Market Access for Banks and Investment Firms in the pre-sunset phase of Brexit Discussant: Guenther Birnbaum, BaFin 17:30-18:10 Chair: Tobias Tröger, Goethe University, Frankfurt am Main, and European Banking Institute Panel Discussion – European Banking and Financial Markets post Brexit Simon Dodds, Deutsche Bank AG Jonathan Overett Somnier, EBA Thomas Huertas, E&Y Stephen Fisher, Blackrock

Programm, 24.02.2018

09:00 - 09:40	Chair: Juana Pulgar Ezquerra, Complutense University of Madrid and European Banking Institute Eddy Wymeersch, University of Ghent, and European Banking Institute Brexit and the Equivalence of Regulation and Supervision Discussants: Simon Gleeson, Clifford
09:40 - 10:20	Chair: Blanaid Clarke, Trinity College, Dublin, and European Banking Institute Wolf-Georg Ringe, University of Hamburg, The Irrelevance of Brexit for European Financial Markets Discussant: Bob Penn, Cleary Gottlieb
10:20 - 10:40	Coffee Break
10:40 - 12:10	Third session: Regulation of Non-Bank Banks 10:40-11:30 Chair: Gustaf Sjöberg, Stockholm University and European Banking Institute Benjamin Geva, York University, Toronto Banking in the digital age -- who is afraid of payments disintermediation? Discussants: Michael Salmony, equensWorldline SE and Gijs Boudewijn, Dutch Payment Association 11:30-12:10 Chair: Seppo Villa, University of Helsinki and European Banking Institute André Prüm, University of Luxembourg and European Banking Institute, and Hossein Nabilou, University of Luxembourg: Shadow Banking in Europe Specificities and their Implications for Regulation Discussant: Michael Grill, ECB
12:10 - 12:20	Closing Remarks and end of Conference Enrico Leone, Chancellor of European Banking Institute