Discussions@FRS – run#2  |  23 June 2021  |  9:30 – 12:30 h  |  online

FRS is running it’s second edition of the new virtual FRS exchange platform to discuss topical issues as well as relevant aspects in the context of the EU Commission’s review of the crisis management and deposit insurance (CMDI) framework, with a special focus on the impediments to the resolution of medium-sized banks. The discussion will be resumed and driven forward at the Financial Stability Conference in fall.

Discussions@FRS is the new exchange platform to be run according to topical issues. As a virtual event it connects people to exchange and debate on specific subjects and aspects of current regulatory and financial stability issues as well as financial market policies in the EU. The discussion is an open event bringing together policy makers and experts from authorities and institutions with junior and senior scientists, researchers, industry experts as well as citizens and the interested public. Discussions can be conceived, labeled and performed in cooperation with other partners.

Input | Materials | Questions
Here we will list input, presentations, links and questions we receive in advance of the discussions. Every interested person is invited to contribute and we welcome as well suggestions and interventions on specific issues which appear relevant to the debate.
In advance questions and input are appreciated and can be emailed to:
Discussions@FRS – run#2
23 June 2021  |  9:30 h – 12:30 h  |  online

Improving the EU’s crisis management and deposit insurance (CMDI) framework:
Digging into the shortcomings and advancing on appropriate instruments


09:30  Welcome | Opening

Martin Aehling, Director, Financial Risk and Stability Network


09:40  Session  I  –  Impulse
Marie Donnay, Head of Unit Resolution and Deposit Insurance, European Commission


09:50   Session  I  –  Discussion
The Commission’s review of the CMDI framework:
How to address weaknesses and impediments to orderly resolution in crisis times?

  • The diversity of insolvency procedures and hierarchies across Member States and tools akin to the BRRD/SRMR: How to make headway on a consistent approach?
  • The intricate issues with AMCs: Design and implementation, funding and state aid, classification and valuation, competition aspects and the responsibility of banks
  • Renationalisation attemps and diminishing credibility: Which policies could rebuild trust in the toolset and how to ensure a workable resolution practice in crisis times?

Marie Donnay, Head of Unit Resolution and Deposit Insurance, European Commission
Moderator: Luís Silva Morais, Professor of Law, University of Lisbon


10:50  Break


11:00   Session  II  –  Impulse
Pedro Machado, Director of Resolution Planning and Decisions, Single Resolution Board

11:10   Session  II  –  Discussion
The resolution of medium-sized banks:
What are the obstacles, how shall the toolset be modified and could the FDIC be taken as a blueprint?

  • Unhelpful incentives for national authorities in dealing with failing or likely to fail banks: Which revsions are useful to minimise the use of public funds?
  • Difficult issuance of MREL-instruments: By which means could medium-sized banks meet their minimum requirement for own funds?
  • Could a centralized administrative liquidation tool address the existing gap in the resolution framework for medium-sized banks?

Pedro Machado, Director of Resolution Planning and Decisions, Single Resolution Board
Sven Schelo, Restructuring and Insolvency Partner, Linklaters
Emiliano Tornese, European Commission
Sofia Toscano Rico, Head of Business Model and Capital Adequacy Division, European Central Bank
Moderator: Bart Joosen, Regulatory Counsel, Professor of Financial Supervision Law, VU University Amsterdam


12:20  Wrap up | Conclusion


12:30  End

Participation information:

This new online format is a public event, participation is without charge. Interested persons can register via the registration link. The registration link will be circulated shortly before the event via the email lists of the organiser and in case cooperation partners. The link is as well available on the discussion event-site shortly before the date.

Discussions@FRS are public events. By participating you consent that your questions and/or interventions may appear in online documentation and/or webcasts.


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