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.
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
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, Non-resident fellow
Opening keynote address:
Thomas Wieser, Non-resident fellow
Panel discussion
Marco Buti, Head of Cabinet, Commissioner Paolo Gentiloni
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, Former 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, Non-resident 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, Non-Resident fellow
Corso Bavagnoli, Head of Department for Financing of the Economy, French Treasury
John Berrigan, Director-General, European Commission, DG FISMA
Piers Haben, Director of Banking Markets, Innovation and Consumers, European Banking Authority (EBA)
Gert-Jan Koopman, Director General, European Commission, DG BUDGET
Reza Moghadam, Chief Economic Advisor, Morgan Stanley
17.00
End
Speakers
Corso Bavagnoli
Head of Department for Financing of the Economy, French Treasury
Iker Beraza
Chief Financial Officer, Sareb
Arne Berggren
Chairman of the Board Risk Committee, Bank of Cyprus
John Berrigan
Director-General, European Commission, DG FISMA
Marco Buti
Head of Cabinet, Commissioner Paolo Gentiloni
Vítor Constâncio
Former Vice President, ECB
John Davison
CEO, KKR/Pillarstone
Maria Demertzis
Deputy Director
Sharon Donnery
Deputy Governor, Central Bank of Ireland and Chair of the SSM NPL Task Force
Inês Drumond
Deputy Head, Financial Stability Department, Bank of Portugal
Giorgio Gobbi
Head of Financial Stability Directorate, Bank of Italy
Piers Haben
Director of Banking Markets, Innovation and Consumers, European Banking Authority (EBA)
Boštjan Jazbec
Governor, Bank of Slovenia
Gert-Jan Koopman
Director General, European Commission, DG BUDGET
Alexander Lehmann
Non-resident fellow
TJ Lim
Deputy Chief Risk Officer, Unicredit Group
Brendan McDonagh
CEO, Nama
Reza Moghadam
Chief Economic Advisor, Morgan Stanley
Ajay Rawal
Partner, Ernst & Young
Emanuele Rosetti Zannoni
Managing Director, Cerberus
Dirk Schoenmaker
Non-Resident fellow
Carola Schuler
Managing Director, Bank Analytics, Moody’s
Julien Wallen
Managing Director, Blackrock
Thomas Wieser
Non-resident fellow
Guntram B. Wolff
Director
Location & Contact
Matilda Sevon
[email protected]
