Past Event

The Financial Stability Board’s work in progress on ending Too-Big-To-Fail

The financial crisis has highlighted the longstanding challenge of resolving large and complex financial institutions which tend to be, as the saying goes, “international in life but national in death”. While this challenge is partly addressed within the EU by the Single Resolution Mechanism and the Bank Recovery & Resolution Directive, it raises different questions […]

Date: Jul 17 - Topic: Banking and capital markets

The financial crisis has highlighted the longstanding challenge of resolving large and complex financial institutions which tend to be, as the saying goes, “international in life but national in death”. While this challenge is partly addressed within the EU by the Single Resolution Mechanism and the Bank Recovery & Resolution Directive, it raises different questions at the global level. The Financial Stability Board is tackling it through ground-breaking work on “ending TBTF”, including the distinction between single-point-of-entry and multiple-points-of-entry resolution approaches and the introduction of minimum requirements for “gone-concern loss-absorbing capital” (GLAC) which are still being debated.

Speakers

  • Andrew Gracie, Executive Director for Resolution, Bank of England
  • Wilfred Nagel, Chief Risk Officer, ING Group and ING Bank
  • Waleed El Amir, Head of Group Strategic Funding, UniCredit
  • Chair: Nicolas Véron, Senior Fellow, Bruegel

About the speakers

Andrew Gracie joined the Bank of England in 1988 and has worked there in Financial Stability, Markets, and Banking Supervision. Between 2006 and 2011 he left the Bank to create a specialist consultancy, Crisis Management Analytics. He came back to the Bank in 2011 to run its Special Resolution unit, and is leading the Bank’s participation in FSB proceedings in this area.

Wilfred Nagel joined ING in 1991 and has been a member of its Executive Board since May 2012. After various executive positions in Asia and the Americas, he became head of Group Credit Risk Management in 2002, CEO of ING Wholesale Bank Asia in 2005, and CEO of ING Bank Turkey in 2010. He holds a Master’s Degree in Economics from VU University Amsterdam, and started his banking career at ABN Amro in 1981.

Waleed El Amir oversees UniCredit’s funding across entities and liability management, and manages the bank’s structural and strategic investment portfolios. He is also Vice Chairman of UniCredit Luxembourg. Prior to joining UniCredit in 2012, he had worked for 16 years at Merrill Lynch and Bank of America in New York, London, and Dubai. He holds a Master’s Degree in Biochemical Engineering from the University of Surrey and an MBA from NYU Stern.

Practical details

  • Venue: Bruegel, Rue de la Charité 33, 1210 Bruegel
  • Time: Thursday 3 July 2014, 8.15-10.00
  • Contact: Matilda Sevón, Events Manager – [email protected]

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