How does bail in work in practice: Concepts and implementation challenges• How to define loss absorbing capacity (MREL/TLAC)

• Cross border recognition of bail-in

• Practical examples of bail-in (pre and post BRRD)

• Case studies and Group work

FINSAC WORKSHOP ON BAIL-IN AND MREL

DECEMBER 13, 2016VIENNA, AUSTRIA

VENUE: WORLD BANK OFFICEPraterstrasse 31, 1020 Vienna, Austria17th Floor

08:00 – 08:30

08:30 – 08:45

08:45 – 09:30

09:30 – 10:15

10:15 – 11:00

11:00 – 11:15

11:15 – 12:00

12:00 – 12:30

12:30 – 13:00

RegistRation and Light BReakfast

intRoduction

Pamela lintnerFinSaC, World Bank

expLoRing BaiL-in within the Banking union

Florentijn KlooSterman and Paloma rePullo Conde Single resolution Board

how to ensuRe enough Lac: fRom mReL to tLac

niKoletta KleFtouri european Banking authority

puRpose and impLications of the pRioR 8% BaiL-in RequiRement undeR the BRRd

Paolo FuCile Structural reform Support Services, european Commission

coffee BReak

how to set mReL foR suBsidiaRies in host countRies (inteRnaL/ exteRnaL)

emil VonVeanational Bank of romania

mReL & tLac – a maRket peRspective

BanaFSheh GeretzKi Blackrock, Financial markets advisory

cRoss BoRdeR Recognition of BaiL-in and oveRview on Recent BaiL-in case studies (Bes, gReece, heta)

Kolja StehlShearman & Sterling

agenda

13:00 – 14:00

14:00 – 14:30

14:30 – 15:30

15:30 – 15:45

15:45 – 16:30

16:30 – 17:00

Lunch BReak

intRoduction to case studies

iSmael ahmad Bluecap management Consulting

gRoup woRk

coffee BReak

pResentation of case studies

concLusions

speakeRs

fLoRentijn kLoosteRman Bank recovery and resolution expert, Single resolution Board (SrB) Florentijn has worked in the SrB’s resolution Planning and decisions directorate C since june 2015. this directorate is one of three SrB directorates that are directly responsible for preparing resolution plans and, if necessary, resolution schemes for the banks within the SrB’s remit. he has worked on several resolution matters in cooperation with national resolution authorities, including preparing resolution plans and contributing to the SrB’s horizontal policy stances and publications. Before joining the SrB, Florentijn worked in the Financial markets directorate of the dutch ministry of Finance since early 2008. in this capacity, he was member of the dutch delega-tion that negotiated the proposals for eu legislation regarding bank resolution. Furthermore, he was involved in the resolution and restructuring of a significant financial group in the netherlands. From june to october 2013, he was seconded to the european Commission (dG marKt) to assist on its activities relating to the Bank recovery and resolution directive (Brrd) and the Single resolution mechanism regulation (Srmr). he has a master of Science degree in Business administration and a master of laws degree in dutch laws, both from erasmus university rotterdam.

pameLa LintneR Senior Financial Sector Specialist, Financial Sector advisory Center (FinSaC), the World Bank Pamela is a legal expert specialized in european financial services regulatory policy. She provides consulting on the establishment and enhancement of bank recovery and resolution frameworks in FinSaC’s client countries in line with international best practice and with a focus on Brrd alignment and home/host issues.

in her previous roles for the austrian central bank (oenB) Pamela headed the on-site inspec-tions for the licensing process for the austrian Central Counterparty (CCP.a) in 2014, and represented the oenB in several technical fora at the eCB and the european Commission. Before that she applied her expert knowledge, including on Crd iV, crisis management, de-posit guarantee schemes, and miFid, from a different angle at the austrian Bankers associ-ation where she also participated in respective eBF working groups. in her prior work at the austrian ministry of Finance she led the national delegation of the Council Working Group on the Payment Services directive and supported the austrian Presidency of the european Council in 2006.

Pamela studied law at the universities of linz, Vienna and madrid and received a research scholarship at the european institute of Public administration (eiPa)/maastricht in 2004. She holds a Phd from university of linz.

paLoma RepuLLo conde Bank recovery and resolution expert, Single resolution Board (SrB) Paloma works in the SrB’s Policy Coordination and international relations unit, which is responsible for the internal policy setting process of the SrB, follows specific policy topics related to primary legislation, and co-ordinates and prepares the work of the SrB at inter-national fora like the Financial Stability Board (FSB). She also liaises with parliaments, the Council and the european Commission, as well as with international (non-eu) partners, and prepares and briefs the Chair and other Board members on a wide variety of matters.

Before joining the SrB in September 2015, Paloma worked in Belgium at the european Cov-ered Bond Council (eCBC), a financial services lobby specialized in covered bonds, and at the international union for housing Finance (iuhF), a worldwide housing finance platform. Previously, she worked in the uK and Belgium at the economic consulting firm oxera in the financial services and competition policy teams; in ireland at the irish Competition author-ity in the advocacy division; as well as at the european Commission (Chief economist team at the directorate General of Competition).

She has a first degree (licenciatura) in economics from universidad Carlos iii de madrid and a master’s degree in industrial organization from the toulouse School of economics. She also followed a management program at the Solvay Brussels School of economics & management.

nikoLetta kLeftouRi Banking expert, european Banking authority nikoletta is working as a Bank expert in the european Banking authority. She was previ-ously a legal Counsel of the uK Prudential regulation authority and a member of the Policy division of the resolution directorate in the Bank of england.

nikoletta holds a doctorate in Banking law and an llm in Commercial law, and has pub-lished a number of articles in leading financial law journals. in july 2015, she published a book with oxford university Press, which is the first to provide a comparative approach cov-ering deposit protection and bank resolution regimes in the uK, eu and uS. She is also a Visiting lecturer at university College london and the institute of advanced legal Studies, and has previously worked as a research assistant to the Chair for law and Finance at the university of zurich. She speaks Greek, english, German and French.

paoLo fuciLe legal officer, dG Financial Stability, Financial Services and Capital markets union (FiSma), european Commission Paolo is a legal officer in the unit on bank resolution and crisis management at the european Commission (dG Financial Stability, Financial Services and Capital markets union – FiSma).

in his current capacity, Paolo is responsible for issues related to the application, implemen-tation and legal interpretation of the Bank recovery and resolution directive (Brrd) as well as related legislation, particularly the Single resolution mechanism regulation (Srmr) and the deposit Guarantee Scheme directives (dGSd).

Before working on bank resolution matters, he worked on various topics related to financial services in the european Commission (dG marKt and FiSma), including the regulation of credit rating agencies and retail financial services. Prior to that, Paolo worked as a lawyer in private practice in international law firms in rome and Brussels, specializing in financial services law and competition law. he holds a law degree summa cum laude from the univer-sity of rome (“roma tre”) as well as an llm in law and economics from utrecht university (the netherlands).

emiL vonvea director, Bank resolution department, national Bank of romania emil has been director of the Bank resolution department of the national Bank of romania since july 2015.

Before that he worked at Garanti Bank romania. he was Corporate Governance director from 2010 and in 2012 he was appointed deputy General manager responsible for risk management, Compliance, internal Control, and Corporate Governance. emil was also a member of the Board of directors within non-Banking Financial institutions of Garanti Group romania.

Previously, emil worked for the national Bank of romania for 12 years, as economist in the monetary analysis division, monetary Policy department, and after that as Secretary of the Board of directors of the national Bank of romania.

emil has a diploma in economic Cybernetics from economic Cybernetics, Statistics and informatics Faculty, at the academy of economic Studies, in Bucharest, romania, and a master’s in macroeconomics analysis and Synthesis from the academy for economic Stud-ies, General economics Faculty. he holds the Chartered Financial analyst® designation since 2009.

Banafsheh geRetzki director, Blackrock Solutions, Financial markets advisory Banafsheh has extensive experience in private equity, restructuring and investment banking and specializes in sovereign advisory and complex balance sheet restructuring. most recent-ly, she was involved in the restructurings of the italian, Greek, Spanish, Cypriot, ukrainian and austrian banking systems. Selected projects include: restructuring advisor to the na-tional Bank of ukraine; System-wide restructuring of the Cypriot banking system on behalf of the Central Bank of Cyprus and ministry of Finance responsible for all aspects in relation to the restructuring and recapitalization of the largest banks and the Co-operative sector including the simultaneous carve-out of the Greek operations of the three largest banks in Cyprus, bail-in of Bank of Cyprus, good/bad bank split of Cyprus Popular Bank and the recapitalization and restructuring of the Co-operative sector; design and implementation of the country-wide asset management company SareB on behalf of the Fund for orderly Bank restructuring (FroB); restructuring advisor to the hellenic Financial Stability Fund (hFSF) and the Bank of Greece in relation to numerous financial stability related matters of the Greek banking system in the context of the Brrd.

Prior to that, Banafsheh held various Private equity and m&a roles with Fortress investment Group and morgan Stanley in new York and london where she delivered a broad range of large-scale m&a transactions along with post-merger integrations, debt restructurings and numerous capital markets transactions.

koLja stehL Financial institutions advisory & Financial regulatory Group, Shearman & Sterling (london) llP Kolja is counsel in the firm’s global Financial institutions advisory & Financial regulatory Group, sharing his time between the london and Frankfurt offices. he advises banks, in-surers, financial services providers, fund managers, clearing houses, trading platforms and settlement systems on legal and regulatory aspects of their businesses and transactions, particularly in relation to Germany.

Kolja is also a member of the firm’s Finance Group. his experience includes advising on a broad range of domestic and cross-border finance transactions and financial restructurings, with a focus on bank/bond financings, structured finance and asset based lending.

ismaeL ahmad fontan Specialist on Banking regulation and Strategy, Bluecap management Consulting Partner ismael, specialized in supervisory and regulatory affairs, is the Bluecap senior partner re-sponsible for financial regulation consulting. he has worked on a wide range of advisory projects and engagements with large private, both european and non-european financial institutions, and public entities. in particular, he regularly advises them on corporate gov-ernance, corporate and operating group bank structures, capital/liquidity management, and, especially, on recovery/resolution planning.

he previously worked as bank supervisor in the Bank of Spain. initially, he was part of the supervisory team in charge of the Spanish G-SiBs where he was responsible for recovery and resolution planning and, hence, he participated several Crisis management Groups. later, he was advisor on the regulatory team of the Bank of Spain, participating in the drawing up of a number of solvency and crisis management regulations. as supervisor, he was member of several international and european working groups (BCBS, eBa, etc.). after the Bank of Spain, he joined the regulatory Practice of PwC as a director.

he holds a double bachelor degree in law and Business administration from iCade univer-sity in madrid and regularly provides training on financial regulation and banking risks in seminars for professionals in the financial sector (i.e.: banks, law firms, public institutions ...) and to post-graduate students

FINANCIAL SECTOR ADVISORY CENTER (FINSAC)

PRATERSTRASSE 31, 19TH FLOOR1020 VIENNA, AUSTRIAWWW.WORLDBANK.ORG/FINSAC