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How to relaunch securitization in the EU?

Day 1 Afternoon

Wednesday 09 September

Room :

HALL 1 D

Speakers

Chair
Paul Tang - MEP, Committee on Economic and Monetary Affairs, European Parliament - ECON
Public Authorities
Oliver Gilvarry - Head of Markets & CMU, Department of Finance, Ireland
Martin Merlin - Director, Banks Insurance and Financial Crime, DG FISMA, European Commission - DG FISMA
Sébastien Raspiller - Director, French Treasury, Ministry of the Economy, Finance and the Recovery Plan, France
Industry Representatives
Philippe Bordenave - Chief Operating Officer, BNP Paribas
Andreas Glaser - Chief Financial Officer, Santander Consumer Bank Germany

Objectives of the session

Securitisation is a financial tool which is essential to power the Capital Markets Union, reduce Europe’s dependence on banks and assist in funding Europe’s growth recovery and green ambitions notably in the context of the covid19 pandemic.

To implement the lessons of the crisis of 2007/2008 in penalising opaque and badly structured securitisations whilst recognising safe one, the EU designed the Simple Transparent and Standard Securitisation Regulation (STS regulation).

Beyond its technical and legislative success, however, the STS regulation often arouses disappointment since it fails to raise the volume of securitisation issuance.

The session is thus intended to underline the expected added value for the EU economy of such a framework, outline the strength and weaknesses of the regulations available and discuss the possible avenues and timetable to improve them.

Points of discussion

What should be the size and role of securitisation in Europe? How is performing in the EU (STS, non-STS…) the securitisation market?

What should be the policy priorities to improve the securitisation market in the EU and strengthen the contribution of banks to the financing needs of the EU economy in the Covid19 context (evolutions required in Solvency II, CRD …)?