Download PDF agenda - Euromoney Conferences
Download PDF agenda - Euromoney Conferences
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08.00-09.00 Registration and Coffee<br />
Liberty Foyer<br />
ALL PLENARY SESSIONS<br />
Liberty Ballroom I<br />
- A conference for issuers and investors<br />
09.00-09.05 <strong>Euromoney</strong> Welcome: Christopher Garnett, Director, <strong>Euromoney</strong> <strong>Conferences</strong><br />
09.05-09.25 The European Central Bank Liquidity Bridge<br />
Keynote Address: Francesco Papadia, Director General, Directorate General Market Operations, European Central<br />
Bank<br />
09.25-09.45 A Normal Credit Cycle After All?<br />
Keynote Presentation: Stephane Deo, Managing Director, Head of European Economic Research, UBS<br />
09.45-10.45 Panel I: Banks, Politics and Money<br />
10.45-11.05 Coffee Break<br />
• How has the political environment for banks changed?<br />
• Does that affect the volume or the shape of bank capital and bank finance markets?<br />
• Stress tests, NPLs and key credit trends: what do they mean for the European bank finance market?<br />
• How will the relationship between leverage, capital regimes, dividend policy and ROE targets affect the bank<br />
finance market?<br />
• Is the regulatory environment settled?<br />
• What does that mean for bank finance?<br />
• What are the key trends in the European bank deposit market?<br />
• How has the relationship between sovereign debt and banking debt changed in Europe?<br />
• What do bail-ins and resolution schemes mean for the bank debt market?<br />
• Systemically important banks: has the ‘too-big-to-fail’ problem been solved?<br />
Moderator: Mark Johnson, Editor, <strong>Euromoney</strong> <strong>Conferences</strong><br />
Speakers: Michelle Brennan, Criteria Officer for Financial Institutions Europe, Standard and Poor’s<br />
Prasad Gollakota, Managing Director, Co-Head of the Capital and Equity Linked Team, UBS<br />
Sylvie Matherat, Deputy Director General – Directorate General Operations, Banque de France and Chair, Accounting<br />
Task Force, Basel Committee on Banking Supervision<br />
Shyam Parekh, Managing Director, Co-Head of FIG Capital Markets, Morgan Stanley<br />
Elemér Terták, Director, Financial Institutions, Internal Market Directorate General, European Commission<br />
Liberty Foyer
11.05-11.50 Workshop A<br />
Hosted by: Credit Suisse<br />
Liberty Ballroom I<br />
Contingent Capital<br />
11.55-12.40 Workshop C<br />
- A conference for issuers and investors<br />
• Summary of regulatory developments<br />
• Rabobank and Credit Suisse case studies<br />
Speakers: Sandeep Agarwal, Managing Director,<br />
Head of Financial Institutions Debt Capital Markets,<br />
Europe, Credit Suisse<br />
Khalid Krim, Head of European Hybrid Capital<br />
Structuring, Credit Suisse<br />
Chris Tuffey, Managing Director, Head of<br />
European Syndicate, Credit Suisse<br />
Hosted by: Deutsche Bank<br />
Liberty Ballroom I<br />
Managing the Regulatory Avalanche<br />
• Capital management: reconciling<br />
objectives and (re)defining stakeholders<br />
• Meeting capital requirements<br />
- capital issuance<br />
- management of deductions<br />
• Basel III capital management and pitfalls<br />
• Design of new-style capital instruments<br />
• What else to expect from regulators?<br />
Speakers: Andreas Boeger, Managing Director,<br />
Co-Head of Capital Solutions Europe & CEEMEA,<br />
Deutsche Bank<br />
Workshop B<br />
Hosted by: Morgan Stanley<br />
Liberty Ballroom II<br />
Asset-Based Funding and Capital<br />
Funding<br />
Capital<br />
• Public transactions: securitization and covered<br />
bonds<br />
• ECB, EIB secured funding facilities<br />
• Bilateral funding facilities and contingent liquidity<br />
o Common structures<br />
o Investor base and appetite<br />
• De-risking strategies and regulatory capital<br />
optimisation<br />
• Asset and portfolio sales<br />
• Good bank, bad bank<br />
• Investor base and demand<br />
Case studies<br />
Speakers: Cecile Houlot, Managing Director, Head<br />
of European Securitization and Asset Solutions, Morgan<br />
Stanley<br />
Beatriz Martin Jimenez, Managing Director, Fixed Income<br />
Division, Morgan Stanley<br />
Workshop D<br />
Hosted by: Citi<br />
Liberty Ballroom II<br />
Hybrid Tier 1, CoCos, Tier 2 and Bail-ins - do we really<br />
need all of these?<br />
• Do we need so many different capital instruments?<br />
o Hybrid Tier 1<br />
o CoCos<br />
o Tier 2<br />
o Bail-in senior<br />
• What are the different roles they might play in the<br />
capital structure?<br />
• How should the different instruments interact?<br />
• Will there be a sufficient market?<br />
• What will it mean to be a SIFI?<br />
• Isn't liquidity at least as important as capital?<br />
Speakers: Chris Lees, Managing Director, Head of<br />
European FIG DCM, Citi<br />
Simon McGeary, Managing Director, Head of European<br />
New Products, Citi
12.40-13.40 Lunch<br />
Liberty Foyer<br />
13.40-14.30 Panel II: Bank Capital<br />
- A conference for issuers and investors<br />
• How close are European banks to achieving required levels of capital?<br />
• How much more do banks need to do?<br />
• Has the Basle Committee achieved regulatory certainty?<br />
• ‘Seven percent by 2019,’: is the phase-in too slow?<br />
• The ‘Swiss Finish’: How important is the role of national capital requirements?<br />
• What is the role of regulatory capital buffers?<br />
• How important are counter-cyclical buffers?<br />
• The end of the shadow banking system: is regulatory arbitrage truly dead or set to burst out in new forms?<br />
• Contingent-capital: a solution or dead end?<br />
• Are there other forms of loss-absorption instruments available?<br />
• Will bank hybrid instruments make a comeback in 2011?<br />
• Will the subordinated market remain open for European banks?<br />
• Are rating agencies up to speed on capital instruments in the new environment?<br />
Moderator: Hélène Durand, Fixed Income Editor, EuroWeek<br />
Speakers: Sandeep Agarwal, Managing Director, Head of Financial Institutions Debt Capital Markets, Europe, Credit<br />
Suisse<br />
Norbert Dorr, Head of Capital Management and Planning, Group Treasury, Commerzbank<br />
Simon McGeary, Managing Director, Head of European New Products Group, Citi<br />
Steven Penketh, Managing Director, Barclays Treasury<br />
14.35-15.25 Panel III: Bank Funding: Is the Toolkit Half-Empty or Half-Full?<br />
• Will senior debt markets remain volatile in 2011?<br />
• What do bail-ins and resolution mean for the senior debt market?<br />
• Are covered bonds the ‘new senior debt’?<br />
• How important will the retail bid be for bank debt?<br />
• What does Solvency II mean for bank finance?<br />
• How will treasurers adapt to new bank liquidity requirements?<br />
• Have the inter-bank markets returned to normal?<br />
• Is the repo market functioning properly?<br />
• Can over-dependent banks be nursed back from addiction to the ECB liquidity window?<br />
• How will new capital constraints affect the relationship between the bank treasury and front-line operating<br />
departments?<br />
• How fast is asset-liability thinking changing within banks?<br />
• Securitisation 2.0: can the market come back?
15.25-15.45 Coffee Break<br />
- A conference for issuers and investors<br />
Moderator: Katie Llanos-Small, Deputy Fixed Income Editor, EuroWeek<br />
Speakers: John-Paul Coleman, Head of Term Funding and Capital Raising, Royal Bank of Scotland<br />
Fernando Cuesta, Head of Funding, Caja Madrid<br />
Pierre Menet, Deputy Chief Executive Officer, Société Générale SCF<br />
Mauricio Noé, Managing Director, Financial Institutions Group, Deutsche Bank<br />
Michael Wagner, Partner, Oliver Wyman<br />
Liberty Foyer<br />
15.45-16.05 Is Inflation Back?<br />
Keynote Address: Yves Mersch, Governor, Banque centrale du Luxembourg<br />
16.05-16.55 Panel IV: Investor Panel: The Appetite for Bank Securities<br />
• What are the key patterns of demand and supply in the European bank securities market?<br />
• Will volatility continue?<br />
• Do bank debt investors believe the stress tests?<br />
• Are more vigorous stress tests needed?<br />
• Is the banking system the weak point in climbing out of the European debt crisis?<br />
• How do investors view the relationship between sovereign and banking debt?<br />
• What do new loss-absorption requirements mean for the market for bank debt?<br />
• How are investors seeking pricing points in such a changed environment?<br />
• Will investors extend duration?<br />
• How important is the bank bid for bank debt?<br />
• How important is the insurance bid for bank debt?<br />
• What is the relationship between the euro bank debt market and other sectors such as the Yankee market?<br />
• Will the appetite for banking debt continue to be re-oriented towards home markets?<br />
• How important is the retail bid?<br />
• Will the market continue to become a more fragmented, two-tier market?<br />
Moderator: Mark Johnson, Editor, <strong>Euromoney</strong> <strong>Conferences</strong><br />
Speakers: Christian Eckert, Head of Portfolio Management Fixed Income, Union Investment<br />
Thomas Höfer, Head of Financial Credit Europe, Deutsche Asset Management<br />
Olaf Pimper, Director, Treasury/Liquidity Portfolio Management, Commerzbank Group<br />
Alex Veroude, Head of Credit, Insight Investment<br />
16.55-18.00 Cocktail Reception<br />
Liberty Foyer<br />
NB <strong>Euromoney</strong> <strong>Conferences</strong> reserves the right to amend the programme and is not responsible for cancellations due to unforeseen circumstances. <strong>Euromoney</strong> <strong>Conferences</strong><br />
accepts no responsibility for statements made orally or in written material distributed by any of its speakers at its conferences. In addition, <strong>Euromoney</strong> <strong>Conferences</strong> is not<br />
responsible for any copying, republication or redistribution of such statements.
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