Educational Seminar

📅 22nd November 2024 

🕔 From 10:00 to 12:00

📍 European Parliament

Presenters:

• Presiyan Petkov, Policy Officer, European Commission
• Kevin Ingram, Partner, Clifford Chance
• Thomas Papadogiannis Varouchakis, Assistant Professor in Commercial Law, University of Nottingham
• Fernando Gonzalez, Senior Adviser, European Central Bank
• Jérôme Farges, Global Head of Corporate Securitisation, Societe Generale
• Jean Plattard, General Representative to the EU, Generali

Moderator: Shaun Baddeley, Head of Securitisation division, AFME

Context:

Following the financial crisis of 2007-2008, the EU has implemented a comprehensive overhaul of the securitisation regulatory framework, essentially through the Capital Requirements Regulation and the Securitisation Regulation. Despite the strong resilience of the EU securitisation market since the financial crisis, EU securitisation issuance has experienced muted growth over the last 10 years and continues to lag far behind other major jurisdictions.

Recently, EU leaders have recognised the role that securitisation can play in financing EU growth and making Europe more competitive. In April 2024, the European Council called for ”relaunching the European securitisation market, including through regulatory and prudential changes”. This ambition echoes the Eurogroup and ECB Governing Council Statements of March this year as well as other initiatives, particularly the reports by Mario Draghi on the future of European competitiveness and Enrico Letta on the Single Market as well as the proposals on European capital markets by Christian Noyer.

In this context, the European Commission has recently launched a 8‑week consultation on securitisation aiming at gathering views on the current EU securitisation framework, to inform a possible proposal in the course of 2025.

Agenda:

By addressing questions such as those below, this EPFSF educational seminar aims to provide those assisting decision makers with a clear understanding of the state of the securitisation market, the way it functions as well as of the EU regulatory landscape. It will be an opportunity for participants to have an interactive session with the presenters. 

Introduction to the concept of securitisation, definition and key structures:  

1. "True sale" (or "cash") structures
2. On-balance-sheet (or "synthetic") structures
3. Asset Backed Commercial Paper (or “ABCP”)

• What are the characteristics of the public and the private market?
• What is the STS label?
• What is the current regulatory framework surrounding securitisation in the EU?
• How did EU securitisation perform during and since the GFC? How does it compare to other jurisdictions?
• How could securitisation for green transition financing be further developed?
• What is the role of banks in a securitisation transaction?
• What value does securitisation as an asset class bring to issuers and investors?

Don't miss this opportunity to be part of the conversation on financing Europe’s future. We look forward to welcoming you!

For more information contact us at secretariat@epfsf.org