Single Resolution


Held on September 19 2016

With support from UBS


Speakers

  • Dominique Laboureix (Director of Resolution Planning and Decisions, Single Resolution Board)

  • Andrew Gracie (Executive Director, Resolution, Bank of England)


Agenda

 

Formally, the UK is not (and, thanks to the referendum result, presumably never will be) a member of the EU’s Banking Union. Nevertheless, how cross-border bank failures are managed on the Continent is obviously an important issue. As you would expect, the Bank of England is actively engaged with its Banking Union counterpart, the Single Resolution Board, whose aim (in the words of its Annual Report) is to “ensure the orderly resolution of failing banks with minimum impact on the real economy, financial system, and the public finance of participating Member States, as well as those Member States outside the Banking Union”.

In other words, the SRB – and the Single Resolution Mechanism, of which it is a part – matters. It currently matters a great deal, not least because of the strains on the European banking system posed by NPLs in Italy and the problems of smaller banks throughout the Banking Union.

We are, therefore, delighted that Dominique Laboureix – a Member of the Board and Director of Resolution Planning and Decisions – has agreed to talk about the SRB’s work programme, how it fits with the agendas of non-Banking Union states and what the major problems facing European banks today are. He is certainly well-qualified: before joining the SRB last year, he was Deputy D-G in charge of Resolution at France’s ACPR. Before that, he was Director of Research and Policy at the ACPR and Financial Director of the Banque de France.

We are also delighted that Dominique’s homologue at the Bank of England, Andrew Gracie, has agreed to join us. He is (as I am sure you know) Executive Director for Resolution, responsible for the resolution of all financial institutions subject to the UK resolution regime.

Both Dominique and Andrew will speak under the Chatham House Rule, which gives us a wonderful opportunity for a frank discussion on how bank failures that span the Channel will be managed now and in the future and what remains to be done to make banks resolvable and to end too big to fail.