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Pulled down by the state: the effect of sovereign shocks on banks' health in the European sovereign crisis
Abstract of the paper to be presented
The European crisis in the late 2000s has revealed a vicious circle between the fi nancial health of governments and banks, refl ecting banks' holdings of sovereign debt and government commitments to financial bailouts. Understanding the linkages between sovereign and banking risk is a central element of an effective macroprudential policy framework.
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Follow the conversation on Twitter: #110yearsSEV
Follow the conversation on Twitter: #110yearsSEV
There was progress, and I think it’s really good for the Greek economy that there was agreement on the policy package because this can put Greece on a stronger growth path. And that was appreciated by all ministers. It also means we do have a shared conditionality among all the four institutions, which took a while to get there, but we reached that point.
The Luxembourg Finance Ministry (Ministère des Finances du Grand-Duché de Luxembourg) and the European Stability Mechanism were co-hosts of the Government Borrowers Forum (GBF) this year, together with the World Bank Treasury, which holds the secretariat for the GBF.
The conference took place May 16-18 at the ARBED building “19 Liberté” in Luxembourg, kindly made available by the Banque et Caisse d’Epargne de l’Etat (BCEE).
The conference took place May 16-18 at the ARBED building “19 Liberté” in Luxembourg, kindly made available by the Banque et Caisse d’Epargne de l’Etat (BCEE).
Luxembourg – The European Financial Stability Facility (EFSF) on Wednesday raised €6 billion through a new 16-year bond deal, adding towards its funding needs after the early completion of its second-quarter issuance programme last month.
“Today’s very strong order book showed it was the right decision to raise long-term funding when the demand is there. The EFSF is not planning any further benchmark transactions for the remainder of the second quarter,” said Siegfried Ruhl, EFSF Head of Funding and Investor Relations.
“Today’s very strong order book showed it was the right decision to raise long-term funding when the demand is there. The EFSF is not planning any further benchmark transactions for the remainder of the second quarter,” said Siegfried Ruhl, EFSF Head of Funding and Investor Relations.
ESM Chief Risk Officer, Cosimo Pacciani, will speak on the topic of the Future of Banking at the Cambridge Centre for Risk Studies.
This year’s summit theme is, "Managing Risk in a Smarter World", and will explore the overall risks and opportunities for risk managers in today’s evolving technological landscape. The greater adoption of automation by the finance and insurance sectors, alongside other industries, will also have significant impact on public policy, the labour market and privacy and personal data.
ESM Chief Risk Officer, Cosimo Pacciani, moderates panel on Regulation and Risk.
The 10th edition of the International Risk Management Conference in Florence, Italy, June 12-14, 2017 brings together leading experts from various academic disciplines and professionals.
The 10th edition of the International Risk Management Conference in Florence, Italy, June 12-14, 2017 brings together leading experts from various academic disciplines and professionals.