EBI Monthly Review – June 2022
The EBI Monthly Review offers a summary of the Institute’s activity during the past month.
As the academic year 2021-2022 comes to its end, it is a great pleasure to realise that during that year the work of the EBI has further expanded in a significant way.
Our main focus, the Working Paper Series, was enriched with several new academic papers of high quality. In parallel, the two first books in the “EBI Studies in Banking and Capital Markets Law” were published by Palgrave Macmillan and more are in the pipeline for the next academic year.
The Joint Conference with the Single Resolution Board and the European Stability Mechanism, as well as our Global Annual Conference (organised by our colleague Bart Joosen) were highlights in our activity. Furthermore, the Academic Debates on various interesting topics, including on book launches, were more frequent (and well attended), while the EBI Policy Series (mainly run by the President of the Supervisory Board, Thomas Gstaedtner) kept its well-established momentum.
In July, the EBI will once again co-host the (5th) International Summer School on “Banking & Capital Markets Law”, which is mainly run by the Università Cattolica del Sacro Cuore under the leadership of our colleague Antonella Sciarrone.
Last but not least, we are currently working on finalising all pending issues for the launch, on 9 September, of our brand-new “EBI LL.M. in EU Banking and Financial Regulation”, jointly offered with the Frankfurt School of Finance and Management.
On behalf of my colleagues in the EBI Academic Board, who are key drivers of our continuous expansion, I wish you all to enjoy a relaxing and refreshing summer.
Professor Dr. Christos V. Gortsos
President of the Academic Board of EBI
BrieFin #8: The War in Ukraine and the impact on monetary policy and the financial system
The Academic Board of the European Banking Institute has just released the eighth installment of the EBI BrieFin. This special issue aims at covering, from different and interlinked angles, the financial and monetary impact that the illegal invasion of Ukraine has created.
The Professor’s View
Christos V. Gortsos
Banking resolution in action at the outbreak of the Ukrainian crisis: the ‘Sberbank case’
The Supervisors’ View
Agnieszka Mazany and Mario Quagliariello
The impact of the war in Ukraine on European bank
The Practitioner’s View
Dr. Oleh Zahnitko
Role of National Bank in Ukraine’s Macroeconomic Outlook during February – April 2022
The Researchers’ View
Mariia Domina Repiquet
Regulatory vs. market perceptions about bank portfolio risk and implications for bank lending
Young Researchers’ View
Stavros Kourmpetis
FinTechs on Ukrainian War
Read the complete BrieFin #8 here.
7th Academic Debate
The 7th EBI Academic Debate took place on 13 June 2022 and promoted a discussion on “Economic Sanctions: Their Implications and Effects”. Professor Marco Lamandini (Università di Bologna and Vice-President of the Academic Board of EBI) and Professor Rosa Maria Lastra (Queen Mary University of London and Member of the Academic Board of EBI) had the pleasure to host
OPENING REMARKS
Dr. Thomas Gstädtner, President of the Supervisory Board of EBI
PRESENTATIONS
“FinTech and Sanctions“
Prof. Ross P. Buckley (University of New South Wales)
Prof. Douglas W. Arner (University of Hong Kong and Member of the Academic Board of EBI)
Prof. Dirk A. Zetzsche (Universite du Luxembourg and Member of the Academic Board of EBI)
“The impact of the SWIFT blockage“
Prof. Bart P. M. Joosen (VU University Amsterdam and Member of the Academic Board of EBI)
“Implications/impacts of the sanctions on capital markets regulation“
Prof. Filippo Annunziata (Universita Bocconi, Milano and Member of the Academic Board of EBI)
“Sanctions and impact on loan loss reserve assessment”
Prof. Edgar Löw (Frankfurt School of Finance & Management and Member of the Academic Board of EBI)
“Towards a Euro-crime of non-compliance with economic sanctions?“
Prof. Sylvia Allegrezza (Université du Luxembourg)“Sanctions imposed on the Central Bank“
Prof. Christos V. Gortsos (National and Kapodistrian University of Athens and President of the Academic Board of EBI)
Watch the recording of the debate here.
8th Academic Debate
During the 8th EBI Academic Debate on 27 June 2022, Charles Enoch presented his new book “Europe Beyond the EURO: Building Protection for Europe’s Economies in the Time of Risks”
MODERATION
Prof. Christos V. Gortsos, National and Kapodistrian University of Athens and President of the Academic Board of EBI
PRESENTATION
Charles Enoch, European Studies Centre Fellow, St Antony’s College, University of Oxford, United Kingdom
Watch the recording of the debate here.
FinTech Regulation and the Licensing Principle
Yesterday, 30 June 2022, the Faculty of Law of the University of Lisbon hosted an International Conference on ‘Fintech Regulation and the Licensing Principle’ co-chaired by the European Banking Institute. In the past years, FinTech players have become very active in offering services that in the past were predominantly offered by heavily regulated entities causing the so-called ‘unbundling of Banks effect’ and fostering competition in the financial services market. This full day event discussed the legal impact of FinTech’s in the financial market and its link to the licensing principle to which traditional players are bound. The lineup of topics, ranging from the licensing principle applicable to Banks, Investment Undertakings, and Insurance Companies to emerging legal problems regarding the market in crypto-assets, DAOs and Smart Contracts, to name just a few, illustrate how diverse the legal problems surrounding the ever-evolving financial markets have become.
The discussions were led by leading academics, some of which form part of the EBI network (Professor Christos Gortsos, Professor Dirk Zetsche, Professor Filippo Annunziata), legal experts and industry participants. The event was transmitted trough Zoom and counted more than 120 participants streaming and approximately 30 in person attendees. The videos will be available in CIDP’s YouTube channel which has a great reach in all Portuguese speaking countries (namely Brazil, Angola and Mozambique).
The event was a great success and contributed greatly to, not only shed light on the legal complexities of this new market for financial services but also, to convey and share such knowledge with a plethora of participants thus enabling the scientific creation and diffusion of legal knowledge, both of which constitute the shared tenets of CIDP and EBI.
Catarina Granadeiro
University of Lisbon School of Law
EBI Working Paper Serie
Working Paper Series #118
“Technology and the ‘New Governance’ Techniques of Financial Regulation”
David McNulty, Andrea Miglionico and Alistair Milne
Working Paper Series #119
“Central Banks and Climate Change. Fit, Opportunity and Suitability in the Law and Beyond”
David Ramos Muñoz, Antonio Cabrales and Anxo Sánchez
Working Paper Series #120
“DLT-Based Enhancement of Cross-Border Payment Efficiency – a Legal and Regulatory Perspective”
Dirk A. Zetzsche, Linn Anker-Sørensen, Maria Lucia Passador and Andreas Wehrli
EBI Regulatory Report
The focus of the EBI’s Regulatory Report is on updating you about the latest economic policy and financial regulation measures in Europe, taking into account the most significant global initiatives and financial standards by key international organisations and financial fora
Find the report archive relating to the period up to 31 August 2021 here.
Upcoming Events
Opening Conference: V International Summer School Banking & Capital Markets Law
“Amidst pandemic and war, how to safeguard financial stability?”
11 July 2022
15:00 – 17:30 (CET)
16th EBI Policy Series
“Introducing the Program of the Czech Government for the EU Presidency in the field of banking and financial market”
12 July 2022
12:00 – 13:00 (CET)
Closing Conference: V International Summer School Banking & Capital Markets Law
“The Green Transition in times of war and energy crisis”
15 July 2022
08:00 – 12:00 (CET)