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Restraining Dividends (and other Pay-Outs)

Dates:
  • Wed 24 Jun 2020 12.30 - 14.00
  Add to Calendar 2020-06-24 12:30 2020-06-24 14:00 Europe/Paris Restraining Dividends (and other Pay-Outs)

The European University Institute’s Florence School of Banking and Finance in cooperation with the Leibniz Institute for Financial Research SAFE (Goethe University, Francfort) and the Centre for Economic Policy Research (CEPR) will introduce and discuss the rationale, merit and scope of the ESRB Recommendation on the restriction of pay-outs during the COVID-19 pandemic.

Francesco Mazzaferro (Head of the Secretariat of the European Systemic Risk Board (ESRB)) will present the background report and the ESRB Recommendation to achieve a uniform approach to restraints on pay-outs across the European Union and across different segments of the financial sector. This ESRB recommendation comes in support of previous initiatives from the European Central Bank, the European Banking Authority, the European Insurance and Occupational Pensions Authority and national authorities to insist on the need for banks, insurance companies to refrain from paying dividends and variable compensation and buying back shares until at least 1 January 2021 – and possibly longer in case of necessity.

The debate will explore the merits in terms of macro-prudential arguments and impact of a wide-ranging restrictions on pay-outs across the different segments of the financial system.

The debate will be chaired by Elena Carletti (Bocconi University, Florence School of Banking and Finance and CEPR), moderated by Jan-Pieter Krahnen (Goethe University, Leibniz Institute for Financial Research SAFE and CEPR) and will feature Viral V. Acharya (New York University, Stern School of Business and CEPR) and a private sector expert as commentators.

This debate is part of a COVID-19 online event series organised by the Florence School of Banking and Finance to discuss Europe’s economic policy response to the pandemic.

Outside EUI premises - DD/MM/YYYY
  Outside EUI premises -

The European University Institute’s Florence School of Banking and Finance in cooperation with the Leibniz Institute for Financial Research SAFE (Goethe University, Francfort) and the Centre for Economic Policy Research (CEPR) will introduce and discuss the rationale, merit and scope of the ESRB Recommendation on the restriction of pay-outs during the COVID-19 pandemic.

Francesco Mazzaferro (Head of the Secretariat of the European Systemic Risk Board (ESRB)) will present the background report and the ESRB Recommendation to achieve a uniform approach to restraints on pay-outs across the European Union and across different segments of the financial sector. This ESRB recommendation comes in support of previous initiatives from the European Central Bank, the European Banking Authority, the European Insurance and Occupational Pensions Authority and national authorities to insist on the need for banks, insurance companies to refrain from paying dividends and variable compensation and buying back shares until at least 1 January 2021 – and possibly longer in case of necessity.

The debate will explore the merits in terms of macro-prudential arguments and impact of a wide-ranging restrictions on pay-outs across the different segments of the financial system.

The debate will be chaired by Elena Carletti (Bocconi University, Florence School of Banking and Finance and CEPR), moderated by Jan-Pieter Krahnen (Goethe University, Leibniz Institute for Financial Research SAFE and CEPR) and will feature Viral V. Acharya (New York University, Stern School of Business and CEPR) and a private sector expert as commentators.

This debate is part of a COVID-19 online event series organised by the Florence School of Banking and Finance to discuss Europe’s economic policy response to the pandemic.


Location:
Outside EUI premises -

Affiliation:
Robert Schuman Centre for Advanced Studies

Type:
Online Debate

Links:
Register here
For further information, please visit the event webpage

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