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EARLY BIRD

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3RD SERIES

IFRS 9 IMPAIRMENT & IMPLEMENTATION

Reviewing Progress Across the Three Phases as the Industry Moves Towards Parallel Runs and Implementation

20-21 SEPTEMBER, 2016 | THE TOWER HOTEL | LONDON

HIGHLIGHTS INCLUDE

HEAR FROM IFRS 9, ACCOUNTING
& CREDIT RISK PROFESSIONALS
INCLUDING:

INTERPRETATION OF THE STANDARD

Interpreting the standards set and understanding principle based terms

Diana Kapsa

Head of Credit Risk
Methodology

UBS

Alan Burke

Head of Risk Measurement

Santander

DATA PROCESSES

Adapting internal IT and data processes to accommodate the data requirements across IFRS 9

SECONDARY IMPACTS OF IFRS 9

Reviewing the secondary impacts on other business areas of implementation of IFRS 9 requirements

Neil Wannop

Head of Accounting
Development

Guido Sopp

Accounting Expert

Austrian Financial Market Authority

EXPECTED CREDIT LOSS MODEL

A supervisory perspective of the IFRS 9 expected credit loss model

Lloyds Banking Group

Claudia Eusebio

Director, Accounting Policy
& Advisory Group

Vivien Brunel

Head of Risk & Capital
Modelling

PROVISION MODELS

The practical implications of building provision models with flexible parameters for determining expected losses

  • Deutsche Bank
  • Societe Generale

DISCLOSURE REQUIREMENTS

Tackling the disclosure requirements of IFRS 9

Oliver Fiala

Head of Group
Credit Risk

Wolfgang Reitgruber

Deputy and FVP in Group Credit Risk Modelling

UniCredit S.p.A.

FORWARD LOOKING SCENARIOS

Developing multiple forward looking scenarios and implementing a forward looking view of impairment to align with economic forecasts

Volksbank

Julian Parkin

Head of Regulatory & Statutory Portfolio, Finance Change

Carol Lynch

Head of Impairment Analysis & Reporting, IFRS 9 & Impairment Unit

Bank of Ireland

IFRS 9 & BASEL III

Consistency of IFRS 9 requirements with Basel III

BUSINESS BEHAVIOUR & RUNNING OF THE BUSINESS

Royal Bank of Scotland

The effect of IFRS 9 on business behaviour and running of the business

Co-sponsor

#IFRS9

www.cefpro.com/ifrs9

IFRS 9 IMPAIRMENT & IMPLEMENTATION | 20-21 SEPTEMBER, 2016 | LONDON

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IFRS 9 IMPAIRMENT & IMPLEMENTATION | 20-21 SEPTEMBER, 2016 | LONDON

12.30 LUNCH BREAK & NETWORKING

AGENDA

13:30 IFRS 9 expected credit loss model – a supervisory perspective

• Impacts for credit risk management • Main supervisory issues and concerns • Key aspects of the Basel guidance on accounting of expected credit losses
• Potential effects for regulatory measures

Guido Sopp, Accounting Expert, Austrian Financial Market Authority

DAY ONE 20 SEPTEMBER

|

08.15 REGISTRATION & COFFEE 08.35 CHAIR’S OPENING REMARKS

PANEL DISCUSSION

08:45 Interpreting the standards set and understanding principle based terms

• Implementation in practice

• Defining terms of principles

14:00 Expected loss model for impairment accounting: Real challenges in the journey towards compliance & beyond

• IASB’s IFRS 9 Impairment Accounting Approach: Rocky road ahead!

• Non-Convergence between IASB and FASB: Adding fuel to fire! • Transition from IAS 39 to IFRS 9: Are banks ready for the first mile stone?
• IFRS 9 knowledge pool: Slowing down the pace?

• Cross functional alignment: Key to Success!

• IT Solutioning: Is this an opportunity to overhaul systems?

Srinivasan Varadarajan, Global Head – Banking & Financial

Services Practice, Tata Consultancy Services

• Measurement for principles • Meeting regulatory expectations

Claudia Eusebio, Director, Accounting Policy & Advisory

Group, Deutsche Bank

Wolfgang Reitgruber, Deputy and FVP in Group Credit Risk

Modelling, UniCredit S.p.A.

Dooshyant Beekarry, Senior Vice President, Accounting Policy, EMEA Finance, Citigroup Christian Duesterberg, Head of Risk Methods & Models,

Erste Group Bank

DOUBLE SESSION

09.30 Understanding the broader implications of the

IFRS 9 classification and measurement approach

14:30 The practical implications of building provision models

with flexible parameters for determining expected losses

• Effect on balance sheet • Differences between Basel & IFRS • Accounting for staging parameters • Calculating expected credit loss models • Parameters in determining PD on lifetime view • Local GAAP versus IFRS

• Stressing asset classifications • Mapping to new classifications

• Impact on business model • SPPI: Fair value criteria & amortised cost

Claudia Eusebio, Director, Accounting Policy & Advisory

Group, Deutsche Bank

Stuart Preston, Project Manager, IFRS 9 Classification and

Measurement, Deutsche Bank

Oliver Fiala, Head of Group Credit Risk, Volksbank

15.00 AFTERNOON REFRESHMENT BREAK & NETWORKING
10.30 MORNING REFRESHMENT BREAK & NETWORKING

15:30 Implementing IFRS9 impairment – key challenges and collected impressions
11:00 Reviewing the secondary impacts on other business areas of implementation of IFRS 9 requirements

• Integration with other areas:

• BCBS 239; forecasting; stress testing; models and processes

• Third order impacts: Credit risk management, pricing • Capital impact/management • Impact on business decisions • Effect on challenger banks

Christian Duesterberg, Head of Risk Methods & Models, Erste

Group Bank

• Overall process and IT challenges • Staging criteria

• POCI and modifications

• Impairment of securities

• PD profiles for ECL modeling

• Key success factors gathered from IFRS 9 implementation projects

Lars Meyer, Senior Manager, zeb

16:00 Embedding IFRS 9: Developing the impairment operating model end to end

• Documenting the ‘As is’ and designing the ‘To be’

• Developing effective and efficient governance across business, risk and finance functions.

• Integrating IFRS 9 Impairment Models into the operating model • Developing/integrating systems, data and control solutions. • Documentation requirements, upskilling and communications.

Carol Lynch, Head of Impairment Analysis & Reporting, IFRS 9 & Impairment Unit, Bank of Ireland

11:30 Adapting internal IT and data processes to accommodate the data requirements across IFRS 9 requirements

• Organisation of data • Extension of data sources • Using data across jurisdictions and formats • Provisioning revolving products under IFRS 9

• Compatibility with BCBS 239 data requirements

Kally Dilip, IFRS 9 Programme Manager, Group Finance,

Lloyds Banking Group

16:30 Challenges for measuring lifetime PDs on retail portfolios

• Review of possible approaches • Setting modeling standards • Cure rate modeling

12:00 Interdependencies between IFRS 9 Impairment and regulatory capital

• How does (Live time) ECL effect regulatory capital?

• Similarities and differences between regulatory ECL and IFRS 9
ECL

Vivien Brunel, Head of Risk & Capital Modelling, Societe Generale

• Expected credit loss shortfall and IFRS 9 – a possible scenario? • Can IFRS 9 ECL improve the regulatory capital ratio?

Andreas Huthmann, Member of The Board, FAS AG

17.00 CHAIR’S CLOSING REMARKS 17.10 END OF DAY ONE & DRINKS RECEPTION

IFRS 9 IMPAIRMENT & IMPLEMENTATION | 20-21 SEPTEMBER, 2016 | LONDON

AGENDA

DAY TWO 21 SEPTEMBER

|

  • 08.30 REGISTRATION & COFFEE
  • 13.15 “Just when you thought it was safe to go back into

the water…”: The strategic impact of IFRS 9
08.50 CHAIR’S OPENING REMARKS

•••••
Complexity, opacity, volatility and incomparability: How does

the investor market view IFRS 9?

09.00 Tackling the disclosure requirements of IFRS 9

Procyclicality: Why do some people think IFRS 9 is not

procyclical?

••••••
Building capability and frameworks What disclosures say about business Data sets - what they will look like Governance
More LEL, less UL: How does IFRS 9 impact regulatory

solvency?

Good business made to look bad: Which businesses will be

impacted most by IFRS 9?

Hedge and Churn: What can be done to mitigate the negative

impacts of IFRS 9?

Reporting multiple scenarios Explaining to shareholders, regulators and analysts

Neil Wannop, Head of Accounting Development, Lloyds

Banking Group

Adrian Docherty, Head of Bank Advisory, BNP Paribas

DOUBLE SESSION
PANEL DISCUSSION

13.45 Effect of IFRS 9 on business behaviour and running of the business
09.30 Developing multiple forward looking scenarios as required under IFRS 9 calculations

••••••••
Early engagement with business Embedding in business Management understanding Larger data requirements Governance structure What businesses IFRS 9 will encourage or penalize Capital effects IFRS 9 capital or Basel
••••••
Governance structure to ensure common usage Economic scenarios accuracy Comparability across banks of internal scenarios Capacity to operate under multiple scenarios Distinguishing uncertainty over loss projections Probability weighting of IFRS 9 scenarios

Alan Burke, Head of Risk Measurement, Santander Vivien Brunel, Head of Risk & Capital Modelling, Societe Generale
Julian Parkin, Head of Regulatory and Statuary Portfolio,

Finance Change, Royal Bank Of Scotland

Samantha Cunningham, Head of Impairment – IFRS 9 Project, AIB

10.15 MORNING REFRESHMENT BREAK & NETWORKING 10.45 Implementing a forward looking view of impairment to align with economic forecasts
14.45 AFTERNOON REFRESHMENT BREAK & NETWORKING

•••

•

•••••
Forward looking parameters

15.15 Integrating risk and finance systems to achieve an

Looking across jurisdictions

aligned IFRS 9 process

Stressing scenario and taking average

Opportunity to tweak results - accuracy?

Fitting regulatory stress tests into an IFRS 9 framework One year PD is lifetime PD
• Contrasting existing and IFRS9 compliant provisioning • Comparing Impairment in Risk and Accounting systems • Harmonizing Data Inputs to Risk and Accounting systems

• Creating an integration team across risk, finance, treasury and

business streams

• Creating a flexible process that can adapt and learn from

experience.
Can you amend existing IRB models How non IRB banks approach IFRS 9 I year and lifetime provisions

Diana Kapsa, Head of Credit Methodology Retail, UBS

Brandon Davies, Board Director, Obillex Limited, Former Head of Market Risk, Barclays

11.15 Data governance and end-to-end automation:

Leveraging IFRS 9 technology to benefit the business

CLOSING PANEL DISCUSSION

  • •
  • The state of data: Granularity, quality, enrichment and

validation Data governance: Data journeys, optimised data lineage, data visualisation End-to-end automation: Industrialising the process Leveraging technology to meet IFRS 9 requirements and gain competitive advantage

15.45 Reviewing progress as the industry looks towards parallel runs

•
• Additional disclosures by year end

• Producing robust numbers
•

•
• Reviewing how long to conduct parallel runs

• Impact on financial statements

• Market changes

Diana Kapsa, Head of Credit Methodology Retail, UBS Dooshyant Beekarry, Senior Vice President, Accounting Policy, EMEA Finance, Citigroup
Sufyan Khan, Head of Pre Sales EMEA, AxiomSL

11.45 Consistency of IFRS 9 requirements with Basel III

•

•

••

•

Challenges in Credit Risk Steering

16.30 CHAIR’S CLOSING REMARKS & END OF SUMMIT

IFRS 9 and Basel models – convergence or divergence?

Introduction of impact risk Calibration of IFRS 9 impairment

IFRS scenario management – to back test or not?

BRING THE TEAM

Wolfgang Reitgruber, Deputy and FVP, Group Credit Risk

Modelling, UniCredit S.p.A.

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  • List of Market Makers and Authorised Primary Dealers Who Are Using the Exemption Under the Regulation on Short Selling and Credit Default Swaps

    List of Market Makers and Authorised Primary Dealers Who Are Using the Exemption Under the Regulation on Short Selling and Credit Default Swaps

    Last update 11 August 2021 List of market makers and authorised primary dealers who are using the exemption under the Regulation on short selling and credit default swaps According to Article 17(13) of Regulation (EU) No 236/2012 of the European Parliament and of the Council of 14 March 2012 on short selling and certain aspects of credit default swaps (the SSR), ESMA shall publish and keep up to date on its website a list of market makers and authorised primary dealers who are using the exemption under the Short Selling Regulation (SSR). The data provided in this list have been compiled from notifications of Member States’ competent authorities to ESMA under Article 17(12) of the SSR. Among the EEA countries, the SSR is applicable in Norway as of 1 January 2017. It will be applicable in the other EEA countries (Iceland and Liechtenstein) upon implementation of the Regulation under the EEA agreement. Austria Italy Belgium Latvia Bulgaria Lithuania Croatia Luxembourg Cyprus Malta Czech Republic The Netherlands Denmark Norway Estonia Poland Finland Portugal France Romania Germany Slovakia Greece Slovenia Hungary Spain Ireland Sweden Last update 11 August 2021 Austria Market makers Name of the notifying Name of the informing CA: ID code* (e.g. BIC): person: FMA ERSTE GROUP BANK AG GIBAATWW FMA OBERBANK AG OBKLAT2L FMA RAIFFEISEN CENTROBANK AG CENBATWW Authorised primary dealers Name of the informing CA: Name of the notifying person: ID code* (e.g. BIC): FMA BARCLAYS BANK PLC BARCGB22 BAWAG P.S.K. BANK FÜR ARBEIT UND WIRTSCHAFT FMA BAWAATWW UND ÖSTERREICHISCHE POSTSPARKASSE AG FMA BNP PARIBAS S.A.
  • Curr Bank Swift/BIC AUD Australia and New Zealand Banking Group Limited, Docklands ANZB AU 3M AUD Commonwealth Bank of Austral

    Curr Bank Swift/BIC AUD Australia and New Zealand Banking Group Limited, Docklands ANZB AU 3M AUD Commonwealth Bank of Austral

    SSI Information Curr Bank Swift/BIC AUD Australia and New Zealand Banking Group Limited, Docklands ANZB AU 3M AUD Commonwealth Bank of Australia, Sydney CTBA AU 2S CAD Bank of Montreal, Montréal BOFM CA M2 CAD The Bank of Nova Scotia, Toronto NOSC CA TT CAD The Toronto-Dominion Bank, Toronto TDOM CA TT CHF Credit Suisse AG, Zürich CRES CH ZZ 80A CHF Isbank AG, Zürich ISBK DE FX ZUR CHF UBS AG, Zürich UBSW CH ZH 80A CHF Zürcher Kantonalbank, Zürich ZKBK CH ZZ 80A DKK Danske Bank A/S, Copenhagen DABA DK KK DKK Nordea Bank Danmark A/S, Copenhagen NDEA DK KK EUR BANCA MONTE DEI PASCHI DI SIENA, Siena PASC IT MM EUR Banco Bilbao Vizcaya Argentaria SA, Bilbao BBVA ES MM EUR Banco Comercial Português SA, Porto BCOM PT PL EUR BANCO POPULAR ESPANOL, Madrid POPU ES MM EUR BANCO SANTANDER CENTRAL HISPANO S.A., Boadilla del Monte BSCH ES MM EUR Bank of Ireland, Dublin BOFI IE 2D EUR BNP Paribas SA, Paris BNPA FR PP EUR Citigroup Global Markets Deutschland AG, Frankfurt am Main CITI DE FF EUR Commerzbank AG, Frankfurt am Main COBA DE FF EUR Crédit Agricole SA, Montrouge AGRI FR PP EUR Deutsche Bank AG, Frankfurt am Main DEUT DE FF EUR Erste Group Bank AG, Vienna GIBA AT WG EUR ING Belgium SA/NV, Brussels BBRU BE BB 010 EUR Intesa Sanpaolo SpA BCIT IT MM EUR Isbank AG, Amsterdam ISBK NL 2A EUR Isbank AG, Frankfurt am Main ISBK DE FX EUR Isbank AG, Paris ISBK FR PP EUR KBC Bank NV, Brussels KRED BE BB EUR Landesbank Baden-Württemberg, Stuttgart SOLA DE ST EUR Natixis, Paris NATX FR PP EUR Raiffeisen Bank International AG, Vienna RZBA AT WW EUR Société
  • Erste Group Bank AG Tailored Resolution Plan Public Section

    Erste Group Bank AG Tailored Resolution Plan Public Section

    Erste Group Bank AG Tailored Resolution Plan Public Section December 2015 Summary of Resolution Plan 1. Introduction Section 165(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank Act”) requires systemically important financial institutions that conduct business in the United States (“U.S.”) to file resolution plans with U.S. regulators. Section 165(d) has been implemented through regulations of the Board of Governors of the Federal Reserve System (“FRB”) and the Federal Deposit Insurance Corporation (“FDIC”) that require a foreign-based covered company to provide detailed information about its entities and activities in the U.S., including the process by which those entities and activities would be resolved in the event of the company’s material distress or failure (“Regulations”).1 Pursuant to the Regulations, Erste Group Bank AG (“EGB”), as a covered company, is required to develop a resolution plan and has been approved to file a tailored resolution plan (the “Plan”). The following discussion provides interested members of the public with an overview of the key elements of EGB’s Plan. 2. EGB and its U.S. Operations EGB Business activities and overall structure of the institution EGB is a banking group focused on retail and corporate customers in Austria and Central and Eastern Europe (“CEE”). EGB offers its customers a broad range of services that, depending on the particular market, includes deposit and current account products, mortgage and consumer finance, investment and working capital finance, private banking, investment banking, asset management, project finance, international trade finance, trading, leasing and factoring.
  • TFP Vienna Participants List

    TFP Vienna Participants List

    PARTICIPANTS LIST Karmen Margaryan Horst Hirsch David Heynes ACBA-Credit Agricole Bank CJSC, Armenia Accuity, Germany Accuity, United Kingdom [email protected] [email protected] [email protected] Biljana Jacimovic Borka Erceg Maja Arsin Addiko bank a.d. Banja Luka, Bosnia and Addiko Bank A.D. Beograd, Serbia Addiko Bank A.D. Beograd, Serbia Herzegovina, Bosnia and Herzegovina [email protected] [email protected] [email protected] Aleksandar Konatar Danijela Stojaković Csongor Nemeth Addiko Bank AD Podgorica, Montenegro Addiko Bank AG, Croatia Addiko Bank AG, Austria [email protected] [email protected] [email protected] Željko Đukanović Sanja Pasqualin Lenard Ivana Rajndl Addiko Bank AG, Austria Addiko Bank AG, Croatia Addiko Bank AG Vienna, Austria [email protected] [email protected] [email protected] Marija Vučina Vanja Kojzek Indira Enkhbayar Addiko bank d.d., Sarajevo, Bosnia and Addiko Bank d.d., Slovenia, Slovenia Agricultural Bank of China, Luxembourg Herzegovina [email protected] [email protected] [email protected] Stephanie Meier-Sydow Artemis Perogianni Athanasios Pavlidis AKA Bank, Germany Alpha Bank, Greece Alpha Bank, Greece [email protected] [email protected] [email protected] Tudor Taslaoanu Ahmet Kinalisoy Sakir Sömek Alpha Bank Romania S.A., Romania Alternatifbank, Turkey Alternatifbank, Turkey [email protected] [email protected] [email protected]
  • Erste Group Bank AG EUR 2,000,000,000 Additional Tier 1 Notes Programme

    Erste Group Bank AG EUR 2,000,000,000 Additional Tier 1 Notes Programme

    Erste Group Bank AG (Incorporated as a stock corporation in the Republic of Austria under registered number FN 33209 m) EUR 2,000,000,000 Additional Tier 1 Notes Programme Under this Programme (the "Programme"), Erste Group Bank AG (the "Issuer" or "Erste Group Bank”), subject to compliance with all relevant laws, regulations and directives, may from time to time issue direct, unsecured and subordinated debt securities constituting Additional Tier 1 instruments pursuant to Article 52 of the Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (Capital Requirements Regulation, as amended from time to time, the "CRR"), as further specified in the relevant Final Terms (as defined herein) in the English language under German law (the "Notes"). The Programme foresees two different options of terms & conditions under which Notes may be issued depending on the type of distribution which applies to the Notes as specified in the Final Terms. Accordingly, the following types of Notes may be issued under the Programme: (i) Notes which commence with a fixed distribution rate which is superseded by a different fixed distribution rate (Option I), and (ii) Notes which commence with a fixed distribution rate which is superseded by a floating distribution rate (Option II). The Notes will have a perpetual term and a minimum denomination of EUR 100,000 (or the equivalent in other currencies). The aggregate principal amount of Notes outstanding (i.e. Notes not redeemed) will not at any one time exceed EUR 2,000,000,000 (or the equivalent in other currencies).