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Summary
After 15 years of regulatory reforms in the banking sector, some lending business is increasingly moving to private credit firms and other non-bank financial institutions that lie outside the prudential regulation and supervision of banks. Policymakers are scrutinizing this trend, the buildup of risk in the private credit sector, and the interconnection with banks.
Join us on the latest webinar in the EBF & S&P Global Market Intelligence series, with policymakers, analysts and fund managers, where we will ask, is this trend continuing? What types of lending are NBFIs doing? And what are the risks involved?
Moderator
S&P Global Market Intelligence
Claire Wilson
News Desk Manager, Private Equity & Real Estate
Speakers
European Commission
Emiliano Tornese
Head of Macroprudential Policy and EU Financial Systems
Emiliano Tornese is Head of the Macroprudential Policy Unit and Acting Head of EU/Euro area financial system Unit in the European Commission’s DG for Financial Stability, Financial Services and Capital Markets Union (DG FISMA).
He is Visiting Professor at the College of Europe (Bruges) and Part-time Professor at the Florence School of Banking and Finance (European University Institute). Previously, he was Financial and Economic Advisor in the Cabinet of the Italian Prime Minister (Sherpa Office) during the Italian G20 and G7 Presidencies, and Deputy Head of the Financial Markets Infrastructure Unit.
As Deputy Head of the Resolution and Crisis Management Unit, he was responsible for the negotiations on the creation of the Banking Union, and the establishment of the Single Resolution Board (SRB). He also worked for the European Commission’s Securities Markets Unit and, during his tenure, was responsible for the establishment of the European Securities and Markets Authority (ESMA) and for matters related to its Corporate Finance Standing Committee.
As Secretary of the European Securities Committee, he coordinated the European Union’s Ministries of Finance in their regulatory capacity for financial services. He drafted and negotiated the review of the primary and secondary markets regulation and the regulation of benchmarks. And he advised the European Financial Stability Facility (EFSF) on the primary markets regulation.
S&P Global Ratings
Paul Watters
Head of Credit Research EMEA
Paul Watters is Head of European Credit Research for S&P Global Ratings. Since 2017 he has been the chair of S&P’s European Credit Conditions Committee where senior analysts and economists examine macro credit trends and risks factors that may broadly impact Credit Ratings.
Prior to his current role Paul has held various senior product development, analytical, and research roles within S&P’s Leveraged Finance Group since joining S&P in January 2002, that included being a primary analyst for a portfolio of high yield credits in the metals and mining, chemicals, and oil and gas sectors.
Previous to S&P, Paul spent almost fifteen years working in debt capital markets in various senior trading and research roles with both Lehman Brothers and Nomura International.
Paul is a CFA Charterholder, and a Fellow of the Association of Corporate Treasurers.
Questions?
Please contact us if you need more information or have trouble accessing the webinar.