DoubleTree by Hilton Hotel THE EUROFI FINANCIAL FORUM 2016 Organised in association with the Slovak EU Council Presidency Bratislava DoubleTree by Hilton Hotel
 7,8 & 9 September 2016
 Draft agenda Speakers 29.08.2016

Eurofi Financial Forum 2016 - Bratislava Overall agenda - Draft Wednesday 7 September 2016 Thursday 8 September 2016 Friday 9 September 2016 Addressing vulnerabilities in the financial system Deepening the EMU & the global context 08:15-08:45 Exchange of views: Key vulnerabilities in the EU financial system Exchange of views with members of the Eurogroup Deepening the EMU: is it a priority and what are the conditions? 08:00-08:45 Should the governance and functioning of the Eurozone and the EU change following the Brexit vote? Improving the resilience of market based finance (systemic risks associated with asset management, SFT, MMFs…) Next steps after the call for evidence regarding capital market activities (EMIR review, fund frameworks…) 08:45-09:55 08:45-09:55 Exchange of views: Challenges posed by lasting ultra low interest rates for financial markets 09:55-10:15 Resilience of capital markets Improving systemic risk policy in the insurance industry 09:55-11:05 Conditions for moving towards an EDIS How far should securities post-trading harmonisation go? 10:20-11:30 11:30-11:50 Exchange of views: Impacts of Volatility and liquidity trends and impacts on the financial system Capital market data harmonisation and sharing at the EU and global levels Encouraging long-termism in the financing of the economy (accounting, regulatory, tax, governance issues) 11:30-12:40 11:50-12:30 ESAs: key challenges ahead ESAs: key challenges ahead Exchange of views : Securities market infrastructure 12:40-13:00 REGISTRATIONS BUFFET LUNCH BUFFET LUNCH Funding the EU economy New trends Opening remarks: Gov Makuch: EU financial services: priorities of the EU Presidency and key challenges D. Nouy - Resilience and competitiveness of Eurozone banks in the global context 13:00-13:30 CMU 1 year on: is it up to speed and what potential impact from Brexit? 13:45-15:00 13:30-14:10 Exchange of views Banking Union: are the benefits being achieved? Leveraging fintech in developing EU capital markets financing (crowd-investment, robo-advice…) Enhancing the financial sector’s contribution to the transition to a low carbon economy 15:05-16:15 14:10-15:30 Challenges posed to the EU by the CRR II/CRDV (NSFR, Leverage ratio, FRTB) Developing capital markets in CEE Consumer challenges raised by digital transformation in the banking and insurance industry (payments, business models…) Key new trends Addressing key legal and fiscal obstacles to CMU (insolvency, debt/equity bias, taxation,…) 16:20-17:30 15:30-16:50 Forthcoming Basel regulations on Credit, Operational risk, FRTB weightings: overall impacts for EU banks and their customers Exchange of views : The fight against terrorism financing, money laundering and tax evasion 17:45-18:15 17:15-17:45 Exchange of views Implementing TLAC in EU legislation Exchange of views: Defining EU common European positions and EU representation in global fora 18:15-18:30 Implementation challenges of EU banking resolution tools Leveraging the role of asset management in funding the economy 17:45-19:00 Keynote speech: outlook for the EU financial market 18:30-18:45 19:00-20:00 Securitisation: is the EU’s level of ambition sufficient? Impacts of Brexit for the EU financial sector 18:45-20:00 COCKTAIL 20:00-20:45 20:00-21:30 COCKTAIL GALA DINNER Keynote speech 20:45-22:30

Eurofi Financial Forum 2016 – Bratislava Banking and Capital Markets Union challenges Wednesday 7 September 2016 REGISTRATION Opening remarks: Governor J. Makúch: EU financial services: priorities of the EU Presidency and key challenges Keynote speech: D. Nouy (SSM): Resilience and competitiveness of Eurozone banks in the global context 13:00-13:30 Exchange of views Banking Union: are the benefits being achieved? D. Wright with J. Lemierre (BNP Paribas), D. Nouy (SSM), E. König (SRB), V. Dvořáček (National Bank of Slovakia) and R. Ophèle (Banque de France) 13:30-14:10 Challenges posed to the EU by the CRR II/CRDV Chair: A. Enria (EBA) Industry speakers: Barclays (D. Harland), ING (K. Timmermans), KPMG (G. Williams), Standard Chartered (R. Mingay) Public authority speakers: MEP (O. Karas), Bafin (F. Hufeld), ACPR (E. Fernandez-Bollo), Dutch Central Bank (P. Hilbers) Developing capital markets in CEE Chair: P. Kubricky (Bratislava Stock Exchange) Industry speakers: Unicredit (A. Diamanti), Prague Stock Exchange (P. Koblic) Public authority speakers: Central Bank of Hungary (G. Butor), EIB (D. Revoltella), MEP (P. Ježek) 14:10-15:30 Forthcoming Basel regulations on Credit, Operational risk, FRTB weightings: overall impacts for EU banks and their customers Chair: J. Berrigan (EU Commission (DG FISMA) Industry speakers: Caixa (J. Gual), DSGV (K.P. Schackmann-Fallis), HSBC (J. Chew), BNP Paribas (P. Bordenave), Nykredit (D. Sorensen) Public authority speakers: ACPR (E. Fernandez-Bollo), BaFin (F. Hufeld), Bank of Spain (J. Duran), MEP (M. Theurer), 15:30-16:50 Exchange of views: Implementing TLAC in EU legislation Chair: D. Wright Industry speakers: Credit Agricole (P. Emin) Public authority speakers: SRB (E. König), EU Commission (J. Berrigan), L. Holle (Finance Ministry of Germany), C. Bavagnoli (Finance Ministry of France) 17:15-17:45 Implementation challenges of EU banking resolution tools Chair: E. Ferreira (Central Bank of Portugal) Industry speakers: Unicredit (A. Maccario), BBVA (JM Gonzalez- Paramo), S&P (A. Birry) Public authority speakers: SRB (E. König), Banque de France (R. Ophèle), ESM (R. Strauch), DG Comp (GJ Koopman) Leveraging the role of asset management in funding the economy Chair: G. Everts (AFM) Industry speakers: Capital Group (I. Levine), Credit Suisse (O. Adler), Blackrock (J. Cound) Public authority speakers: MEP (N. Gill), AMF (G. Eliet) Expert: Better Finance (G. Prache) 17:45-19:00 Securitisation: is the EU’s level of ambition sufficient? Chair: M. Heijdra (Dutch Ministry of Finance) Industry speakers: BoFAML (A. Batchvarov), Moody's, (K. Frey), Natixis (E. Lefort) Public authority speakers: MEP (P. Tang), French Finance Ministry (S. Raspiller) 19:00-20:00 20:00-21:30 COCKTAIL

Eurofi Financial Forum 2016 – Bratislava Addressing vulnerabilities in the financial system Thursday 8 September morning Exchange of views: Key vulnerabilities in the EU financial system Chair: D. Wright Public authority speakers: G. Gelos (IMF), F. Mazzaferro (ESRB), P. Tucker 08:15-08:45 Improving the resilience of market based finance (systemic risks associated with asset management, SFT, MMFs…) Chair: P. Tucker Industry speakers: State Street (S. Gavell), Fidelity (U. Funered), Federated (D. Gepp), Axa IM (S. Janin) Public authority speakers: Malta FSA (J.V. Bannister), Central Bank of Ireland (C. Roux), MEP (N. Gill), SEC (P. Leder) Next steps after the call for evidence regarding capital market activities (EMIR review, fund frameworks…) Chair: S. Maijoor (ESMA) Industry speakers: Deutsche Börse (A. Hachmeister), BP2SS (L. Caron-Habib), Amundi (F. Bompaire) Public authority speakers: MEP (B. Kappel), EU Commission (M. Spolc), Consob (N. Giusto) 08:45-10:00 Resilience of capital markets Chair: M. Bayle (ECB) Industry speakers: BNY Mellon (D. Crisp), ICE (P. Swann), JPMorgan (S. O’Connor) Public authority speakers: CFTC (J. Bandman), Dutch Central Bank (C. Voormeulen), Banque de France (D. Beau) Improving systemic risk policy in the insurance industry Chair: G. Bernardino (EIOPA) Industry speakers: Metlife (J. Engelhard ), Allianz (M. Baumgaertel), Swiss RE (N. Arquint), AXA (C. Thimann) Public authority speakers: IAIS (Y. Kawai), MEP (B. Balz), IVASS (A. Corinti), Bafin (F. Hufeld), IMF (G. Gelos) 10:00-11:15 Exchange of views: Impacts of Volatility and liquidity trends on the financial system D. Wright with A. Wilmot Sitwell (BoFAML) & D. Beau (Banque de France) 11:15-11:35 ESAs: key challenges ahead Chair: D. Wright Public authority speakers: ESMA (S. Maijoor), EBA (A. Enria) EIOPA (G. Bernardino) 11:40-12:30 BUFFET LUNCH

Eurofi Financial Forum 2016 – Bratislava New trends Thursday 8 September - afternoon CMU 1 year on: is it up to speed and what potential impact from Brexit? Chair: B. Balz (MEP) Industry speakers: Crédit Agricole (J. Brunel), Euronext (S. Boujnah), Goldman Sachs (M. Doyon) , Barclays (C. Allen) Public authority speakers: MEP (P. Zalba Bidegain, P. Ježek), Ministry of Finance France (C. Bavagnoli), National Bank of Slovakia (J. Čillíková), EU Commission (J. Berrigan) 13:45-15:00 Leveraging fintech in developing EU capital markets financing (crowd-funding, peer to peer, robo-advice…) Chair: M. Truchet (Eurofi) Industry speakers: Nasdaq (H. Husman), BBVA (T. Paavola), UBS (V. Lange) Public authority speakers: ESMA (V. Ross), EU Com /DG Connect (P. Zilgalvis), FCA (D. Geale) Expert: Euro Investors (N. Lemmers) Enhancing the financial sector’s contribution to the transition to a low carbon economy Chair: J. Taylor (EIB) Industry speakers: AXA (C. Thimann), ICO, CdP (E. Reviglio), Zurich Insurance (G. Miller), Moody’s (M. Madelain) Public authority speakers: EU Com (B. Angel, G. Thomas), MEP (P. Tang) 15:05-16:15 Consumer challenges raised by digital transformation in the financial industry Chair: P. Zilgalvis (EU Com /DG Connect) Industry speakers: Zurich Insurance (K. Gray), Western Union (J. Dye), ING (K. Timmermans) , PwC (S. Davies) Public authority speakers: ACPR (S. Lemery), EBA (D. Haubrich), EIOPA (F. Parente) Expert: Better Finance (G. Prache) Addressing key legal and fiscal obstacles to CMU (insolvency, debt/equity bias,…) Chair: K. Swinburne (MEP) Industry speakers: BNY Mellon (J. Duffy), BlackRock (J. Cound), Tradition (V. Remay) Public authority speakers: EU Commission (J. Berrigan), MEP (M. Ferber), FSMA (J-P. Servais), AMF (G. Eliet) 16:20-17:30 Exchange of views: The fight against terrorism financing, money laundering and tax evasion Chair: D. Wright Industry speakers: BoFAML (G. Lynch), HSBC (D. Flint) Public authority speakers: EU Presidency (R. Turok-Heteš) 17:45-18:15

Impacts of Brexit for the EU financial sector Eurofi Financial Forum 2016 – Bratislava New trends Thursday 8 September - afternoon Continuation of 8 September afternoon Exchange of views: Defining common European positions and EU representation in global fora MEP (S. Goulard) with FSC (V. La Via) & Finance Ministry Germany (L. Holle) 18:15-18:30 Keynote speeches: outlook for the EU financial market EU Commission (V. Dombrovskis) 18:30-18:45 Impacts of Brexit for the EU financial sector Chair: D. Wright Industry speakers: Sponsors : JP Morgan (V. Grilli), BNY Mellon (M. Cole-Fontayn) Public authority speakers: S. Goulard (MEP), T. Wieser (EFC), A. Dombret (Bundesbank), Prof E. Scicluna (Min Fin Malta) 18:45-20:00 COCKTAIL 20:00-20:45 GALA DINNER Keynote speech P. Kazimír 20:45-22:30

Eurofi Financial Forum 2016 – Bratislava Deepening the EMU & the global context Friday 9 September Exchange of views with members of the Eurogroup: Deepening the EMU: what are the conditions? Chair: K. Regling (ESM) Public authority speakers: Min Fin of Italia (C.P. Padoan), EU Presidency (P. Kazimír), Min Fin of Luxembourg (P. Gramegna) 08:00-08:45 Should the governance and functioning of the Eurozone and the EU change following the Brexit vote? Chair: D. Wright Industry speakers: Deutsche Bank (S. Matherat), BBVA (JM Gonzalez- Paramo), Soc Gen (L. Bini Smaghi), Public authority speakers: Banque de France (F. Villeroy de Galhau), MEPs (R. Gualtieri, M. Ferber), Banca d’Italia (I. Visco), Central Bank of Finland (E. Liikanen) 08:45-09:55 Exchange of views: Challenges posed by ultra-low interest rates Chair: D. Wright Industry speakers: C. Ellis (Moody’s) Public authority speakers: E. Nowotny (Central Bank of Austria) & Y. Mersch (ECB) 09:55-10:15 Conditions for moving towards an EDIS Chair: E. König (SRB) Industry speakers: Santander (JM Campa), Banque Postale (F. Lustman), DSGV (K.P. Schackmann-Fallis) Public authority speakers: Bundesbank (A. Dombret), Central Bank of Malta (M. Vella), MEP (E. de Lange), Central bank of Estonia (M. Müller) Expert: Finance Watch (C. Nijdam) How far should securities post-trading harmonisation go? Chair: Y. Mersch (ECB) Industry speakers: Euroclear (M A. Autheman ), Caceis (E. Derobert), BME (C. López Marqués) Public authority speakers: EU Com (M. Spolc), MEP (K. Swinburne), ESMA (V. Ross), Bundesbank (J. Metzger) 10:20-11:30 Capital market data harmonisation and sharing at the EU and global levels Chair: C. Crowley (US OFR) Industry speakers: DTCC (L. Thompson), Swift (S. Lindsay) Public authority speakers: IOSCO (T. Singh), ECB (M. Bayle), Banca d’Italia (E. Zautzik), National Bank of Greece (K. Botopoulos) Encouraging long-termism in the financing of the economy (accounting, regulatory, governance issues) Chair: P. Bérès (MEP) Industry speakers: CdC (L. Zylberberg), PwC, (C. Montalvo) Deka (M. Rüdiger), Public authority speakers: MEP (R. Gualtieri ), IASB (P. Danjou), EU Com (J. Berrigan), Bank of Spain (F. Restoy) Expert: JJ. Bonnaud 11:30-12:40 Exchange of views : Securities market infrastructure Chair: D. Wright Public authority speakers: ECB (Y. Mersch), ESMA (S. Maijoor) 12:40-13:00 BUFFET LUNCH

Eurofi Financial Forum 2016 – Bratislava Deepening the EMU & the global context Friday 9 September Exchange of views with members of the Eurogroup: Deepening the EMU: what are the conditions? Chair: K. Regling (ESM) Public authority speakers: Min Fin of Italia (C.P. Padoan), EU Presidency (P. Kazimír), Min Fin of Luxembourg (P. Gramegna) 08:00-08:45 Should the governance and functioning of the Eurozone and the EU change following the Brexit vote? Chair: D. Wright Industry speakers: Deutsche Bank (S. Matherat), BBVA (JM Gonzalez- Paramo), Soc Gen (L. Bini Smaghi), Public authority speakers: Banque de France (F. Villeroy de Galhau), MEPs (R. Gualtieri, M. Ferber), Banca d’Italia (I. Visco), Central Bank of Finland (E. Liikanen) 08:45-09:55 Exchange of views: Challenges posed by ultra-low interest rates Chair: D. Wright Industry speakers: C. Ellis (Moody’s) Public authority speakers: E. Nowotny (Central Bank of Austria) & Y. Mersch (ECB) 09:55-10:15 Conditions for moving towards an EDIS Chair: E. König (SRB) Industry speakers: Santander (JM Campa), Banque Postale (F. Lustman), DSGV (K.P. Schackmann – Fallis) Public authority speakers: Bundesbank (A. Dombret), Central Bank of Malta (M. Vella), MEP (E. de Lange), Central bank of Estonia (M. Müller) Expert: Finance Watch (C. Nijdam) How far should securities post-trading harmonisation go? Chair: Y. Mersch (ECB) Industry speakers: Euroclear (M A. Autheman ), Caceis (E. Derobert), BME (C. López Marqués) Public authority speakers: EU Com (M. Spolc), MEP (K. Swinburne), ESMA (V. Ross), Bundesbank (J. Metzger) 10:20-11:30 Capital market data harmonisation and sharing at the EU and global levels Chair: C. Crowley (US OFR) Industry speakers: DTCC (L. Thompson), Swift (S. Lindsay) Public authority speakers: IOSCO (T. Singh), ECB (M. Bayle), Banca d’Italia (E. Zautzik), National Bank of Greece (K. Botopoulos) Encouraging long-termism in the financing of the economy (accounting, regulatory, governance issues) Chair: P. Bérès (MEP) Industry speakers: CdC (L. Zylberberg), PwC, (C. Montalvo) Deka (M. Rüdiger), Public authority speakers: MEP (R. Gualtieri ), IASB (P. Danjou), EU Com (J. Berrigan), Bank of Spain (F. Restoy), Expert: JJ. Bonnaud 11:30-12:40 Exchange of views : Securities market infrastructure Chair: D. Wright Public authority speakers: ECB (Y. Mersch), ESMA (S. Maijoor) 12:40-13:00 BUFFET LUNCH

ABOUT EUROFI The European think tank dedicated to financial services A not-for-profit organization currently chaired by David Wright who succeeded Jacques de Larosière as Chairman in April 2016 A platform for exchanges between the financial services industry and the public authorities addressing issues related to the evolution of financial regulation and supervision and the economic and monetary context impacting the EU financial sector Main activities The main objectives of Eurofi are to help industry and public decision-makers reach a common understanding of possible evolutions required in the regulation and supervision of financial services and to open the way to legislative or industry-driven solutions that may enhance the safety and effectiveness of the EU financial sector and its contribution to economic growth. Eurofi acts in a general interest perspective, facilitating exchanges of views between diverse financial industry players and the public authorities. These discussions are prepared by objective fact finding and issue analyses. Eurofi has two main types of activities conducted by Didier Cahen, Secretary General of Eurofi, Jean-Marie Andrès and Marc Truchet, Senior Fellows: Events and meetings: Eurofi organizes annually two major international events (the High Level Seminar in March / April and the Financial Forum in September) gathering industry leaders and EU and international public decision makers for discussions on the major on-going regulatory projects in the financial area and the role of the financial sector in fostering growth as well as the economic and monetary environment. These events are regularly organised in association with the EU Presidencies in parallel with informal ECOFIN councils and in some cases with the G20 Presidencies. They are organised with the support of Virginie Denis and her team. Additional workshops involving the members of Eurofi are set up to exchange views on regulatory issues. Bilateral meetings are also regularly organised with representatives of the public authorities and other stakeholders (e.g. end-users, experts) to fine-tune assessments and proposals. Researchand documentation: Assessments and proposals taking into account economic, risk and end-user impacts are prepared with the support of cross-sectoral working groups comprising members of Eurofi. Topics addressed include prospective and on-going regulatory proposals at the EU and global levels, industry trends as well as the impacts for the financial sector of the economic challenges the EU is facing. Main topics currently addressed 111 Measures and instruments needed to ensure an appropriate financing of the EU economy: assessment of the economic challenges and of the impact of on-going monetary actions, measures to support bank financing (securitisation), diversification of the financing of SMEs and infrastructure projects, proposals for developing a long term investment perspective, climate change agenda Prospects of digitalisation and fintech: digital transformation in the banking and insurance industries, fintech and blockchain applications in the capital markets and investment, related regulatory challenges Prospects of further EU integration: implementation of the Banking Union, priorities for implementing a Capital Markets Union, possible evolution towards a fiscal union and further economic integration in the Eurozone, evolution of the EU regulatory and supervisory authorities (ESRB, ESAs). Optimizing the EU financial services internal market: payments, review of the IORP directive, regulation of CRAs, prospects of further banking integration and of digital banking Evolutions of the prudential and regulatory framework of banks and insurance companies: fine-tuning and implementation of banking and insurance prudential frameworks, recovery and resolution of banks and non-banks, culture and conduct measures Capital markets and investment product regulations: Capital Markets Union, regulation of securities, derivatives and commodities markets and infrastructures, recovery and resolution of CCPs, cybersecurity, SFT and collateral requirements, asset management regulations, investor protection regulation (PRIPs, MiFID, IMD…), regulation of shadow banking Financial regulation at the global level: feasibility of bank crisis management at the global level, coordination of capital markets regulations at the global level, systemicity of non-banks non-insurers EUROFI MEMBERS The membership of Eurofi comprises many leading global and European financial institutions from different sectors of the industry (banking, insurance, market infrastructures, asset management, credit rating agencies…). 9