9th Annual Spanish Funding Conference | afme

9th Annual Spanish Funding Conference

08 Feb 2018 Gran Melia Fenix Hotel, Madrid

Agenda

08:45

Registration and refreshments

09:30

Morning chair’s opening remarks
Richard Hopkin, Managing Director, Head of Fixed Income, Capital Markets, AFME

09:40

Morning keynote address: Funding growth in Spain

Keynote speaker: Pablo Zalba Bidegain, Chairman, Instituto de Crédito Oficial (ICO)
Moderator: Richard Hopkin, Managing Director, Head of Fixed Income, Capital Markets, AFME

10:10

Panel discussion: Developments in Spanish markets - ABS issuance, mortgage markets and marketplace lending

  • performance and outlook for the Spanish securitisation market and issuance
  • 2017 overview of the Spanish mortgage market and 2018 forecasts
  • legal challenges in the Spanish mortgage market and marketplace lending
  • financing non-bank lending through securitisation
  • are alternative lenders ready to go to the capital markets via securitisations and is the market prepared?

Moderator: Gordon Kerr, Head of EU Structured Finance Research, DBRS

Panellists:
Aitor Elustondo, General Manager, Savia Financiación
Rocío Sánchez Barrios, Public Policy Director, Spanish Banking Association (AEB)
Julio Soto, Director, Structured Finance, Banco Caminos
Yixin Zeng, Vice President, ABS Trading, Morgan Stanley

 

11:00

Networking break

11:25

Presentation: The EU securitisation framework - Moving from legislation to implementation and supervision

  • state of play
  • application of the new securitisation framework
  • overview and timelines of the EBA/ESMA mandates

Speaker:
Jana Kovalcikova, Policy Expert, Securitisation and Covered Bonds, European Banking Authority

11.45

Roundtable: Synthetic securitisation – solution for Spanish SMEs

  • capital calibrations on synthetic securitisation positions
  • outlook for SRT transactions in Spain: tendencies and regulation challenges
  • will the new CRR SEC-IRBA and SEC-SA allow banks to continue doing SRT trades in Spain?
  • how can STS for synthetics add value to the market?

Moderator: Steve Gandy, ‎Managing Director, Head of Private Debt Mobilisation, Notes and Structuring, ‎Santander Global Corporate Banking

Panellists:
Giuliano Giovannetti, President and CEO, Arch Mortgage Insurance
Pablo Sánchez González, Structured Finance Manager, European Investment Fund

12:15

Panel discussion: Outlook for European securitisation markets

  • impact of the new capital calibrations on securitisation positions
  • impact of the end of TLTRO and QE tapering 
  • STS and non-STS: What other products will we see on the European securitisation market? 
  • what challenges lie ahead?

Moderator: Anna Bak, Associate Director, Securitisation, AFME

Panellists:
Jana Kovalcikova, Policy Expert, Securitisation and Covered Bonds, European Banking Authority
Alexandre Linden, ‎Senior Transactor, Asset Finance and Securitisation, ‎BNP Paribas
Harry Noutsos, Global Head of ABS, ING Bank
Andrew South, Head of Fixed Income Research, EMEA, S&P Global Ratings

13:00

Networking lunch

14:00

Afternoon chair’s opening remarks
Victoria Webster, Director, Fixed Income, AFME

14:10

Afternoon keynote address: IOSCO's priorities in the context of market-based financing

Keynote speaker: Tajinder Singh, Deputy Secretary General, International Organisation of Securities Commissions, (IOSCO)
Moderator: Victoria Webster, Director, Fixed Income, AFME

14.40

Panel discussion: Covered bonds in a changing environment - implications for the Spanish market

  • harmonisation - what to expect from the EU covered bond harmonisation proposal
  • primary markets – the current issuer perspective on covered bonds as a funding tool 
  • secondary market - still a central banks' game? 
  • ESNs - a valuable addition to the funding toolkit of Spanish issuers? 
  • green and covered bonds - what are the benefits for issuers and investors?

Moderator: Agustín Martín, Head of European Credit Research, BBVA

Panellists:
Gregorio Arranz, Secretary General, Spanish Mortgage Association
Jordi Cabero Borrós, Co-Head FIG Trading, Banco Santander
Ana Galdo, ‎Associate Director, European Structured Finance, ‎S&P Global Ratings
Miguel García de Eulate, Head of Treasury and Capital Markets, Caja Rural de Navarra

15:25

Networking break

15:50

Presentation: Evolution of the sustainable finance - from the private side to the public agenda

Speaker: Julián Romero, Head of Sustainable Bond Group, BBVA

16:10

Roundtable: Evolution of the Spanish NPL market

  • status of the NPL market in Spain - how did we get here?
  • similarities and differences between the Spanish and Italian NPL markets
  • relevance of securitisation to European NPL
  • will AMCs be effective in decreasing the level of NPLs on Spanish banks’ balance sheets?
  • examples of indicative NPL sales transactions

Moderator: Gary Simmons, Managing Director, High Yield and Prime Services, AFME

Panellists:
Alberto Barbáchano, Vice President, Senior Credit Officer, EMEA Structured Finance Group, Moody’s Investors Service
Juan Luis Díez Gibson, Deputy Director General of Strategic Analysis and International Financial System, Spanish Treasury

16.40

Closing roundtable: What are the factors that will drive markets and the economy in 2018?

Moderator: Pablo Portugal, Director, Public Policy and Advocacy, AFME

Panellists:
Juan Cebrián, Corporate Director, Regulatory Public Affairs, Caixabank
Juan David García Restrepo, Senior Director, Structured Finance, Fitch Ratings

17:10

Chair’s closing remarks
Victoria Webster, Director, Fixed Income, AFME

17:15

Networking drinks reception

S&P Global Ratings

S&P Global Ratings