10th Annual Spanish Funding Conference | afme

10th Annual Spanish Funding Conference

07 Feb 2019 Gran Meliá Fénix Hotel, Madrid

Agenda

08:30

Morning workshop registration and refreshments

09:00

Morning workshop: Synthetic Securitisation and Significant Risk Transfer

  • What is Significant Risk Transfer?
  • What is the current state of play in the European and Spanish SRT market?
  • Current regulatory challenges facing SRT participants: JST backlog, excess spread, EBA discussion paper and ESMA disclosure
  • What’s the difference between synthetic and true sale securitisation?
  • Will synthetics join the STS club?

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

Speakers:
Timothy Cleary, Partner, Clifford Chance
Juan Carlos Martorell
, MD, Co-Head of Structured Solutions, Mizuho International
Pablo Sánchez González
, Structured Finance Manager, European Investment Fund (EIF)

 

09:45

Main conference registration and networking breakfast

10:30

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

 

10:40

Keynote address
Sebastián Albella Amigo, Chairman, Spanish Securities Markets Commission (CNMV)

Introduction: 
Michael Cole-Fontayn, Chairman, AFME

11:15

Expert Session: Credit, Regulatory and Structuring Developments in Spanish Securitisation – How did 2018 Pan Out and What Can We Expect for the Coming Year?

  • What have been the main credit trends? What more can we expect?
  • What will be the probable impact of the new mortgage law?
  • Which STS criteria will be most challenging? An overview on the new data template, transparency and due diligence requirements
  • How do market players adapt to the new capital rules and decision tree between SEC-IRBA, SEC-SA and SEC-ERBA?

Keynote presentation: STS Implementation
Christian Moor, Principal Policy Advisor, European Banking Authority (EBA)

Moderator:
Anna Bak, Associate Director, Securitisation, AFME

Speakers:
Mark Lewis, MD, Head of PCS Operations, Prime Collateralised Securities (PCS)
Alexandre Linden
, Senior Transactor, BNP Paribas 
Christian Moor, Principal Policy Officer, European Banking Authority (EBA)
Antonio Tena, Vice President, Senior Analyst, Moody’s Investors Service

12:15

Panel discussion: Transition from Euribor and Eonia to Risk Free Rates

  • State of play
  • Fall back clauses in contracts
  • Issues affecting the Spanish mortgage market, consumer protection
  • Legal considerations in Spain

Moderator:
Richard Hopkin, Managing Director, Head of Fixed Income, AFME

Speakers:
Gregorio Arranz, Secretary General, Spanish Mortgage Association (AHE)
Ignacio Estruga
, Associate Director, S&P Global Ratings
Mikael Stenström, Senior Adviser, European Central Bank (ECB)

13:00

Networking lunch

14:00

Afternoon chair’s opening remarks
Anna Bak, Associate Director, Securitisation, AFME

 

14:10

Roundtable: Latest Trends on the Spanish NPL Market

  • Evolution of the Spanish NPL market and comparison with its European peers
  • Mortgage-secured vs SMEs’ debt-based NPLs
  • Has there been an acceleration in the sale of NPLs?
  • New players in the market

Moderator:
Evis Progonati, Assistant Editor, Debtwire

Speakers:
Paula León Arias, Director, Retail Institutional Investments, SAREB 
María López Iparraguirre
, Vice President, Analyst, Global Structure Finance, DBRS Ratings

14:50

Panel Discussion: Alternative Funding in Spain

  • The end of the ECB’s bond-buying scheme. What will be used to replace this source of funding?
  • New financing instruments for SMEs: Project Bonds, Mini Bonds and Commercial Papers
  • P2P lending and crowdfunding as new financing sources

Moderator:
Harry Noutsos, Global Head of ABS, ING Bank

 

Speakers:
Juan David García Restrepo, Structured Finance and Covered Bonds, Senior Director, Fitch Ratings
Miguel de Noronha Ribeiro de Almeida, Executive Director, DCM Project Bond Team, Santander CIB
Gonzalo Goméz Retuerto
, Managing Director, Fixed Income Markets, Bolsas y Mercados Españoles (BME)

15:30

Networking break

16:10

Panel Discussion: Sustainable Finance

  • Why go green? Benefits for issuers and investors
  • Green bonds: what is an eligible project?
  • Socially Responsible Investing (SRI) and ESG’s criteria
  • The new European Commission’s action plan on sustainable finance: legislative proposals and TEG’s state of play
  • What does the EC’s initiative mean for the capital markets?

Moderator:
Miguel García de Eulate, Head of Treasury and Capital Markets, Caja Rural de Navarra

Speakers:
Antoni Ballabriga, Global Head of Responsible Business, BBVA
Luisina Berberian
, Associate Director, S&P Global Ratings
Raluca Tircoci-Craciun, Head of Growth and Emerging Markets, Implementation Monitoring and Senior Policy Advisor, International Organisation of Securities Commissions (IOSCO)

16:50

Roundtable: FinTech and Innovation in the Capital Markets

  • The evolution of capital markets: why, what and how
  • The use of tokenised securities in debt capital markets
  • Applying blockchain in securitisation: risks and uncertainty
  • MTFs under MiFID II financial reforms

Moderator:
Pablo Portugal, Managing Director, Advocacy, AFME

Speakers:
Jonathan Healey, Head of Global Markets eCommerce, BBVA CIB
Ana Puente Pérez
, Head of Securities Markets and Financial Instruments Regulation, Spanish Treasury
John Whelan, Head of Digital Investment Banking, Santander CIB

17:30

Afternoon chair’s closing remarks
Anna Bak, Associate Director, Securitisation, AFME

 

17:35

Networking drinks reception