Crisis Preparedness in the Banking Industry workshop organised by the MFSA

The MBA’s Secretary General, Karol Gabarretta, was invited to participate at a panel discussion held as part of a workshop organised by the MFSA on the 21st November, titled Crisis Preparedness in the Banking Industry.  The panel discussion, which dealt with Recovery and Resolution – Local and International Perspective, Cooperation between Authorities and Industry View was moderated by Dr Michelle Mizzi Buontempo, C.O. Enforcement at the MFSA while Christian Buttigieg, Head Resolution Unit at the MFSA, Catherine Galea, Head Banking Supervision, MFSA and Tuija Taos, Board Member, Single Resolution Board (SRB), comprised the other members of the panel.

Mr Gabarretta addressed key issues from the industry’s perspective arising mainly from the impact over the years of the implementation of the Banking Recovery and Resolution Directive (BRRD) and its challenges; the engagement and flow of information between the competent authorities and banks; proposed areas of improvement and the uncertainties (not only for banks) and potential costs resulting from the future implementation of the Crisis Management and Deposit Insurance (CMDI) framework proposed by the EU Commission and currently being discussed and assessed at EU fora.

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