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This presentation is based on a part of an academic course on Enterprise Risk Management (ERM) titled ‘ERM frameworks’ and covers topics such as: The 2007-09 Credit Crisis, similarities and differences between banks and insurers, Basel II and Basel III (banks), Solvency II (European insurers) and policy responses to the 2007-09 Credit Crisis

Slides

1	Session 3: ERM frameworks
2	Session 3: ERM frameworks
3	The 2007-09 Credit Crisis
4	Stages 1 and 2
5	Stage 3: Counterparty mistrust
6	Stage 4: Hubris always leads to nemesis?
7	An overview
8	Session 3: ERM frameworks
9	Typical bank and insurer business models differ
10	Different funding bases (excluding equity)
11	Different accounting bases
12	Session 3: ERM frameworks
13	Basel II
14	Basel II - Market risk
15	Basel II - Market risk (ctd)
16	Basel II - Credit risk
17	Basel II - Credit risk - aims
18	Basel II - Operational risk
19	Basel II - Loopholes (1)
20	Basel II - Loopholes (2) - A bank view (Dresdner)
21	Countries that came out of 2007-09 Crisis better
22	Revisions to Basel II post crisis: overview
23	Basel III capital requirements
24	Revisions to Basel II post crisis: market risk
25	G-SIBs
26	G-SIIs
27	Session 3: ERM frameworks
28	Solvency II
29	Trends in insurance regulation
30	Current UK financial regulatory structure
31	UK FSA, PRA, FCA Principles (see Handbook)
32	PRA’s Risk Framework
33	Solvency II framework for European insurers
34	Solvency II - Three pillars
35	Solvency I
36	Origins of Solvency II
37	Solvency II - Summary drivers
38	Example of uneven capital treatment across sectors
39	Solvency II - Pillar 1 capital requirements
40	Solvency II - SCR and MCR
41	Session 3: ERM frameworks
42	Appendix: Policy responses to 2007-09 Credit Crisis
43	Turner review
44	(1) Key drivers of Crisis
45	(2) UK-specific factors
46	(3) Recommendations
47	(4) Capital , accounting and liquidity
48	(5) Narrow banks versus Investment banks
49	(6) EU-level regulatory body
50	(7) Some open questions
51	Carry through to insurers?
52	Differing economic roles of banks and insurers
53	Two main roles of money
54	Blurred boundaries
55	Ideas proposed for regulatory change
56	(1) Capital adequacy
57	(2) Ring-fence activities linked to depositor protection
58	(3) Existing investors to contribute more to bailouts
59	Resolution of failing firms
60	(4) Improve business behaviours
61	Implications for others, e.g. insurers and pension funds
62	Important Information

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