The Workshop on Resolvability organized by Master's Degree in Banking and Financial Regulation at partnership with EY brought together experts from the Bank of Spain, BBVA, EY, Single Resolution Board, Nomura, Banco Santander and the University of Navarra to discuss the new challenges of the resolution process.

The Chairman of the FROB, Jaime Ponce, addressed the role of the Fund for Orderly Bank Restructuring in the new resolution framework and explained the new functions of the national executive resolution authority and how these should be compatible with the closure of the previous processes.

Ponce recalled the consequences, lessons and reforms in the banking sector produced by the financial crisis, such as public injections from the European Union, regulatory capital requirements or the strengthening of corporate governance. The executive also highlighted the role of the FROB in the bank restructuring process in which the institution provided 58,196 million euros in aid to the Spanish financial sector since its creation in 2009.

The first panel addressed the impact of digitalization on banking resolution and was attended by Javier Lipúzcoa, Director of Architecture & IT Innovation Strategy at BBVA; Arturo Derteano, partner of Digital Transformation at EY; and Silvia Senabre, auditor of the Group for Technological Innovation at the Bank of Spain. Senabre addressed the three new challenges of digitalization. First, "in this process regulators and supervisors need to adapt to the digital transformation of banks by playing their own evolving role." He also stressed that most of the risks related to digital transformation are already in the spotlight, however, the resolution process incorporates new risk perspectives. Finally, he anticipated that new, as yet unknown risks will emerge in the banking digitalization process.

"Challenges of resolution planning" was the topic of the second roundtable with the participation of Alberto Casillas, Managing Director of the Bank of Spain's Resolutiondepartment , Carlos López Galán, Global Head of Capital Management at Banco Santander and Mario Delgado, partner of Financial Regulation at EY. López Galán, presented Santander's Corporate Resolution Plan and addressed the barriers and implementation of TLAC requirements in the bank.

As a finale, Axel Kunde, Head of Unit for Resolution Planning and Decisions of the Single Resolution Board; Andrés Calzado, Managing Director Debt Capital Markets, of Nomura; and Tom Huertas, Partner Leader of Global Regulatory Network of EY addressed the minimum requirement of own funds and regulatory eligible liabilities: MREL at roundtable: The journey to MREL.