The Global Borrowers & Bond Investors Forum

Timo Löyttyniemi

Vice Chair

Single Resolution Board

Timo Löyttyniemi is the vice chair for the Single Resolution Board (SRB) which is the new EU resolution agency. He started as a member of the board in March 2015. Before joining the SRB, he has been the managing director of the Finnish Government’s State Pension Fund from 2003 to 2015. Earlier he had worked in various roles in banks and in investment banking. From 1996 to 1999, he was managing director of Norvestia Plc and from 1999 to 2003, was head of capital markets of Mandatum & Co. Ltd. (Sampo Bank). He has led and participated in corporate finance, restructuring, recapitalisation, capital structure and capital raising projects in international investment banking environments. He holds a PhD in economics and has a strong understanding of academic research in both economics and in corporate finance. The Single Resolution Board (SRB) is the resolution authority within the European Banking Union and is a key element of the newly created Banking Union and its ‘Single Resolution Mechanism’ (SRM). It works in close cooperation in particular with the national resolution authorities of participating Member States, the European Commission and the European Central Bank. Its mission is to ensure an orderly resolution of failing banks with minimum impact on the real economy and public finances of the participating Member States and beyond. The Single Resolution Fund as part of the SRB will be built in the coming years to create a safety net in worst case scenarios. The total target size of the Fund will equal at least 1% of the covered deposits of all banks in Member States participating in the Banking Union and will have around €55bn of ‘firepower’ when fully operational which will be built up over eight years – starting in 2016.

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Tue 21 - Wed 22 Jun 2016

The Hilton Park Lane, London