EuroCatalyst

PROGRAM DAY 1: Monday, September 23, 2002

(Click here for the schedule for Day 2)

IN THE BOARD ROOM

WELCOME FROM THE BANK OF SPAIN / Fernando Vargas
INTRODUCING EUROCATALYST 2002 / Toni Moss, Founding Partner, EuroCatalyst BV
KEYNOTE 0920-0950	2002 INTELLECTUAL CATALYST / Esther Dyson, Chairman, EDVenture Holdings Globalisation, technology and the future of national market structures
0950-1020	AUDIENCE QUESTION AND ANSWER WITH ESTHER DYSON
SESSION 1 1020-1040	EUROPEAN MORTGAGE LENDING IN TRANSITION SETTING THE STAGE / Judith Hardt, Secretary General, European Mortgage Federation
	The onset of globalisation, the adoption of a single currency for the EU and the challenge of Basel II have placed severe pressure on European mortgage lending. This presentation focuses on the current state of European lending and portrays an industry at the crossroads of transition.
1040-1050	AUDIENCE QUESTION AND ANSWER WITH JUDITH HARDT
SESSION 2 1050-1150	EUROPEAN NATIONAL MARKETS AND MORTGAGE LENDING IN LIGHT OF GLOBALISATION
	Open, interactive audience panel discussion. This panel brings together leaders of the major national European markets and visionaries in specific industry segments to discuss solutions to increase mortgage lending profitability , how the Pan European industry will develop and strategies for market survival. Does Europe even want a single market and what would that cost to European lenders? Is cross-border lending the path to profitability? What would the strongest bank look like based on what we know today, and what techniques would it use? The open panel discussion will address these questions and more.
	MODERATOR	Will Ross, Director, Head of ABS Research, ABN Amro
	PANEL	Esther Dyson, Chairman, EdVenture Holdings Judith Hardt, Secretary General, European Mortgage Federation Michael Coogan, Director General, Council of Mortgage Lenders Dr. Louis Hagen, General Manager, Verband deutscher Hypothekenbanken Eric Klopfer, Vice President, Global Regulatory Affairs, GE Mortgage Insurance Christopher Rodrigues, Group Chief Executive, Bradford & Bingley Toni Moss, Founding Partner, EuroCatalyst BV
1150-1210	REFRESHMENT BREAK
SESSION 3	A FORWARD LOOK AT THE BACK OFFICE: THE EUROPEAN SERVICING AND MORTGAGE ADMINISTRATION INDUSTRY TAKES SHAPE
	High-level presentations and discussion on best practices, strategies, tools and technologies for streamlining mortgage administration and servicing. This session focuses on the dynamic and changing role of traditional front, middle and back office practices, and proposes a spectrum of viable solutions for the immediate and near future. The Open Discussion Panel comprises the highest-level "Who's Who" in European lending technology, outsourcing and third-party administration and gives an overview of the strongest players in the fastest growing segment of European lending infrastructure, third party administration.
1210-1225	THE BANKER'S BANK: THE LONG TERM VALUE OF MORTGAGES / Toni Moss, Founding Partner, EuroCatalyst BV Despite the increase in alternative funding methods and balance sheet re-engineering, European lenders must move toward valuing servicing as an asset. While the back-office remains the most critical area for cost reduction, process improvement, flexibility and transparency, today straight through processing remains the ultimate goal for lenders, intermediaries AND third party providers.
1225-1245	OUTSOURCING AND THIRD-PARTY ADMINISTRATION/ Mike Hyman, Director of Business Development, EDS Credit Services As boards throughout Europe strategize to increase shareholder value, outsourcing has become a viable solution to remove operational risk and achieve systems compliance. In this session Mike Hyman provides a new context for cost reduction and increased profitability by outsourcing the highest cost center in mortgage lending.
1245-1305	BEST PRACTICES FOR IN-HOUSE LOAN ADMINISTRATION AND CUSTOMER RETENTION AMONG MULTIPLE CHANNELS/ John Sutherland, Divisional Director, Nationwide Building Society Several of Europe's largest lenders have chosen outsource strategies in a trend that is increasing in momentum daily. Others rely on in-house resources to achieve relentless improvements to deliver effective and efficient service over the life of the loan.
1305-1420	LUNCH
1420-1440	SERVICER RATINGS AND REVIEWS: A DEVELOPING DISCIPLINE FOR EUROPEAN MARKETS/ Simon Collingridge, Director, Standard and Poor's Matt Gilmour, Associate Director, European Structured Finance and Servicer Ratings, FitchRatings The process of rating and reviewing servicers is a recent and rapidly growing practice in Europe and imposes necessary standards on the administration of portfolios in the European lending arena. Leading the drive toward increased discipline for the European servicing environment, Standard and Poor's and FitchRatings explain their views on the ratings process and its importance in the European mortgage lending industry.
1445-1515	OPEN PANEL AND AUDIENCE DISCUSSION: SERVICING AS THE FUTURE FOR PROFITABILITY Process improvement and technology tools - who are the leaders? Collaboration between residential and commercial servicers Scaling servicing across Europe to enable cross-border lending What would it take to create a Pan European Master Servicer To what extent can servicing facilitate a secondary market in Europe
	MODERATOR	Simon Collingridge, Director, Structured Finance Group, Standard and Poor's
	PANEL	Ron Roark, Chairman & Chief Executive, Crown NorthCorp, Ltd (Europe) / Chairman, Crown NorthCorp, Inc. (USA) Sean Clifford, COO and Senior Vice President, Countrywide International Consulting Services Eric Klesta, Director, International Corporate Development and Servicing, UCI - Unión de Créditos Inmobiliarios Mike Hyman, Director of Business Development, EDS Credit Services Dan Brenneman, Vice President, Account Executive, ALLTEL Mortgage Solutions Rik Douwes, CEO, STATER International Mortgage Services
SESSION 4	COVERED BONDS: THE SCALE, STRENGTH AND STABILITY OF EUROPEAN MORTGAGE LENDING Mortgage bonds are the single largest group of privately issued funding instruments in the EU, constituting approximately 18% of the entire European capital market and funding approximately 15% of outstanding mortgage loans in the EU. Collectively, Europe's covered mortgage bond markets are among the most safe and reliable investments in the world. This session begins with an overview of the major European bond markets, profiles "up and coming" markets and the regulatory changes that will have a dramatic impact on all European bond markets over the next few years. The session calls for the development of a Pan European asset class as opposed to national products to gain global economies of scale to compete effectively in the global marketplace.
1515-1525	INTRODUCTION EUROPEAN COVERED BOND MARKETS AND INDUSTRY OVERVIEW / Jeff Spencer This introduction will cover the history, function, role and importance of Europe's covered bond markets and establishes the vision for a Pan European asset class as opposed to national products
1525-1545	GERMANY'S HYPOTHEKEN PFANDBRIEFE Dr. Louis Hagen, General Manager, Verband deutscher Hypothekenbanken / Association of German Mortgage Banks
1545-1605	DENMARK'S REALKREDITOBLIGATION Torben Gjede, Director General, Realkreditrådet / Association of Danish Mortgage Banks
1605-1620	LETTRES DE GAGE OF LUXEMBOURG Jean-Luc Spetz, Managing Director, EUROHYPO Europäische Hypothekenbank S.A., Luxembourg
1620-1640	RATING AGENCY DISCUSSION ON EUROPEAN COVERED BONDS: SIMILARITIES AND DIVERGENCES IN RATING CRITERIA Alexandra Sleator, Senior Vice President, Coordinator for European Covered Bond Ratings, Moody's Investors Service Barbara Ridpath, Managing Director and Chief Criteria Officer Europe, Standard and Poor's
1640-1700	OPEN PANEL AND AUDIENCE DISCUSSION: How will European covered bond markets grow in the future?
	MODERATOR	Barbara Ridpath, Managing Director and Chief Criteria Officer, Standard and Poor's Europe
	PANEL	Dr. Louis Hagen , General Manager, Verband deutscher Hypothekenbanken Jean-Luc Spetz, EUROHYPO Europäische Hypothekenbank S.A., Luxembourg Torben Gjede, Director General, Realkreditrådet Jeffrey Spencer, Vice President, Fixed Income Research, Merrill Lynch Eimer O'Rourke, Secretary, Irish Mortgage & Savings Association Alexandra Sleator, Senior Vice President, Coordinator for European Covered Bond Ratings, Moody's Investors Service
1700-1715	COMFORT BREAK
SESSION 5	LENDING PROFITABILITY AND EUROPEAN vs. U.S. LENDING MODELS: ADOPTING THE BEST AND LEAVING THE REST Surviving the tough times is an ongoing process of fine-tuning successful strategies and abandoning unprofitable ones. Today, the lack of uniform, transparent and cost-effective mortgage lending and servicing practices that have historically protected national European markets are the opportunities that foreign entrants seek to exploit. This session analyzes the systemic variables between the US and European lending markets and the extent to which specific "American" models could stimulate greater profitability for European markets. The discussion will be an exciting, informative and lively debate that challenges assumptions of American market superiority and targets opportunity throughout the European lending industry.
1715-1730	THE EUROPEAN PERSPECTIVE Adrian Coles, Director General, Building Societies Association (United Kingdom), and Secretary General, International Union for Housing Finance
1730-1745	THE U.S. PERSPECTIVE Dr. Michael Lea, President, Countrywide International Consulting Services
1745-1830+	CLOSING OPEN AUDIENCE DISCUSSION / Where will Europe go from here - will national markets survive globalisation?
	CO-MODERATORS	Adrian Coles and Dr. Michael Lea
	PANEL	Tony Porter, Chief Operating Officer, Executive Managing Director, PMI Europe Marty Levine, Senior Managing Director, Shorebank Advisory Services Hans-Joachim (Achim) Dübel, Real Estate Finance Specialist Judith Hardt, Secretary General, European Mortgage Federation Robert van den Berg, Director, GMAC RFC Nederland BV
(Tuesday, September 24, 2002)