Rym Ayadi

Rym Ayadi is Professor of International Business and Finance and Founding Director of the International Research Centre on Cooperative Finance (IRCCF) at HEC Montreal Business School. She is Honorary Visiting Professor at Cass Business School, City University of London.
She is also a Board Member of the Alphonse and Dorimène Desjardins Institute for Cooperatives at HEC Montreal. She is the President and the Founder of the Euro-Mediterranean Economists Association, Founder and Scientific Director of the Euro-Mediterranean Network for Economic Studies (EMNES) and Senior Research Fellow at the Euro-Mediterranean University (EMUNI).
She is expert member of several high-level expert groups in the European Commission, external advisor to the European Parliament (Economic and Financial Committee and Committee on Foreign Affairs)), Mediterranean Assembly of the Mediterranean and the Union for the Mediterranean and invited expert in international organisations.
Rym’s fields of expertise include international financial systems, financial markets and institutions, global financial regulation and governance and socio-economic development and foresight in economies in transition.
She was the Director of the Alphonse and Dorimène Desjardins Institute for Cooperatives of HEC Montreal (from 2014 to 2017) and Senior Research Fellow and Head of Research of the Financial Institutions Unit at the Centre for European Policy Studies (CEPS) from 2001 to 2014. She served as Scientific Director of an international research network on the prospective analysis in the Mediterranean (MEDPRO – Mediterranean Prospects Research Network) from 2009 to 2013.
Rym holds a Ph.D in Economics at the University of Paris Dauphine in France.

Systemic Solutions to Systemic Crises. Dealing with NPLs in the Eurozone

July 5, 2017 by Rym Ayadi, Giovanni Ferri and Rosa M. Lastra

We focus on the restructuring of troubled banks in the Eurozone. First, we review how legacy assets (mostly NPLs) were dealt in various countries (especially Japan, USA, Sweden and Spain), supporting a centralized solution in case of generalized banking crises. Second, drawing on the credit channel literature, we stress the need to differentiate between systemic and non-systemic events. Third, we theoretically advocate a systematic centralised Eurozone level approach to maintain fair recovery rates of restructuring banks’ NPLs. Our paper contributes to the lively debate on how to reinvigorate the EU banking system and thus avoid the related negative macroeconomic consequences.
This material was originally published in a paper provided at the request of the Committee on Economic and Monetary Affairs of the European Parliament and commissioned by the Directorate-General for Internal Policies of the Union and supervised by its Economic Governance Support Unit (EGOV). The opinions expressed in this document are the sole responsibility of the authors and do not necessarily represent the official position of the European Parliament. The original paper is available on the European Parliament’s webpage. © European Union, 2017

Banks’ Bail-Out and a Conditionality Clause on SMEs Support

October 23, 2015 by Rym Ayadi

Despite the discount factor for SMEs lending introduced in the CRR directive, SMEs access to credit may still not be sufficiently enhanced. Also, this preferential weight may even raise a potential distortion of the risk profile of SMEs. This Q&A section discusses the alternative measures undertaken by EU member states to alleviate the funding constraints to SME lending by banks. More specifically, it investigates the role on Small Business Lending of a conditionality clause in granting State aid.