For internal events (triggered by BPPM): No
For external event (received from other cells or event integrations): Yes -> timeout policy or rule
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Actually, internal events (generated via thresolds set in the BPPM console) can be auto-closed. If you look at the threshold settings (under Options->Administration), you will see an auto-close checkbox for each threshold. For an intelligent event to clear, the parameters has to out of the alarm condition for the same amount of time that it had to be in alarm before the event occurred (i.e. if the parameter has to be in an alarm state for 30 minutes before the event occurs, it will have to be out for 30 minutes before it clears).