- , Federal Reserve Bank of Chicago

Wednesday, May 3

7:30 a.m.		Registration and Continental Breakfast
8:25 a.m.		Welcoming Remarks William C. Hunter, Senior Vice President and Director of Research Federal Reserve Bank of Chicago
8:30 a.m.		Valuing the Bank Relationship Moderator and Discussant Rafael Repullo, Director, Centro de Estudios Monetarios y Financieros (Bank of Spain's Center for Monetary and Financial Studies) The Information Revolution and Small Business Lending: Does Distance Still Matter? Mitchell A. Petersen, Northwestern University Raghuram G. Rajan, Chicago University Relationship Banking, Loan Specialization, and Competition Robert Hauswald, Indiana University Robert Marquez, University of Maryland Bank Competition and Firm Creation Emilia Bonaccorsi di Patti, Bank of Italy Giovanni Dell'Ariccia, International Monetary Fund
10:00 a.m.		Break
10:20 a.m.		Implications From Bank Diversification Moderator and Discussant Allen Berger, Board of Governors of the Federal Reserve System Bank Underwriting of Corporate Bonds: Evidence from Post-1994 Japan (PDF,97KB) Yasushi Hamao, University of Southern California Takeo Hoshi, University of California, San Diego The Determinants of Cross-Border Bank Shareholdings: An Analysis with Bank-Level Data from OECD Countries (PDF,174KB) Dario Focarelli, Bank of Italy Alberto Franco Pozzolo, Bank of Italy Are Scale Economics in Banking Elusive or Illusive? Evidence Obtained by Incorporating Capital Structure and Risk Taking into Models of Bank Production (PDF,160KB) Joseph P. Hughes, Rutgers University Loretta J. Mester, Federal Reserve Bank of Philadelphia Choon-Geol Moon, Hanyang University
12:00 p.m.		Luncheon
1:20 p.m.		Lessons from Bank Failures Moderator and Discussant Eric Rosengren, Federal Reserve Bank of Boston Corporation Valuation and the Resolution of Bank Insolvency in East Asia Simeon Djankov, World Bank and CEPR Jan Jindra, Ohio State University Leora Klapper, World Bank Are Fiscal Costs of Banking Crises Increased by Poor Resolution Policies? (PDF,227KB) Patrick Honahon, World Bank Daniela Klingebiel, World Bank Credit Channel Effects, and the Persistence of the U.S. Great Depression (PDF, 135KB) Joseph Mason, Drexel University Ali Anari, Texas A&M University James Kolari, Texas A&M University The Dynamics of Debtors in Possession Financing: Bankruptcy Resolution and the Role of Prior Lenders (PDF,77KB) Sandeep Dahiya, Georgetown University Kose John, New York University Manju Puri, Stanford University Gabriel Ramirez, Virginia Commonwealth University
3:10 p.m.		Break
3:30 p.m.		Bank Risk Issues Moderator and Discussant Janet Tavakoli, Bank One, NA The Relationship between Bank Off-Balance-Sheet Activities and Credit Risk under Risk-Based Capital: A Simultaneous Equations Approach Kevin T. Jacques, John Carroll University Raj Aggarwal, John Carroll University Tara Rice, Boston College Parameterizing Credit Risk Models with Rating Data (PDF,358KB) Mark Carey, Board of Governors of the Federal Reserve System Mark Hrycay, Board of Governors of the Federal Reserve System Credit VaR Models and Risk-Bucket Capital Rules: A Reconciliation Michael B. Gordy, Board of Governors of the Federal Reserve System
5:15 p.m.		Reception
Thursday, May 4

7:00 a.m.		Registration and Continental Breakfast
8:15 a.m.		Welcoming Remarks Michael H. Moskow, President Federal Reserve Bank of Chicago
8:25 a.m.		Keynote Address Alan Greenspan, Chairman Board of Governors of the Federal Reserve System
9:20 a.m.		Break
9:45 a.m.		Conference Theme Panel: The Changing Financial Industry Structure and Regulation Moderator William C. Hunter, Senior Vice President and Director of Research, Federal Reserve Bank of Chicago Panelists James M. McCormick, President, Manhattan Consulting Group J. Robert Kramer II, Section Chief, Litigation II, US Department of Justice James Chessen, Chief Economist, American Banker Association Malcolm Bush, President, Woodstock Institute Thomas Brown, Chief Executive Officer, Second Curve Capital
12:05 p.m.		Luncheon Presentation Donna Tanoue, Chairman Federal Deposit Insurance Corporation
1:50 p.m.		Alternative Financial Delivery Systems Moderator William C. Conrad, First Vice President, Federal Reserve Bank of Chicago Panelists J. Stephen Baine, Chairman, Wingspan Investment Services, Inc. Roger W. Ferguson, Jr., Vice Chairman, Board of Governors of the Federal Reserve System Gary Gensler, Under Secretary of the Treasury, US Treasury Department David Medine, Associate Director, Federal Trade Commission
3:40 p.m.		Break
4:00 p.m.		Reforming Bank Capital Requirements Moderator George G. Kaufman, Loyola University Chicago Panelists Lesley Daniels Webster, Executive Vice President, The Chase Manhattan Bank Daniéle Nouy, General Secretary, Basle Committee on Banking Supervision Jerome S. Fons, Moody's Investors Service
5:45 p.m.		Reception
Friday, May 5

7:30 a.m.		Continental Breakfast
8:30 a.m.		Concurrent Sessions Session A: Too-Big-to-Fail and Other Bank Safety Net Issues Moderator Elijah Brewer III, Federal Reserve Bank of Chicago Incentives for Banking Megamergers: What Motives Might Regulators Infer from Event-Study Evidence? (PDF,575KB) Edward J. Kane, Boston College Bank Mergers and Subordinated Debt Yields Maria Penas, University of Maryland Haluk Ünal, University of Maryland Empirical Evidence on the Need for a Lender of Last Resort (PDF, 134KB) Craig Furfine, Bank for International Settlements Session B: Credit Access in Targeted Markets Moderator Wayne Passmore, Board of Governors of the Federal Reserve System Small Business Access to Trade Credit: Some Evidence of Ethnic Differences Daniel Aaronson, Federal Reserve Bank of Chicago Paul Huck, Federal Reserve Bank of Chicago Robert Townsend, University of Chicago Community Lending and Bank Mergers Raphael Bostic, Board of Governors of the Federal Reserve System Hamid Mehran, Federal Reserve Bank of New York Anna L. Paulson, Northwestern University Marc Saidenberg, Federal Reserve Bank of New York Fair Lending Compliance: Past Experiences and Future Trends Balvinder S. Sangha, Ernst & Young LLP
10:00 a.m.		Break
10:20 a.m.		Concurrent Sessions Session C: Subordinated Debt, Market Discipline, and Regulatory Reform Moderator Douglas D. Evanoff, Federal Reserve Bank of Chicago The Role of Subordinated Debt in Bank Safety and Soundness Regulation Larry Wall, Federal Reserve Bank of Atlanta Market Discipline in Governance of US Bank Holding Companies: Monitoring versus Influencing Robert R. Bliss, Federal Reserve Bank of Chicago Mark J. Flannery, University of Florida Bond Market Discipline of Banks: Is the Market Tough Enough? (PDF,94KB) Donald P. Morgan, Federal Reserve Bank of New York Kevin J. Stiroh, Federal Reserve Bank of New York Session D: Consolidation of Banking Organizations Moderator Robert DeYoung, Federal Reserve Bank of Chicago Managerial Incentives, Merger Premiums, and Bank Acquisitions (PDF,84KB) James A. Wilcox, Office of the Comptroller of the Currency Zane D. Williams, McKinsey & Company, Inc. Bank Consolidation and Consumer Loan Interest Rates (PDF,265KB) Charles Kahn, University of Illinois at Urbana-Champaign George Pennacchi, University of Illinois at Urbana-Champaign Ben Sopranzetti, Rutgers University Organizational Structure and the Diversification Discount: Evidence from Commercial Banking Peter G. Klein, University of Georgia Marc R. Saidenberg, Federal Reserve Bank of New York
12:00 p.m.		Luncheon Presentation Safety Net Issues in the New Financial Environment J. Alfred Broaddus, Jr., President, Federal Reserve Bank of Richmond Ernest Patrikis, Senior Vice President and General Counsel, American International Group, Inc. Peter Wallison, Resident Fellow, American Enterprise Institute

The Changing Financial Industry Structure & Regulation: Bridging States, Countries and Industries