- , Federal Reserve Bank of Chicago

Wednesday, May 14

7:30 a.m.		Registration Continental Breakfast
8:25 a.m.		Welcoming Remarks Douglas D. Evanoff, Senior Financial Economist and Vice President, Federal Reserve Bank of Chicago
8:30 a.m.		Corporate Issues Moderator and Discussant Lemma W. Senbet, William E. Mayer Chair Professor of Finance, Robert H. Smith School of Business, University of Maryland The Role of Private Equity Group Reputation in Buyout Financing and Valuation Christopher M. James, University of Florida Cem Demiroglu, University of Florida Institutional Investors, Credit Supply Uncertainty and the Leverage of the Firm Massimo Massa, INSEAD Ayako Yasuda, University of Pennsylvania Lei Zhang, INSEAD Market Discipline in the Banking Industry: Evidence from Spread Dispersion Giuliano Iannotta, Università Bocconi
10:00 a.m.		Break
10:20 a.m.		Financial Structure Moderator and Discussant Robert DeYoung, Capitol Federal Professor in Financial Institutions and Markets, University of Kansas School of Business Does Credit Supply Affect Small-Firm Finance? Tara N. Rice, Federal Reserve Bank of Chicago Philip E. Strahan, Boston College Testing the "Quiet Life" of U.S. Banks with Lerner Indices Michael Koetter, University of Groningen James W. Kolari, Texas A&M University Laura Spierdijk, University of Groningen Bank Mergers and the Dynamics of Deposit Interest Rates Ben R. Craig, Federal Reserve Bank of Cleveland and Deutsche Bundesbank Valeriya Dinger, University of Bonn, Germany
12:00 p.m.		Luncheon
1:20 p.m.		Financial Relationships Moderator and Discussant Anjan V. Thakor, John E. Simon Professorship of Finance, Olin School of Business, Washington University Who Runs? The Importance of Relationships in Bank Runs Rajkamal Iyer, University of Amsterdam Manju Puri, Duke University Lending Relationships and Information Rents: Do Banks Exploit Their Information Advantages? Carola Schenone, University of Virginia Bank Lending, Financing Constraints and SME Investment Santiago Carbó Valverde, University of Granada and Federal Reserve Bank of Chicago Francisco Rodríguez-Fernández, University of Granada Gregory F. Udell, Indiana University Benefits of Relationship Banking: Evidence from Consumer Credit Markets Sumit Agarwal, Federal Reserve Bank of Chicago Souphala Chomsisengphet, Office of the Comptroller of the Currency Chunlin Liu, University of Nevada–Reno Nicholas S. Souleles, University of Pennsylvania
3:10 p.m.		Break
3:30 p.m.		Credit Channels Moderator and Discussant Debbie J. Lucas, Donald C. Clark Household International Distinguished Professor of Finance, Kellogg School of Management, Northwestern University Hazardous Times for Monetary Policy: What Do Twenty-Three Million Bank Loans Say about the Effects of Monetary Policy on Credit Risk? Gabriel Jiménez, Bank of Spain Steven Ongena, Tilburg University, Center for Economic Policy Research and CentER José Luís Peydró, European Central Bank Jesús Saurina, Bank of Spain Securitization and the Bank Lending Channel Yener Altunbaş, University of Wales Leonardo Gambacorta, Bank of Italy David Marqués Ibáñez, European Central Bank Financial Globalization and the Transmission of Credit Supply Shocks: Evidence from an Emerging Market Philipp Schnabl, Harvard University
5:15 p.m.		Reception
Thursday, May 15

7:00 a.m.		Registration Continental Breakfast
8:15 a.m.		Welcoming Remarks Charles L. Evans, President and Chief Executive Officer, Federal Reserve Bank of Chicago
8:30 a.m.		Keynote Address Introduction Charles L. Evans, President and Chief Executive Officer, Federal Reserve Bank of Chicago Speaker Ben S. Bernanke, Chairman, Board of Governors of the Federal Reserve System
9:25 a.m.		Break
9:50 a.m.		Theme Panel—Credit Market Turmoil: Causes, Consequences and Cures Moderator Daniel G. Sullivan, Senior Vice President and Director of Research, Federal Reserve Bank of Chicago Panelists William C. Dudley, Executive Vice President, Federal Reserve Bank of New York Joe L. Price, Chief Financial Officer, Bank of America Corporation Richard Cantor, Managing Director, Moody's Investors Service Jason H. P. Kravitt, Partner, Mayer Brown, LLP Richard J. Herring, Jacob Safra Professor of International Banking, University of Pennsylvania
12:10 p.m.		Luncheon Introduction Gordon Werkema, First Vice President and Chief Operating Officer, Federal Reserve Bank of Chicago Speaker James E. Rohr, Chairman and Chief Executive Officer, The PNC Financial Services Group
1:55 p.m.		Markets and Turmoil Moderator George G. Kaufman, John F. Smith Professor of Finance and Economics, Loyola University Chicago The Northern Rock Crises and Resolution David T. Llewellyn, Loughborough University Which Banks Sponsored Structured Investment Vehicles? Carlos Arteta, Board of Governors of the Federal Reserve System Mark S. Carey, Board of Governors of the Federal Reserve System Ricardo Correa, Board of Governors of the Federal Reserve System Subprime Markets Joseph R. Mason, Drexel University Joshua Rosner, Graham Fisher & Co.
3:25 p.m.		Break
3:50 p.m.		Fringe Markets: Payday Loans, Bounced Checks and Usurious Loans Moderator Anna Paulson, Federal Reserve Bank of Chicago Payday Holiday: How Households Fare after Payday Credit Bans Donald P. Morgan, Federal Reserve Bank of New York Michael R. Strain, Cornell University Bouncing Out of the Banking System: An Empirical Analysis of Involuntary Bank Account Closures Dennis W. Campbell, Harvard Business School Asis Martinez-Jerez, Harvard Business School Peter Tufano, Harvard Business School Expanding Credit Access: Using Randomized Supply Decisions to Estimate the Impacts Dean Karlan, Yale University Jonathan Zinman, Dartmouth College
5:15 p.m.		Reception
Friday, May 16

7:30 a.m.		Continental Breakfast
8:30 a.m.		Subprime Market Performance and Outlook Moderator Richard J. Rosen Federal Reserve Bank of Chicago Subprime Outcomes: Risky Mortgages, Homeownership Experiences and Foreclosures Kristopher Gerardi, Federal Reserve Bank of Boston and Boston University Adam Hale Shapiro, Federal Reserve Bank of Boston and Boston University Paul Willen, Federal Reserve Bank of Boston The Consequences of Mortgage Credit Expansion: Evidence from the 2007 Mortgage Default Crisis Atif R. Mian, University of Chicago Amir Sufi, University of Chicago The Outlook for Subprime Adjustable-Rate Mortgages Shane M. Sherlund, Board of Governors of the Federal Reserve System
10:00 a.m.		Break
10:20 a.m.		Addressing Mortgage Market Problems Moderator Alicia Williams, Federal Reserve Bank of Chicago Jan Hatzius, Managing Director and Chief U.S. Economist, Goldman, Sachs and Company Sandra Braunstein, Director, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System Kieran P. Quinn, CMB, Chairman, Mortgage Bankers Association Faith Arnold Schwartz, Senior Vice President, Option One Mortgage Corporation and Executive Director, Hope Now Alliance
12:15 p.m.		Luncheon Introduction Charles L. Evans, President and Chief Executive Officer, Federal Reserve Bank of Chicago Speaker James B. Lockhart III, Director, Office of Federal Housing Enterprise Oversight
1:45 p.m.		Session A
		Determinants of Subprime Lending Moderator Sumit Agarwal, Federal Reserve Bank of Chicago How Do Financial Frictions Shape the Products Market? Evidence from Mortgage Originations James Vickery, Federal Reserve Bank of New York Credit Booms and Lending Standards: Evidence from the Subprime Mortgage Market Giovanni Dell'Ariccia, International Monetary Fund Deniz Igan, International Monetary Fund Luc Laeven, International Monetary Fund Understanding the Subprime Mortgage Market Yuliya Demyanyk, Federal Reserve Bank of St. Louis Otto Van Hemert, New York University
		Session B
		Loan Syndication Markets Moderator Luca Benzoni, Federal Reserve Bank of Chicago Banking and Securitization Wenying Jiangli, Federal Deposit Insurance Corporation Matthew Pritsker, Board of Governors of the Federal Reserve System Peter Raupach, Deutsche Bundesbank Lead Arranger Reputation and the Loan Syndication Market Radhakrishnan Gopalan, Washington University Vikram Nanda, Arizona State University Vijay Yerramilli, Kelley School of Business, Indiana University Institutional Investment in Syndicated Loans Debarshi Nandy, York University Pei Shao, University of Northern British Columbia
		Last updated: May 16, 2008

44th Annual Conference on Bank Structure and Competition