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The 24th Annual Conference on Bank Structure & Competition

Since the early 1960s, the Federal Reserve Bank of Chicago’s Conference on Bank Structure and Competition has served as a forum for academics, regulators and industry participants to debate current issues affecting the financial services industry. Each year the purpose of the conference is to continue that tradition. This retrospective on the history and evolution of the conference reviews the past four decades of conferences.

 

The primary motivating factor for the conference was the passage of the 1960 Bank Merger Act and the U.S. versus Philadelphia National Bank Supreme Court decision. Suddenly, bank regulatory agencies were required to consider competitive factors in addition to banking factors when evaluating bank merger applications. Each of the Federal Reserve Banks was encouraged to survey the existing literature on bank structure and develop its own research agendas on these issues.

Wednesday, 05/11/88
8:00 AM
I. Special Addresses
An Overview of Financial Restructuring
Alan Greenspan, Board of Governors of the Federal Reserve System
The First Law of Restructuring
Barry F. Sullivan, First National Bank of Chicago
A Bank by Any Other Name...
Thomas G. Labrecque, Chase Manhattan Corporation
10:00 AM
II. Systemic Risk and Financial Restructuring
The Effects of Regulation on Systemic Risks
Anna J. Schwartz, National Bureau of Economic Research
Systemic Risk and Financial Restructuring
William Taylor, Board of Governors of the Federal Reserve System
11:00 AM
III. Lessons from October 19, 1987
Remarks for the Panel "Lessons from October 19, 1987"
Martha R. Seger, Board of Governors of the Federal Reserve System
Lessons from The Crash of '87: Systemic Issues
Gillian Garcia, U.S. Senate Banking Committee
Lessons from October 19th
Robert R. Glauber, Harvard University
The Fact and the Fiction of October 19
Joseph A. Grundfest, Securities and Exchange Commission
Margins and the Future of the Markets
Merton H. Miller, University of Chicago
2:30 PM
IV. Risk-Based Capital and Deposit Insurance
Risk-Based Capital Adequacy Standards for a Sample of 43 Major Banks
Ehud I. Ronn, University of Chicago
Avinash K. Verma, University of Massachusetts
Bank Capital Regulation in the 1980s: Effective or Ineffective?
Michael C. Keeley, Federal Reserve Bank of San Francisco
Capital Requirements and Optimal Bank Portfolios: A Reexamination
William P. Osterberg, Federal Reserve Bank of Cleveland
James B. Thomson, Federal Reserve Bank of Cleveland
4:00 PM
V. Historical Studies of Bank Failure and Crises
A Reexamination of the History of Bank Failures, Contagion and Banking Periods
R. Alton Gilbert, Federal Reserve Bank of St. Louis
Contagion Effects and Banks Closed in the Free Banking Period
Iftekhar Hasan, University of Wisconsin
Gerald P. Dwyer, Jr., University of Houston
Thursday, 05/12/88
8:00 AM
VI. Bank Risk-Taking
Parameter Variability, Event Studies and the Two-Index Model
Edward J. Kane, Ohio State University
Haluk Ünal, Ohio State University
The Market's Evaluation of Bank Risk: A Methodological Approach
Gary Gorton, University of Pennsylvania
Anthony M. Santomero, University of Pennsylvania
Ownership Structure, Deregulation and Bank Risk Taking
Anthony Saunders, New York University
Elizabeth Strock, Boston College
Nickolaos G. Travlos, Boston College
10:00 AM
VII. Off-Balance-Sheet Activities
Off-Balance-Sheet Activities and the Underinvestment Problem in Banking
Christopher James, University of Oregon
Paul A. Spindt, Board of Governors of the Federal Reserve System
An Analysis of Bank Hedging in Futures Markets
G. D. Koppenhaver, Federal Reserve Bank of Chicago
Roger Craine, University of California at Berkeley
Risk-Based Capital and Off-Balance-Sheet Activities
Robert B. Avery, Board of Governors of the Federal Reserve System
Allen N. Berger, Board of Governors of the Federal Reserve System
12:00 PM
VIII. Corporate Separateness
Corporate Separateness
Roger D. Rutz, Board of Trade Clearing Corporation
Insulating Banks from Risks Run by Nonbank Affiliates
Samuel B. Chase, Chase, Laub & Company
Insulation of Banking from Nonbanking: An Empirical Investigation
George E. French, Federal Deposit Insurance Corporation
Eric Hirschhorn, Federal Home Loan Bank Board
Implementing a Fail-Proof Banking System
Robert J. Lawrence, University of Missouri
Samuel H. Talley, Banking Consultant
2:00 PM
IX. New Powers—Strategic Issues
Bank Securities Activities: Current Position and Future Prospects
George G. Kaufman, Loyola University Chicago and Federal Reserve Bank of Chicago
Larry R. Mote, Federal Reserve Bank of Chicago
Economies of Scale and Scope in the Securities Industry: A Model Using Survey Data from New York Securities Firms
Lawrence G. Goldberg, University of Miami
Gerald A. Hanweck, George Mason University
Michael Keenan, New York University
Allan Young, Syracuse University
Relatedness in Financial Services
Eileen M. Friars, The MAC Group
Friday, 05/13/88
8:00 AM
X. Bank Risk—Recent Experience
Bank Failure: An Evaluation of the Factors Contributing to the Failure of National Banks
Fred C. Graham, Office of the Comptroller of the Currency
James E. Horner, Office of the Comptroller of the Currency
The International Debt Crisis and Bank Security Returns Surrounding Citicorp's Loan-Loss Reserve Decision of May 19, 1987
James J. Musumeci, University of Georgia
Joseph F. Sinkey, Jr., University of Georgia
Loan Loss Reserves and Stock Market Valuations of Financial Institutions
S. Wayne Passmore, Federal Home Loan Bank Board
10:00 AM
XI. New Powers—Impact on Risk
The Profitability and Risk Effects of Allowing Bank Holding Companies to Merge with Other Financial Firms: A Simulation Study
John H. Boyd, Federal Reserve Bank of Minneapolis
Stanley L. Graham, Federal Reserve Bank of Minneapolis
Bank Securities Powers: Are There Diversification Gains?
Myron L. Kwast, Board of Governors of the Federal Reserve System
12:00 PM
XII. Bank Risk—Regulatory Responses
Lessons of the Past and Prospects for the Future in Lender of Last Resort Theory
Walker F. Todd, Federal Reserve Bank of Cleveland
Technology, Regulation and the Financial Services Industry in the Year 2000
Bert Ely, Ely & Company, Inc.
Robert A. Eisenbeis, University of North Carolina at Chapel Hill
Prudential Supervision to Manage Systemic Vulnerability
Jack Guttentag, University of Pennsylvania
Richard Herring, University of Pennsylvania
2:00 PM
XIII. Financial Restructuring—Risk and Efficiency
Is Securities Brokerage the Future of Banking?
Donald J. Crawford, Securities Industry Association
The Future of Banking: Are "Narrow" Banks the Answer?
Robert E. Litan, Brookings Institution
Will Firewalls Reduce Risk?
S. Waite Rawls, Continental Illinois Corporation
Financial Restructuring—Where Do We Go from Here?
Kenneth E. Scott, Stanford University

 

A Brief History of the Conference

Since the early 1960s the Federal Reserve Bank of Chicago’s Conference on Bank Structure and Competition has served as a forum for academics, regulators and industry participants to debate current issues affecting the financial services industry. Each year the purpose of the conference is to continue that tradition. This retrospective on the history and evolution of the conference reviews the past four decades of conferences.

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Event Information
Event Contact
Blanca Sepulveda
(312) 322-8340
Email
Date
05/11/88  - 05/13/88
Location
The Fairmont Chicago Hotel
200 N Columbus Dr
Chicago, Illinois 60601
Map


Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois 60604-1413, USA. Tel. (312) 322-5322

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