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The 25th 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, 05/03/89
8:00 AM
A Retrospective
The First Quarter Century of the Bank Structure Conference
George G. Kaufman, Loyola University Chicago
Larry R. Mote, Federal Reserve Bank of Chicago
Harvey Rosenblum, Federal Reserve Bank of Dallas
8:30 AM
I. Special Addresses
Banking System Risk: Charting a New Course
Silas Keehn, Federal Reserve Bank of Chicago
Government and Banking: Some Historical Perspectives on Present Problems
Carter H. Golembe, The Secura Group
Altering Incentives in an Evolving Depository System: Safe Banking for the 1990s
Manuel H. Johnson, Board of Governors of the Federal Reserve System
Firewalls and the Structure of the Future
Dennis Weatherstone, Morgan Guaranty Trust
10:30 AM
II. The Condition of the Banking Industry
Bank Risk: A Status Report
Daryl R. Leehaug, Duff and Phelps
Comments on Corporate Debt
Ben S. Bernanke, Princeton University
The Real and Imaginary Risks of Leveraged Buyout Lending
Joseph A. Manganello, Bankers Trust Company
1:00 PM
III. Deposit Insurance and Capital Requirements
Pricing Deposit Insurance When the Insurer Measures Risk with Error
Mark J. Flannery, University of North Carolina
Deposit Insurance, Risk and Market Power in Banking
Michael C. Keeley, Federal Reserve Bank of San Francisco
Valuation Effects of New Capital Issues by Large Bank Holding Companies
Larry D. Wall, Federal Reserve Bank of Atlanta
Pamela P. Peterson, Florida State University
3:00 PM
IV. Credit Risk
Collateral, Loan Quality and Bank Risk
Allen N. Berger, Board of Governors of the Federal Reserve System
Gregory F. Udell, Board of Governors of the Federal Reserve System
Consequences of Going Private Buyouts for Public Debt and Preferred Stock: 1974–1985
Laurentius Marais, University of Chicago
Katherine Schipper, University of Chicago
Abbie Smith, University of Chicago
Thursday, 05/04/89
8:00 AM
V. Historical Evidence on the Role of Deposit Insurance and the Lender of Last Resort
The Fed's Failure to Act as Lender of Last Resort during the Great Depression, 1929–1933
David C. Wheelock, University of Texas at Austin
The Lender of Last Resort: Some Historical Insights
Michael D. Bordo, University of South Carolina
Success and Failure in Pre–Depression Bank Liability Insurance
Charles W. Calomiris, Northwestern University and the Federal Reserve Bank of Chicago
The Performance of the Canadian Banking System, 1920–1940
Lawrence Kryzanowski, Concordia University
Gordon S. Roberts, Dalhousie University
10:00 AM
VI. The New Financial History—What We Shouldn't Have Learned from Past Financial Crises
Public Policy and the Evolution of Banking Markets
Gary Gorton, The Wharton School
Taking a New Look at Some Old Banking Lessons
Arthur J. Rolnick, Federal Reserve Bank of Minneapolis
Commercial Banks and Securities Markets: Lessons of the 1920s and 1930s for the 1980s and 1990s
Eugene N. White, Rutgers University
12:00 PM
VII. Investment Banking
Going Public: The Advantages of Using an Investment Banker's Premarketing Sector
Lawrence M. Benveniste, Boston College
Paul A. Spindt, Board of Governors of the Federal Reserve System
Raiders, Junk Bonds and Risk
Roger Craine, University of California at Berkeley
1:00 PM
VIII. Future Challenges for Regulation
Implications of the Texas Experience for Financial Regulation
Paul M. Horvitz, University of Houston
Investment Banking in Europe after 1992
Ingo Walter, New York University
Roy C. Smith, New York University
The Globalization of Trading and Its Implications for Financial System Risk
Kenneth R. Cone, Chicago Mercantile Exchange
The Changing Regulatory Environment: A Critique
James Annable, First National Bank of Chicago
3:00 PM
IX. The Thrift Industry
Moral Hazard and the Thrift Crisis: An Analysis of 1988 Resolutions
James R. Barth, Federal Home Loan Bank Board
Philip F. Bartholomew, Federal Home Loan Bank Board
Carol J. Labich, Federal Home Loan Bank Board
The Future of Thrifts in the Mortgage Market
Andrew S. Carron, First Boston Corporation
R. Dan Brumbaugh, Stanford University
Friday, 05/05/89
8:00 AM
X. Diversification and Risk
The Risk of Existing Nonbank Activities
Elijah Brewer III, Federal Reserve Bank of Chicago
Pooling Intensifies Joint Failure Risk: Abstract
Sherrill Shaffer, Federal Reserve Bank of Philadelphia
9:00 AM
XI. Bank Failures and Failure Resolution
Assessing the Risk of Bank Failure
Gregory R. Gajewski, U. S. Department of Agriculture
Value Creation and Excess Returns in FSLIC-Assisted Acquisitions
Rebel A. Cole, Federal Reserve Bank of Dallas
Robert A. Eisenbeis, University of North Carolina at Chapel Hill
Asset Disposition in Bank Failures: Theory and Practice
John F. Bovenzi, Federal Deposit Insurance Corporation
George E. French, Federal Deposit Insurance Corporation
Arthur J. Murton, Federal Deposit Insurance Corporation
11:00 AM
XII. Market Value Accounting
Opening Remarks for the Panel Discussion: "Market Value Accounting"
S. Waite Rawls III, Continental Bank Corporation
Historical Perspectives in Accounting for Financial Institutions' Performance
Donald G. Simonson, University of New Mexico
George H. Hempel, Southern Methodist University
Some Red Flags Concerning Market Value Accounting
Allen N. Berger, Board of Governors of the Federal Reserve System
Kathleen A. Kuester, Board of Governors of the Federal Reserve System
James M. O'Brien, Board of Governors of the Federal Reserve System
Market Value Accounting: Benefits, Costs and Incentives
George J. Benston, Emory University
1:00 PM
XIII. Policy Recommendations for Controlling Risk
Remarks for the Panel on Policy Recommendations for Controlling Risk
John P. LaWare, Board of Governors of the Federal Reserve System
Federal Reserve Bank of Chicago Panel: Policy Recommendations for Controlling Risk
Thomas C. Theobald, Continental Bank Corporation
The Reform of Federal Deposit Insurance
Lawrence J. White, Federal Home Loan Bank

 

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
05/03/89  - 05/05/89
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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