The 28th 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. This year's theme was Credit Markets in Transition.


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05/06/92
12:00 AM
I. Special Addresses
Alan Greenspan, Chairman, Board of Governors of the Federal Reserve System
Putting FDICIA in Perspective
E Gerald Corrigan, Federal Reserve Bank of New York
The Economic Implications of the Declining Importance of Banks
Assessing the Cost of Government Guarantees
Justine Farr Rodriguez, U.S. Office of Management & Budget
Richard L Cooperstein, U.S. Office of Management & Budget
F Stevens Redburn, U.S. Office of Management & Budget
Gary C Wendt, General Electric Financial Services
Is Regulation an Impediment to Success in Financial Services?
12:00 AM
II. Regulatory Intervention
Edward J Kane, Boston College
Incentive Conflict in Deposit-Insurance Regulation: Evidence from Australia
George G Kaufman, Loyola University
David S Jones, Board of Governors of the Federal Reserve System
The Implementation of Prompt Corrective Action
Kathleen Kuester King, Board of Governors of the Federal Reserve System
Bank Failure Resolution, the Cost Test and the Entry and Exit of Resources in the Banking Industry
Frederick S Carns, Federal Deposit Insurance Corporation
Lynn A Nejezchleb, Federal Deposit Insurance Corporation
FSLIC Forbearance and the Thrift Debacle
George J Benston, Emory University
Mike Carhill, Office of Comptroller of the Currency
Discussant Comments on Regulatory Intervention
R Alton Gilbert, Federal Reserve Bank of St. Louis
12:00 AM
III. Interest Rate Risk and Capital Requirements
A Market Evaluation of the Importance of Considering Non-Credit Risk in Setting Risk-Based Capital Standards
Lawrence R Cordell, Office of Thrift Supervision
Kathleen Kuester King, Board of Governors of the Federal Reserve System
Measurement of Interest Rate Risk for Depository Institution Capital Requirements and Preliminary Tests of a Simplified Approach
James M O'Brien, Board of Governors of the Federal Reserve System
Regulating Bank's Interest Rate Risk When Interest Rates Are Stochastic and Equity Has Limited Liability
Jin-Chuan Duan, McGill University
Arthur F Moreau, McGill University
C W Sealey, McGill University
12:00 AM
IV. Inside Information and the Allocation of Credit
M Cary Collins, University of Tennessee
Sources of Value in Lines of Credit: Evidence from the Lender's Perspective
Ramon P DeGennaro, University of Tennessee
Fayez A Elayan, Southwest Missouri State College
James W Wansley, University of Tennessee
Competition for More Than One Class of Borrowers Using Different Creditworthiness Tests
Larry D Wall, Federal Reserve Bank of Atlanta
Randall S Kroszner, University of Chicago
Some Evidence on the Separation of Commercial and Investment Banking
Raghuram G Rajan, University of Chicago
Charles W Calomiris, University of Illinois at Urbana–Champaign
Remarks on Inside Information in Banking
12:00 AM
V. Deregulation and the Changing Role of Banks
John B Caouette, Capital Markets Assurance Corporation
Securitization: What's Next?
A Banker's Perspective
David J Vitale, First National Bank of Chicago
Gary Gorton, The Wharton School
Nonbanks and the Future of Banking
George Pennacchi, University of Illinois at Urbana–Champaign
M Wayne Marr, Clemson University
The SEC and Financial Deregulation
Pawan Bareja, Clemson University
Bert Ely, Ely & Company, Inc.
Commercial Banks Are Not Obsolete and the Federal Government Should Stop Trying to Make Them So
Gary Gorton, The Wharton School
The Size of the Banking Industry and Managerial Enrichment
Richard Rosen, Board of Governors of the Federal Reserve System
Determinants of Bank Competitiveness in Short-Term Business Lending
Elizabeth S Laderman, Federal Reserve Bank of San Francisco
12:00 AM
VI. The Credit Crunch
Harvey Rosenblum, Federal Reserve Bank of Dallas
The Macroeconomic Impact of Bank Regulatory Policies
Patrick J Corcoran, Prudential Insurance Co.
The Credit Slowdown of 1989–91: The Role of Supply and Demand
Ben S Bernanke, Princeton University
The Bank Credit Crunch
Jerry L Jordan, Federal Reserve Bank of Cleveland
The Credit Crunch: A Monetarist's Perspective
Richard F Syron, Federal Reserve Bank of Boston
The New England Credit Crunch
Bank Capital Regulation and the New England Credit Crunch
Joe Peek, Federal Reserve Bank of Boston
Eric S Rosengren, Federal Reserve Bank of Boston
Diana Hancock, Board of Governors of the Federal Reserve System
The Effects on Bank Assets of Business Conditions and Capital Shortfalls
James A Wilcox, Board of Governors of the Federal Reserve System
James T Fergus, Board of Governors of the Federal Reserve System
Spatial Variation in Construction Loan Pricing at Commercial Banks
Frank E Nothaft, Federal Home Loan Mortgage Corporation
12:00 AM
VII. Consolidation in the Banking Industry
The 1992 Agency Horizontal Merger Guildelines and the Department of Justice's Approach to Bank Merger Analysis
Margaret E Guerin-Calvert, U.S. Department of Justice
Janusz A Ordover, U.S. Department of Justice
Consolidation and Bank Behavior
Mark Lynch, Bear, Stearns & Company, Inc.
An Empirical Examination of the Market for Corporate Control in the Banking Sector
Paul A Spindt, Tulane University
Vefa Tarhan, Loyola University
Alden L Toevs, First Manhattan Consulting Group
Under What Circumstances Do Bank Mergers Improve Efficiency?
Allen N Berger, Board of Governors of the Federal Reserve System
Competition, Efficiency and the Future of the Banking Industry
David B Humphrey, Florida State University
12:00 AM
VIII. Bank Mergers
Dwight B Crane, Harvard Business School
The Strategy of a Merger: Fleet and Bank of New England
Jane C Linder, Polaroid Corporation
Stephen A Rhoades, Board of Governors of the Federal Reserve System
The Efficiency Effects of Bank Mergers: Rationale for a Case Study Approach and Preliminary Findings
05/07/93
12:00 AM
IX. Bank Closure Policy
Comments on Bank and Thrift Closure Policy
Robert A Eisenbeis, University of North Carolina at Chapel Hill
Capital Forbearance and Thrifts: An Ex Post Examination of Regulatory Gambling
Ramon P DeGennaro, University of Tennessee
James B Thomson, Federal Reserve Bank of Cleveland
A Moral Hazard Rationale for Early Closure in FDICIA
Raman Kumar, Virginia Polytechnic Institute
George Emir Morgan, Virginia Polytechnic Institute
A Theory of Optimal Forbearance
S Nagarajan, Columbia University
C W Sealey, McGill University
12:00 AM
X. Banking in the Global Market
Sigbjørn Atle Berg, Norges Bank
The Banking Crises in the Scandinavian Countries
Charles W Calomiris, University of Illinois at Urbana–Champaign
Corporate–Finance Benefits from Universal Banking: Germany and the United States, 1870–1914
Deposit Guarantees, Nonperforming Loans and the Postal Savings System in Japan
Thomas F Cargill, University of Nevada
Geoffrey P Miller, University of Chicago
Politics of Deposit Insurance Reform: The Case of Argentina
12:00 AM
XI. FDICIA: Renaissance or Requiem?
Lawrence Connell, Society for Savings
The Implications of FDICIA for Bank Management
Remarks on FDICIA
William M Isaac, The Secura Group
FDICIA: Renaissance or Requiem?
George G Kaufman, Loyola University Chicago
Remarks on FDICIA
Richard L Thomas, First Chicago Corporation
Harrison Young, Federal Deposit Insurance Corporation
The Meaning of FDICIA
12:00 AM
XII. Bank Regulation after FDICIA
New Private Sector Deposit Insurance
Warren G Heller, VERIBANC, Inc.
Karen D Shaw, Institute for Strategy Development
Remarks on Banking after FDICIA
An Empirical Analysis of Regulatory Compliance
Anjan V Thakor, Indiana University
Jess C Beltz, Indiana University

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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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