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The 36th 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 The (Declining) Role of Banking.

Wednesday, 05/04/94
8:00 AM
I. Special Addresses
Optimal Bank Supervision in a Changing World
Alan Greenspan, Chairman, Board of Governors of the Federal Reserve System
Supervising an Evolving Industry
Eugene A. Ludwig, Comptroller of the Currency
9:00 AM
II. The (Declining?) Role of Banking
Has Banking Declined?
Silas Keehn, Federal Reserve Bank of Chicago
Comments on The (Declining?) Role of Banking
Carter H. Golembe, CHG Consulting
Banks Are Obsolete — And Who Cares?
Edward E. Furash, Furash & Company
The Relative Decline of Banking: Should We Care?
Robert E. Litan, U.S. Department of Justice
Insights on the Parallel Banking Industry
William E. Odom, Ford Motor Credit Company
12:00 PM
III. Public Policy Implications of the Decline of Banking
Will the Alleged Decline of Banking Affect CRA?
Lawrence B. Lindsey, Board of Governors of the Federal Reserve System
The Decline of Commercial Banking: Implications for Monetary Policy
Benjamin M. Friedman, Harvard University
Financial Instability and the Decline (?) of Banking: Public Policy Implications
Hyman P. Minsky, Jerome Levy Institute, Bard College
The Implications of "Banking's Decline" for Safety and Soundness Regulation
Mark J. Flannery, University of Florida
2:00 PM
IV. Bank Strategies for Survival and Success
Selecting a Strategy for Success
Richard M. Kovacevich, Norwest Corporation
Bank Strategies for Survival and Success
John B. McCoy, Banc One Corporation
Strategic Focus in Banking
Thomas C. Theobald, Continental Bank, N.A.
Thursday, 05/05/94
8:00 AM
V. The Viability of Banking
Are Banks Dead? Or, Are the Reports Greatly Exaggerated?
John H. Boyd, Federal Reserve Bank of Minneapolis
Mark Gertler, New York University
Will Banking Be Profitable in the Long Run?
Mark E. Levonian, Federal Reserve Bank of San Francisco
Inferring Viability of the U.S. Banking Industry from Shifts in Conduct and Excess Capacity
Sherrill Shaffer, Federal Reserve Bank of Philadelphia
Bottomline Banking: Regaining the Lost Paradigm
Larry A. Frieder, Florida A & M University
Robert B. Hedges, Jr., Shawmut National Corporation
10:00 AM
VI. The Effect of Derivatives on Banking Activities
The Derivatives Activities of U.S. Commercial Banks
Joseph F. Sinkey, Jr., University of Georgia
David Carter, University of Georgia
An Evaluation of the Effects of Accounting Rules on Interest Rate Risk Management in the Savings and Loan Industry
Catherine Schrand, University of Chicago
The Effect of Bank-Held Derivatives on Credit Accessibility
Elijah Brewer III, University of Illinois at Urbana-Champaign
Bernadette A. Minton, Federal Reserve Bank of Chicago
James T. Moser, Federal Reserve Bank of Chicago
12:00 PM
VII. Regulatory Performance
Federal Reserve Lending to Banks That Failed: Implications for the Bank Insurance Fund
R. Alton Gilbert, Federal Reserve Bank of St. Louis
How Much Did Capital Forbearance Add to the Tab for the FSLIC Mess?
Edward J. Kane, Boston College
Min-Teh Yu, National Central University
Dividend Behavior of Financially Distressed Savings Institutions
Randall S. Kroszner, University of Chicago
Philip E. Strahan, Federal Reserve Bank of New York
2:00 PM
VIII. Regulatory Reform Proposals
The Implications of Financial Cycles for Subordinated Debt Proposals
Richard E. Randall, Federal Reserve Bank of Boston
The Parallel Banking System
Jane W. D'Arista, Boston University
Tom Schlesinger, Southern Finance Project
Corporate Finance, Market Discipline and Bank Supervision
Mark J. Flannery, University of Florida
Friday, 05/06/94
8:00 AM
IX. Loan Market Innovations
Loan Market Competition between Foreign and U.S. Banks: Some Facts about Loans and Borrowers
Charles Calomiris, University of Illinois at Urbana–Champaign
Mark Carey, Board of Governors of the Federal Reserve System
The Emerging Source of Small Business Finance
Cynthia A. Glassman, Furash & Company
Evidence on the Relationship between Regional Economic Conditions and Loan Sales Activity
Rebecca S. Demsetz, Federal Reserve Bank of New York
9:00 AM
X. Risk and Bank Capital Standards
Beyond Traditional Credit Risk: Capital Standards for Market Risks
Mark E. Levonian, Federal Reserve Bank of San Francisco
Estimating the Interest Rate Sensitivity of Liquid Retail Deposit Values
James O'Brien, Board of Governors of the Federal Reserve System
Athanasios Orphanides, Board of Governors of the Federal Reserve System
David Small, Board of Governors of the Federal Reserve System
Banks' Exposure to Interest Rate Risk and Capital Adequacy: An Appraisal of the Federal Banking Agencies' Approach
Gerald A. Hanweck, George Mason University
Bernard Shull, City University of New York, Hunter College
11:00 AM
XI. Objectives of Bank Management
Discussion of "Objectives of Bank Management"
James B. Thomson, Federal Reserve Bank of Cleveland
Alternative Methods of Corporate Control in Commercial Banks
Stephen Prowse, Board of Governors of the Federal Reserve System
Evidence on the Objectives of Bank Managers
Joseph P. Hughes, Rutgers University
Loretta J. Mester, Federal Reserve Bank of Philadelphia
Fee-Based Services and Cost Efficiency in Commercial Banks
Robert DeYoung, Office of the Comptroller of the Currency
1:00 PM
XII. The Role of Intermediation in Community Development
Financial Intermediation and Development Lending: The Foreign Experience and Implications for the U.S.
Aruna Srinivasan, Federal Reserve Bank of Atlanta
Community Development Banking and Financial Institutions Act: A Critique with Recommendations
Robert M. Townsend, University of Chicago
2:00 PM
XIII. Bank Uniqueness
The Certification Value of Bank Loans
Simon H. Kwan, University of Arizona
Reduced Form Evidence on the Substitutability between Bank and Nonbank Loans
Sean Becketti, CS First Boston
Charles Morris, Federal Reserve Bank of Kansas City
Lines of Credit and Relationship Lending in Small Firm Finance
Allen N. Berger, Board of Governors of the Federal Reserve System
Gregory F. Udell, New York University
3:00 PM
XIV. Market Information Dissemination
Discussion of "Market Information Dissemination"
Harold A. Black, University of Tennessee
The Intra-Industry Effects of Bank Bond Rating Changes
Robert Schweitzer, University of Delaware
Samuel H. Szewczyk, Drexel University
Raj Varma, University of Delaware
The Information Content of Bank Examinations
Allen N. Berger, Board of Governors of the Federal Reserve System
Sally M. Davies, Board of Governors of the Federal Reserve System
Conditional Risk and Return in Bank Holding Company Stocks: A Factor-GARCH Approach
Jonathan A. Neuberger, Federal Reserve Bank of San Francisco

 

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
05/04/94  - 05/06/94
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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