The 32nd 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 Rethinking Bank Regulation: What Should Regulators Do?
Wednesday, 05/01/96
8:00 AM
I. Special Addresses
Speaker - The Evolving Role of Regulators
Alan Greenspan, Board of Governors of the Federal Reserve System
Speaker - Bank Structure and Competition and Pending Legislation
John D. Hawke, Jr., U.S. Treasury Department
Speaker - The Merits of Glass–Steagall Reform
James A. Leach, U.S. Congress
10:00 AM
II. Rethinking Bank Regulation: What Should Regulators Do?
Speaker - Regulatory Reform, Banks and Payment System Developments
W. Lee Hoskins, Huntington National Bank
Speaker - The Why, What and How of Bank Regulation
Edward W. Kelley, Jr., Board of Governors of the Federal Reserve System
Speaker - What Should Regulators Do in the Age of Money Managers?
Jane W. D'Arista, Boston University
Speaker - Bank Management Structure Obsolescence
Eugene A. Ludwig, Comptroller of the Currency
Speaker - What Should Bank Regulators Do? Why Should Regulators Do Anything?
George J. Benston, Emory University
12:00 PM
III. Lessons for Financial Regulation
Speakers - Internal Governance, Market Discipline and Regulatory Restraint: International Evidence
Gillian Garcia, International Monetary Fund
Matthew Saal, International Monetary Fund
Speaker - Prudential Policy in Japan
Akio Kuroda, Meiji University
Speaker - Lessons from New Zealand—Banking Supervision Review
Richard J. Lang, Reserve Bank of New Zealand
Speaker - Banking Regulation in the European Union: Some Issues and Concerns
Maximillian J. B. Hall, Loughborough University
Speakers - The Effect of Changes in Ownership Structure on Performance of Public Companies
Rebel A. Cole, Board of Governors of the Federal Reserve System
Hamid Mehran, Northwestern University
Speakers - The Effect of Regulatory Oversight on Internal and External Mechanisms to Change Corporate Control
Douglas O. Cook, University of Mississippi
Arthur Hogan, Office of Thrift Supervision
Robert Kieschnick, Federal Communications Commission
Speaker - Impact of the 1988 Basel Accord on International Banks
John D. Wagster, Wayne State University
Thursday, 05/02/96
8:00 AM
IV. Banking Industry Structure
Speaker - The Inevitability of Consolidation
Verne G. Istock, First Chicago NBD Corporation
Speaker - Bank Consolidation and the Consumer Interest
Stephen Brobeck, Consumer Federation of America
Speaker - Bank Consolidation and Shareholder Value
Thomas K. Brown, Donaldson, Lufkin & Jenrette
Speaker - Consolidation in the Banking Industry: An Antitrust Perspective
Anthony V. Nanni, U.S. Justice Department
Speaker - Measuring the Efficiency of Financial Institutions: The Importance of Choosing a Frontier
Diana Hancock, Board of Governors of the Federal Reserve System
Speakers - Banks as Multioutfit Oligopolies: An Empirical Evaluation of the Retail and Corporate Banking Markets
Sigbjørn Atle Berg, Norges Bank
Moshe Kim, University of Haifa
Speakers - Safety in Numbers? Geographic Diversification and Bnak Insolvency Risk
Joseph P. Hughes, Rutgers University
Wiliam W. Lang, Office of the Comptroller of the Currency
Loretta J. Mester, Federal Reserve Bank of Philadelphia
Choon-Geol Moon, Rutgers University
Speakers - Problem Loans and Cost Efficiency in Commercial Banks
Allen N. Berger, Board of Governors of the Federal Reserve System
Robert DeYoung, Office of the Comptroller of the Currency
12:00 PM
V. How Valuable Are Banking Relationships
Speakers - Banking Relationships, Financial Constraints and Investment: Are Bank-Dependent Borrowers More Financially Constrained?
Joel F. Houston, University of Florida
Christopher M. James, University of Florida
Speakers - Banking Relationships in Germany: Empirical Results and Policy Implications
Robert S. Chirinko, Emory University and Federal Reserve Bank of Kansas City
Julie Ann Elston, Wissenschaftszentrum Berlin and Stanford University
Speakers - Does Lending by Banks and Finance Companies Differ?
Mark Carey, Board of Governors of the Federal Reserve System
Mitch Post, Board of Governors of the Federal Reserve System
Stephen A. Sharpe, Board of Governors of the Federal Reserve System
2:00 PM
VI. Political Economics of Bank Regulation
Speakers - Competition among Financial Services Political Action Committees: Theory and Evidence
Randall S. Kroszner, University of Chicago
Thomas Stratmann, Montana State University
Speaker - The Politics of Bank Deregulation: Campaign Money, Exclusionary Rents and the Garn–St Germain Standoff 1983–84
Doug Eckel, Virginia Tech
Speaker - Foundations of Financial Regulation
Edward J. Kane, Boston College
Friday, 05/03/96
8:00 AM
VII. Risk Management
Speaker - Evaluation of Value-at-Risk Models Using Historical Data
Darryl Hendricks, Federal Reserve Bank of New York
Speakers - Improving Value-at-Risk Estimates by Combining Kernel Estimation with Historical Simulation
J. S. Butler, Vanderbilt University
Barry Schachter, Office of the Comptroller of the Currency
Speaker - Rethinking Risk Management for Banks: Lessons from Credit Derivatives
Gregory R. Duffee, Board of Governors of the Federal Reserve System
Speakers - Suspension of Payments and Bank Failures
Gerald P. Dwyer, Jr., Federal Reserve Bank of Atlanta
Iftekhar Hasan, New Jersey Institute of Technology
Speakers - Analyzing Alternative Daylight Credit Policies in Real-Time Gross Settlement Systems
Craig Furfine, Board of Governors of the Federal Reserve System
Jeff Stehm, Board of Governors of the Federal Reserve System
Speakers - Reconsidering Regulatory Standards for Clearing and Settlement Systems
William J. Hanley, Federal Reserve Bank of Chicago
Karen McCann, Federal Reserve Bank of Chicago
James T. Moser, Federal Reserve Bank of Chicago
12:00 PM
VIII. Bank Capital and Portfolio Choices
Speakers - The Social Cost of Bank Capital
Gary Gorton, University of Pennsylvania
Andrew Winton, Northwestern University
Speaker - Bank Capital Structures and the Demand for Liquid Assets
Alberto M. Ramos, University of Chicago
Speaker - Bank Capital and Equity Investment Regulations: A Comparative Analysis
João Cabral dos Santos, Federal Reserve Bank of Cleveland
Speakers - Bank Capital and Portfolio Management: The 1930s Capital Crunch and Scramble to Shed Risk
Charles W. Calomiris, University of Illinois
Berry Wilson, Georgetown University
2:00 PM
IX. Performance of Special Purpose and Financial Institutions
Speakers - The Relative Profitability of Commercial Banks Active in Lending in Lower-Income Neighborhoods and to Lower-Income Borrowers
Glenn Canner, Board of Governors of the Federal Reserve System
Wayne Passmore, Board of Governors of the Federal Reserve System
Speakers - CRA as "Market Development" or "Tax:" An Analysis of Lending Decisions and Economic Development
Christopher P. Beshouri, Office of the Comptroller of the Currency
Dennis C. Glennon, Office of the Comptroller of the Currency
Speakers - Performance and Access to Government Guarantees: The Case of Small Business Investment Companies
Elijah Brewer III, Federal Reserve Bank of Chicago
Hesna Genay, Federal Reserve Bank of Chicago
William E. Jackson III, University of North Carolina at Chapel Hill
Paula R. Worthington, Federal Reserve Bank of Chicago
