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The 41st 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 Financial Safety Net Issues.

Wednesday, 05/04/05
7:30 AM
Registration and Continental Breakfast
8:25 AM
Welcoming Remarks
Douglas D. Evanoff, Senior Financial Economist and Vice President, Federal Reserve Bank of Chicago
8:30 AM
Bank Regulation
Moderator and Discussant
Moshe Kim, University of Haifa
Bank Competition and the Design of Regulation
Franklin Allen, University of Pennsylvania
Elena Carletti, Center for Financial Studies
Robert Marquez, University of Maryland
The Impact of Explicit Deposit Insurance on Market Discipline
Vasso P. Ioannidou, Tilburg University
Jan de Dreu, Tilburg University
Predatory Lending?
Samuel G. Hanson, Federal Reserve Bank of New York
Donald P. Morgan, Federal Reserve Bank of New York
10:00 AM
Break
10:20 AM
Mergers and Lending Relationships
Moderator and Discussant
Astrid A. Dick, Federal Reserve Bank of New York
Information Asymmetries and the Effects of Banking Mergers on Firm—Bank Relationships
Steven Drucker, Stanford University, Graduate School of Business
SMEs and Bank Lending Relationships: The Impact of Mergers
Hans Degryse, Tilburg University, Center for Economic Policy Research and University of Leuven
Nancy Masschelein, National Bank of Belgium
Janet Mitchell, National Bank of Belgium
The Effect of Bank Mergers on Loan Prices: Evidence from the U.S.
Isil Erel, Massachusetts Institute of Technology, Sloan School of Management
12:00 PM
Luncheon
1:20 PM
Market Power and Market Structure
Moderator and Discussant
Mitchell A. Petersen, Northwestern University
What Determines Banks' Market Power? Akerlof versus Herfindahl
Moshe Kim, University of Haifa
Eirik Gaard Kristiansen, Norweigan School of Economics and Business Administration
Bent Vale, Norges Bank
Investment Strategies and Market Structure: An Empirical Analysis of Bank Branching Decisions
Andrew M. Cohen, Board of Governors of the Federal Reserve System
Michael J. Mazzeo, Northwestern University
Acquisition of Information in Loan Markets and Bank Market Power: An Empirical Investigation
Karl-Hermann Fischer, Johann Wolfgang Goethe University
Bank Loans, Bonds and Information Monopolies across the Business Cycle
João A. C. Santos, Federal Reserve Bank of New York
Andrew J. Winton, University of Minnesota
3:10 PM
Break
3:30 PM
Bank Liquidity
Moderator and Discussant
Mark J. Flannery, University of Florida
Bank Capital and Liquidity Creation
Allen N. Berger, Board of Governors of the Federal Reserve System
Christa H. S. Bouwman, University of Michigan Business School
Asymmetric Information and Liquidity Constraints: A More Complete Test
Dmytro Holod, University of Kentucky
Joe Peek, University of Kentucky
Relationship Lending, Accounting Disclosure and Credit Availability during the Asian Financial Crisis
Wenying Jiangli, Federal Deposit Insurance Corporation
Haluk Ünal, University of Maryland
Chiwon Yom, Federal Deposit Insurance Corporation
5:15 PM
Reception
Thursday, 05/05/05
7:00 AM
Registration and Continental Breakfast
8:15 AM
Welcoming Remarks
Michael H. Moskow, President and Chief Executive Officer, Federal Reserve Bank of Chicago
8:25 AM
Keynote Address
Alan Greenspan, Chairman, Board of Governors of the Federal Reserve System
9:25 AM
Break
9:50 AM
Theme Panel: Financial Safety Net Issues
Moderator
William C. Hunter, Senior Vice President and Director of Research, Federal Reserve Bank of Chicago
Speakers
Kenneth A. Guenther, Executive Vice President, Independent Community Bankers of America
Robert E. Litan, Vice President and Director, Economic Studies, and Cabot Family Chair in Economics, Brookings Institution
Laurence H. Meyer, Governor, Board of Governors of the Federal Reserve System
Arthur J. Murton, Director, Division of Insurance, Federal Deposit Insurance Corporation
Thomas H. Stanton, Fellow, Center for the Study of American Government, Johns Hopkins University
12:10 PM
Luncheon
Keynote
The Honourable Jim Peterson, Secretary of State (International Financial Institutions), Canadian Department of Finance
1:55 PM
The Impact of GSEs on the Underlying Markets
Moderator
Alex J. Pollock, President and CEO, Federal Home Loan Bank of Chicago
The Simple Microeconomics of Government-Sponsored Enterprises
Wayne Passmore, Board of Governors of the Federal Reserve System
Roger Sparks, Mills College
The Effects of Purchases of Mortgages and Securitization by Government-Sponsored Enterprises on Mortgage Yield Spreads and Volatility
Alden Toevs, First Manhattan Consulting Group
Andy Naranjo, University of Florida
Do Federal Home Loan Bank Membership and Advances Lead to More Bank Risk?
Dusan Stojanovic, Federal Reserve Bank of St. Louis
Mark D. Vaughan, Federal Reserve Bank of St. Louis
Timothy J. Yeager, Federal Reserve Bank of St. Louis
3:25 PM
Break
3:45 PM
Alternative Deposit Insurance Structures
Moderator
George G. Kaufman, John F. Smith, Jr. Professor of Finance and Economics, Loyola University Chicago
Developing Effective Deposit Insurance Systems
J. P. Sabourin, President and Chief Executive Officer, Canada Deposit Insurance Corporation, and Chairman, Financial Stability Forum, Working Group on Deposit
How Good Are European Union Deposit Insurance Schemes?
Maximilian J. B. Hall, Loughborough University
Designing Financial Safety Nets to Fit Country Circumstances
Edward J. Kane, Boston College
Estimating Fair Deposit Insurance Premiums for a Sample of Banks under a New Long-Term Insurance Pricing Methodology
George G. Pennacchi, University of Illinois at Urbana-Champaign
5:45 PM
Reception
Friday, 05/06/05
7:30 AM
Continental Breakfast
8:30 AM
Concurrent Sessions
Session A: Bank Business Strategies
Moderator
James T. Moser, Federal Reserve Bank of Chicago
The Diffusion of a Financial Innovation: An Examination of the Early Adoption of Small Business Credit Scoring
Jalal Akhavein, University of Pennsylvania
W. Scott Frame, Federal Reserve Bank of Atlanta
Lawrence J. White, New York University
Internet-only Banks: Learning Curves and Financial Performance
Robert DeYoung, Federal Reserve Bank of Chicago
Recent Trends in Bank Loan Syndications: Evidence for 1995 to 1999
Jonathan D. Jones, Office of Thrift Supervision
William W. Lang, Office of the Comptroller of the Currency
Peter J. Nigro, Office of the Comptroller of the Currency
8:30 AM
Session B: Perusing Regulatory Reform
Moderator
Nicola Cetorelli, Federal Reserve Bank of Chicago
Issues of Deposit Insurance Reform
James A. Wilcox, Office of the Comptroller of the Currency and University of California, Berkeley
Deregulation and Correspondent Banking
James J. McAndrews, Federal Reserve Bank of New York
Philip E. Strahan, Federal Reserve Bank of New York and Massachusetts Institute of Technology
The Competitive Analysis in the Banking Industry No Longer Reflects Reality
Douglas V. Austin, Austin Financial Services, Inc.
Craig D. Bernard, Austin Financial Services, Inc.
9:45 AM
Concurrent Sessions
Session C: Regulatory Incentive Alignment
Moderator
Elijah Brewer III, Federal Reserve Bank of Chicago
Size, Charter Value, and Risk in Banking: An International Perspective
Gianni De Nicoló, International Monetary Fund
Local Market Entry and Bank Efficiency
Douglas Evanoff, Federal Reserve Bank of Chicago
Evren Örs, Southern Illinois University
Local Bank Office Ownership, Deposit Control, Market Structure and Economic Growth
Robert N. Collender, U. S. Department of Agriculture
Sherrill L. Shaffer, University of Wyoming
9:45 AM
Session D: Financial Crisis
Moderator
David A. Marshall, Federal Reserve Bank of Chicago
The Costs and Benefits of Moral Suasion: Evidence from the Rescue of Long-Term Capital Management
Craig Furfine, Bank for International Settlements
Does Deposit Insurance Increase Banking System Stability? An Empirical Investigation
Asli Demirgüç-Kunt, World Bank
Enrica Detragiache, International Monetary Fund
Did Depositors Discipline Financial Institutions in Pre-Crisis Thailand? Implications for the Thai Crisis
Timothy P. Opiela, DePaul University
10:00 AM
Break
12:00 PM
Luncheon
Introduction
Michael H. Moskow, President and Chief Executive Officer, Federal Reserve Bank of Chicago
Keynote
Armando Falcon, Jr., Director, Office of Federal Housing Enterprise Oversight (OFHEO)
1:40 PM
GSEs: The Impact on Mortgage Markets
Moderator
Robert R. Bliss, Federal Reserve Bank of Chicago
Fannie Mae and the Mortgage Market: Setting the Record Straight
Timothy Howard, Executive Vice President and Chief Financial Officer, Federal National Mortgage Association (Fannie Mae)
GSEs as Instruments of Federal Policy: Public Benefits and Public Costs
Bert Ely, President, Ely & Company Inc.
Costs and Benefits of Mortgage GSEs
James C. Miller III, Senior Fellow, Hoover Institution, Stanford University
The Structure of Federal Subsidies: Deposit Insurance versus Sponsorship of GSEs
Richard Scott Carnell, Fordham Law School

 

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.

Read More...

Event Information
Event Contact
Blanca Sepulveda
(312) 322-8340
Email
Date
05/04/05  - 05/06/05
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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