48th Annual Conference on Bank Structure and Competition

In the aftermath of the recent financial crisis, there have been calls to increase both regulatory scrutiny and capital requirements in the banking industry. Many would argue that, prior to the crisis, banks were required to hold less capital than the markets would require absent a government safety net. In the U.S., the push for reform led to the passage of the Dodd–Frank Act in 2010. The Basel Committee responded with a proposal to increase capital and liquidity requirements. As new regulations are being implemented, many are calling for additional capital in the industry and further capital surcharges for individual banks in relation to their systemic importance. Some argue that the new regulations are excessive, imposing burdens that exceed the benefits from the additional capital. Others argue that the additional capital is necessary, will not be expensive for the industry and will have little impact on the ability of banks to intermediate.


At this year’s conference, we will debate the issues associated with proposals to increase bank capital. Are banks undercapitalized in the current environment? What are the implications of increasing bank capital for bank lending and bank risk-taking? How will these developments affect the competitiveness of the industry? This is a topic that will only increase in importance over the coming months.

 

The major component of the conference begins Thursday morning. To address the questions we have raised this year, and related issues, we will bring together industry leaders, scholars and regulatory authorities.

 

Please note that the Wednesday sessions of the conference are directed toward a more technical research audience and will be of  interest to academics and financial research economists.

Conference Highlights

  • Ben S. Bernanke, Chairman, Board of Governors of the Federal Reserve System
  • Martin J. Gruenberg, Acting Chairman, U.S. Federal Deposit Insurance Corporation
  • Eugene Ludwig, Founder and Chief Executive Officer, Promontory Financial Group LLC
  • Panel of Industry Experts Addressing Bank Capital - How much Is Enough?
  • Panel Discussing Mortgage Financing beyond the GSEs
  • Panel Discussing Macroprudential Regulatory Policy
  • Panel of Experts Discussing Bank Stress Tests

 

Information will be updated on this website as it becomes available. Receptions and luncheons will be provided. For additional conference information, contact Sandy Schneider at (312) 322-8203 or via e-mail or Ella Dukes at (312) 322-5757 or e-mail.

 

 


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Ben S. Bernanke
Chairman, Board of Governors of the Federal Reserve System

Ben S. Bernanke began a second term as Chairman of the Board of Governors of the Federal Reserve System on February 1, 2010. Bernanke also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body. He originally took office as Chairman on February 1, 2006, when he also began a 14-year term as a member of the Board. His second term as Chairman ends January 31, 2014, and his term as a Board member ends January 31, 2020.

 

Before his appointment as Chairman, Bernanke was Chairman of the President's Council of Economic Advisers, from June 2005 to January 2006. Read more... 

Martin J. Gruenberg
Acting Chair, Federal Deposit Insurance Corporation

Martin J. Gruenberg has served on the Federal Deposit Insurance Corporation's (FDIC) Board of Directors since August 22, 2005. As Vice Chairman of the Board, he assumed the role of Acting Chairman on July 8, 2011, upon Sheila C. Bair's departure as FDIC Chairman. He previously served as Acting Chairman from November 15, 2005, to June 26, 2006.

 

Gruenberg joined the FDIC Board after broad congressional experience in the financial services and regulatory areas. He served as Senior Counsel to Senator Paul S. Sarbanes (D-MD) on the staff of the Senate Committee on Banking, Housing, and Urban Affairs from 1993 to 2005. Gruenberg advised the Senator on issues of domestic and international financial regulation, monetary policy and trade. He also served as Staff Director of the Banking Committee's Subcommittee on International Finance and Monetary Policy from 1987 to 1992. Major legislation in which Gruenberg played an active role during his service on the Committee includes the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA); the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA); the Gramm-Leach-Bliley Act; and the Sarbanes-Oxley Act of 2002.

 

Since November 2, 2007, Gruenberg has also served as Chairman of the Executive Council and President of the International Association of Deposit Insurers (IADI).

 

Gruenberg holds an A.B. from Princeton University, Woodrow Wilson School of Public and International Affairs nd a a J.D. from Case Western Reserve Law School.


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05/09/12
7:30 AM
Registration and Continental Breakfast

Please note that the major component of the conference begins Thursday morning with Chairman Bernanke's keynote address. Although registrants are invited to attend all sessions, the Wednesday sessions are directed  toward a more technical research audience and will be of interest to academics and financial research economists.

8:25 AM
Welcoming Remarks
Douglas D Evanoff, Senior Financial Economist and Vice President, Federal Reserve Bank of Chicago
8:30 AM
Credit Constraints
Moderator and Discussant
Charles M Kahn, University of Illinois at Urbana-Champaign
Elena Carletti, European University Institute
Agnese Leonello, University of Pennsylvania
Jianjun Miao, Boston University
Pengfei Wang, Hong Kong University of Science and Technology
Viral Acharya, New York University
Nada Mora, Federal Reserve Bank of Kansas City
10:00 AM
Break
10:20 AM
Portfolio Decisions
Moderator and Discussant
Gregory F Udell, Indiana University
Robert DeYoung, University of Kansas
Anne Gron, NERA Economic Consulting
Gokhan Torna, University of Kansas
Andrew Winton, University of Minnesota
Felix Freudenberg, Goethe University Frankfurt
Björn Imbierowicz, Goethe University Frankfurt
Anthony Saunders, New York University
Sascha Steffen, European School of Management and Technology
Lily Fang, INSEAD
Victoria Ivashina, Harvard University
Josh Lerner, Harvard University
12:00 PM
Luncheon
1:20 PM
Banking Market Integration and Interconnectedness
Moderator and Discussant
Mitchell A Petersen, Northwestern University
Nicola Cetorelli, Federal Reserve Bank of New York
Linda S Goldberg, Federal Reserve Bank of New York
Jose Berrospide, Board of Governors of the Federal Reserve System
Lamont Black, Board of Governors of the Federal Reserve System
William Keeton, Federal Reserve Bank of Kansas City
Elena Loutskina, University of Virginia
Philip E Strahan, Boston College
Martin Goetz, Federal Reserve Bank of Boston
Luc Laeven, International Monetary Fund
Ross Levine, Brown University
3:20 PM
Break
3:40 PM
Bank Capital Requirements
Moderator and Discussant
Santiago Carbó Valverde, University of Granada, Spain
Pedro Gete, Georgetown University
Natalie Tiernan, Georgetown University
Francesco Vallascas, University of Leeds, UK
Jens Hagendorff, University of Edinburgh Business School, UK
Nan Chen, Chinese University of Hong Kong
Paul Glasserman, Columbia University
Behzad Nouri, Columbia University
5:15 PM
Reception
05/10/12
7:15 AM
Registration and Continental Breakfast
8:25 AM
Welcoming Remarks
Charles L Evans, President and Chief Executive Officer, Federal Reserve Bank of Chicago
8:30 AM
Keynote Address
Ben S Bernanke, Chairman, Board of Governors of the Federal Reserve System (Via Satellite)
9:15 AM
Break
9:45 AM
Theme Panel: Bank Capital: How Much Is Enough?
Moderator
Daniel G Sullivan, Executive Vice President and Director of Research, Federal Reserve Bank of Chicago
Panelists
Anat R Admati, Stanford University
Richard X Bove, Rochdale Securities
Mark J Flannery, University of Florida
Samuel G Hanson, Harvard University
Frank Sorrentino III, North Jersey Community Bank
12:10 PM
Luncheon and Keynote
Introduction
, First Vice President and Chief Operating Officer, Federal Reserve Bank of Chicago
Speaker
Martin J Gruenberg, Acting Chairman, Federal Deposit Insurance Corporation
1:55 PM
Macroprudential Policy
Moderator
Spencer Krane, Senior Vice President, Federal Reserve Bank of Chicago
Panelists
Jesus Saurina, Banco de España
Charles W Calomiris, Columbia University
Edward Kane, Boston College and National Bureau of Economic Research
3:25 PM
Break
3:50 PM
Bank Stress Testing
Moderator
Cathy Lemieux, Executive Vice President, Federal Reserve Bank of Chicago
Panelists
Lisa Ryu, Board of Governors of the Federal Reserve System
John Fell, European Central Bank
Lewis Alexander, Nomura Securities Company, Ltd.
5:15 PM
Reception
05/11/12
7:30 AM
Continental Breakfast
8:30 AM
What Went Wrong in the Crisis? Risk and Incentives
Moderator
Hesna Genay, Senior Economist and Research Advisor, Federal Reserve Bank of Chicago
Yener Altunbas, Bangor University
Simone Manganelli, European Central Bank
David Marques-Ibanez, European Central Bank
Larry Cordell, Federal Reserve Bank of Philadelphia
Yilin Huang, Federal Reserve Bank of Philadelphia
Meredith Williams, Federal Reserve Bank of Philadelphia
Isil Erel, Ohio State University
Taylor Nadauld, Brigham Young University
René M Stulz, Ohio State University
10:00 AM
Break
10:20 AM
Mortgage Financing beyond the GSEs
Moderator
Wayne Passmore, Board of Governors of the Federal Reserve System
Panelists
Stuart Gabriel, University of California at Los Angeles
Chris Russell, Committee on Financial Services, U.S. House of Representatives
Matthew Kabaker, Centerbridge Partners, L.P.
Diana Hancock, Board of Governors of the Federal Reserve System
12:15 PM
Luncheon and Keynote
Introduction
Daniel G Sullivan, Executive Vice President and Director of Research, Federal Reserve Bank of Chicago
Speaker
Eugene A Ludwig, Founder and Chief Executive Officer, Promontory Financial Group, LLC
1:45 PM
Loan Contracting
Moderator
Richard Rosen, Senior Financial Economist and Research Advisor, Federal Reserve Bank of Chicago
Loan Officer Incentives and the Limits of Hard Information
Tobias Berg, Humboldt University Berlin
Manju Puri, Duke University
Jörg Rocholl, European School of Management and Technology
Allen N Berger, University of South Carolina
W Scott Frame, Federal Reserve Bank of Atlanta
Vasso Ioannidou, Tilburg University
Hans Degryse, Tilburg University
Vasso Ioannidou, Tilburg University
Erik von Schedvin, Tilburg University and Sveriges Riksbank
1:45 PM

Conference concludes at 3:30 p.m.

 

 

 

Last Updated: 05/17/2012


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Hotel and Area Information

JW Marriott Hotel
151 W Adams
Chicago ,  IL   60603

Tel: (312) 660-8200

Website

 

Rate:  $265.00 + 16.4% Chicago Hotel Occupancy Tax
Block availability date: Immediately
Cut-off date: 5:00 p.m., Tuesday, April 17. Please reserve your room in a timely matter to ensure availability. Reservations made after the cut-off dates will be subject to availability and prevailing rate.

 

Reservations: Please call (877) 303-0104 and mention you are with the Federal Reserve Bank Structure Conference, or you may also register online. You will need a credit card to secure your reservation.

 

The premier luxury hotel in Chicago's Central Business district, the JW Marriott is located next door to the Chicago Fed. Amenities include a 20,000 square foot  world class spa, indoor pool, luxury sleeping rooms featuring indulgent linens and oversized bathrooms. On-site restaurant and two bars are perfect gathering spots for conference attendees.


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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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