Joint Conference: The European Central Bank and the Journal of Money, Credit and Banking

March 28-29, 2019, Frankfurt, Germany

Thursday, 28 March 2019

Opening remarks:

Luis de Guindos, Vice-President, European Central Bank
Robert DeYoung, Co-Editor, Journal of Money, Credit and Banking

Academic keynote speech: Gary Gorton, Yale School of Management

Session 1: The future of financial intermediation
Chair: Robert DeYoung, University of Kansas

“On the scale of financial intermediaries,” Tobias Adrian, International Monetary Fund, Nina Boyarchenko, Federal Reserve Bank of New York, Hyun Song Shin, Bank for International Settlement

Discussant: Deborah Lucas, MIT Sloan School of Management

“Open banking and capital requirements,” Peter Eccles, Bank of England, Paul Grout, University of Bristol, Paolo Siciliani, Bank of England

Discussant: Jean-Charles Rochet, Geneva Finance Research Institute

Session 2: Information in banking
Chair: Luc Laeven, European Central Bank

“Bad times, good credit,” Bo Becker, Stockholm School of Economics, Marieke Bos, Stockholm University, Kasper Roszbach, Norges Bank

Discussant: Evren Ors, HEC Paris

“Show me yours and I’ll show you mine: information sharing in a competitive microcredit market,” Ralph De Haas, European Bank for Reconstruction and Development, Matteo Millone, VU University Amsterdam, Jaap Bos, Maastricht University

Discussant: Marco Pagano, University of Naples

Policy panel:
Moderator: Stephen G. Cecchetti, Brandeis International Business School

Mark Flannery, University of Florida
Anil Kashyap, University of Chicago
Isabel Schnabel, University of Bonn
Til Schuermann, Oliver Wyman

Friday, 29 March 2019

Session 3: Risk taking and regulatory arbitrage
Chair: Stefan Walter, European Central Bank

“Negative monetary policy rates and systemic banks’ risk-taking: evidence from the euro area administrative securities register,” Johannes Bubeck, University of Mannheim, Angela Maddaloni, European Central Bank, José-Luis Peydró, ICREA-Universitat Pompeu Fabra

Discussant: Skander Van den Heuvel, Federal Reserve Board

“Bank leverage limits and regulatory arbitrage: new evidence on a recurring question,” Dong Beom Choi, Federal Reserve Bank of New York, Michael R. Holcomb, Federal Reserve Bank of New York, Donald P. Morgan, Federal Reserve Bank of New York

Discussant: Joe Peek, Federal Reserve Bank of Boston

Policy keynote speech: Randal K. Quarles, Vice Chairman for Supervision, Federal Reserve Board and Chairman of the Financial Stability Board

Session 4: Trust and biases in financial intermediation
Chair: Philipp Hartmann, European Central Bank

“Domestic banks as lightning rods? Home bias and information during the eurozone crisis,” Orkun Saka, London School of Economics and Political Science

Discussant: Alexander Popov, European Central Bank

“Bank size and household financial sentiment: surprising evidence from University of Michigan Surveys of Consumers,” Allen N. Berger, University of South California, Felix Irresberger, University of Leeds, Raluca A. Roman, Federal Reserve Bank of Philadelphia

Discussant: Thorsten Beck, Cass School of Business

Closing remarks:
Philipp Hartmann, European Central Bank