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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Center for Financial Research

13th Bank Research Conference

Sponsored by the Federal Deposit Insurance Corporation's Center for Financial Research and the Journal of Financial Services Research

October 25-26, 2013

L. William Seidman Center
Hove Auditorium – A-3125
3501 Fairfax Drive
Arlington, Virginia 22226

Friday, October 25, 2013

8:00 - 8:45

- Registration & Continental Breakfast –

8:45 - 9:00

Welcoming Remarks:
Martin J. Gruenberg, FDIC Chairman

9:00 - 10:00

Keynote Address: Structural reforms and banking regulation: Perspectives for the Eurozone,
Jan Krahnen, Goethe Universität Frankfurt
Presentation - PDF 1,162K (PDF Help)

10:00 - 10:30

- Break -

10:30 - 12:00

Global Banks and Transmission
Session Chair and Discussant: Linda Goldberg, Federal Reserve Bank of New York
Presentation - PDF 889K (PDF Help)

Social Networks in the Global Banking Sector
Joel F. Houston, University of Florida
Jongsub Lee, University of Florida
Felix Suntheim, Financial Conduct Authority
Presentation - PDF 1,210K (PDF Help)

Euro Area Cross-border Banking: Before and After the Global Financial Crisis;
Pierluigi Bologna, Bank of Italy
Marianna Caccavaio, Bank of Italy
Presentation - PDF 290K(PDF Help)

Hot Money as a Transmission Channel of the Global Financial Crisis to Emerging Markets
Ana-Maria Fuertes, Cass Business School, City University London
Kate Phylaktis, Cass Business School, City University London
Cheng Yan, Cass Business School, City University London

12:00 - 12:30

Keynote Speaker:
Thomas M. Hoenig, FDIC Vice Chairman

12:30 - 1:30

- Lunch -

1:30 - 2:30

Financial Stability Theory
Session Chair and Discussant: Mark Carey, Federal Reserve Board
Presentation - PDF 100K(PDF Help)

Collateral Circulation and Repo Spreads
Jeongmin Lee, Smith School of Business, University of Maryland

Self-fulfilling Fire-sale, Bank Runs and Contagion: Implication for Bank Capital and Regulatory Transparency
Zhao Li, Universitat Pompeu Fabra
Kebin Ma, Tilburg University
Presentation - PDF 184K(PDF Help)

2:30 - 3:30

Crisis Management: Intended and Unintended Consequences
Session Chair and Discussant: Myron Kwast, FDIC
Presentation - PPT 289K (PPT Help)

Did TARP Banks Get Competitive Advantages?
Allen N. Berger, University of South Carolina
Raluca A. Roman, University of South Carolina
Presentation - PDF 421 (PDF Help)

Wishful Thinking or Effective Threat? Tightening Bank Resolution Regimes and Bank Risk-Taking
Magdalena Ignatowski, Goethe University Frankfurt
Josef Korte, Goethe University Frankfurt
Presentation - PDF 1152K (PDF Help)

3:30 - 4:00 - Break -
4:00 - 5:30

Bank Scope and Regulation
Session Chair and Discussant: Jean Helwege, University of South Carolina
Presentation - PDF 290K(PDF Help)

The Redistributive Effects of Financial Deregulation - PDF 527K
(PDF Help)
Anton Korinek, Johns Hopkins University and NBER
Jonathan Kreamer, University of Maryland
Presentation - PDF 290K(PDF Help)

How Did US Banks React to Capital Losses Induced by Real Estate Prices?
Vicente Cunat, London School of Economics
Dragana Cvijanovic, University of North Carolina at Chapel Hill
Kathy Yuan, London School of Economics
Presentation - PDF 1,097K(PDF Help)

How Does Bank Trading Activity Affect Performance? An Investigation Before and After the Crisis - PDF 393K (PDF Help)
Michael R. King, University of Western Ontario
Nadia Massoud, York University
Keke Song, Dalhousie University

5:30 - 6:30 - Reception -
Saturday, October 26, 2013
8:00 - 8:30 - Continental Breakfast –
8:30 - 10:00

The Effects of Corporate Taxes on Banking
Session Chair and Discussant: George Pennacchi, University of Illinois
Presentation - PDF 95K(PDF Help)

How Do Financial Institutions React to Tax Increases? - PDF 393K (PDF Help)
Alexander Schandlbauer, Vienna Graduate School of Finance

Taxes and Bank Capital Structure - PDF 393K (PDF Help)
Glenn Schepens, Ghent University and National Bank of Belgium
Presentation - PDF 95K(PDF Help)

Does Corporate Income Taxation Affect Securitization? Evidence from OECD Banks 339K (PDF Help)
Di Gong, Tilburg University
Jenny E. Ligthart, Tilburg University

10:00 - 10:30 - Break -
10:30 - 11:30

Inside Debt and Bank Risk Taking
Session Chair and Discussant: Bob DeYoung, University of Kansas
Presentation - PDF 103K(PDF Help)

Inside Debt, Bank Default Risk, and Performance during the Crisis
Rosalind L. Bennett, FDIC
Levent Güntay, FDIC
Haluk Unal, Smith School of Business, University of Maryland and FDIC
Presentation - PDF 103K(PDF Help)

Better Safe than Sorry? CEO Inside Debt and Risk-taking in Bank Acquisitions
Abhishek Srivastav, University of Edinburgh Business School
Seth Armitage, University of Edinburgh Business School
Jens Hagendorff, University of Edinburgh Business School
Presentation - PDF 378K(PDF Help)

11:30 - 12:30

Real Effects of the Financial Crisis
Session Chair and Discussant: Philip Strahan, Boston College Presentation - PDF 214K(PDF Help)

Do Asset Price Bubbles have Negative Real Effects?
Indraneel Chakraborty, Southern Methodist University
Itay Goldstein, Wharton School, University of Pennsylvania
Andrew MacKinlay, Southern Methodist University
Presentation - PDF 5189K(PDF Help)

The Real Effects of Credit Line Drawdowns
Jose M. Berrospide, Federal Reserve Board
Ralf R. Meisenzahl, Federal Reserve Board
Presentation - PDF 578K(PDF Help)

12:30 - 1:30 - Lunch -
1:30 - 3:00

Regulation and Bank Cost of Capital
Session Chair and Discussant: Robert Hauswald, American University
Presentation - PDF 182K(PDF Help)

The End of Market Discipline? Investor Expectations of Implicit State Guarantees
Viral V. Acharya, New York University
Deniz Anginer, Virginia Tech
A. Joseph Warburton, Syracuse University
Presentation - PDF 932K(PDF Help)

The Shadow Cost of Bank Capital Requirements
Roni Kisin, Washington University in St. Louis
Asaf Manela, Washington University in St. Louis
Presentation - PDF 932K(PDF Help)

Deposit Rate Advantages at the Largest Banks
Stefan Jacewitz, FDIC
Jonathan Pogach, FDIC

3:00 - 3:30 - Break -
3:30 - 4:30

Liquidity-Risk Management
Session Chair and Discussant: David Musto, Wharton School, University of Pennsylvania

A Network View on Money Market Freezes
Puriya Abbassi, Deutsche Bundesbank
Silvia Gabrieli, Bankque de France
Co-Pierre Georg, Deutsche Bundesbank and Oxford University
Presentation - PDF 536K(PDF Help)

Designed for Failure? Risk-Return Tradeoffs and Risk Management of Structured Investment Vehicles
Sanjiv R. Das, Santa Clara University
Seoyoung Kim, Santa Clara University
Presentation - PDF 1042K(PDF Help)

4:30 - 5:30

Funding Liquidity
Session Chair and Discussant: Albert "Pete" Kyle, Smith School of Business, University of Maryland
Presentation - PDF 289K (PDF Help)

Limited Market Access and Funding Liquidity
Zhuo Chen, Kellog School of Management, Northwestern University
Andrea Lu, Kellog School of Management, Northwestern University
Presentation - PDF 289K (PDF Help)

Systemic Funding Liquidy Risk and Bank Failures
Han Hong, Stanford University
Deming Wu, Office of the Comptroller of the Currency
Presentation - PDF 289K (PDF Help)