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Federal Deposit
Insurance Corporation

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

Center for Financial Research

10th Annual Bank Research Conference Agenda
Finance and Sustainable Growth

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

L. William Seidman Center
3501 Fairfax Drive - Hove Auditorium
Arlington, VA


 THURSDAY, OCTOBER 28th Calendar
8:30 am – 8:55 am REGISTRATION & CONTINENTAL BREAKFAST
8:55 am - 9:00 am OPENING REMARKS
9:00 am – 10:30 am REFLECTIONS OF THE FINANCIAL CRISIS
Session Chair and Discussant: Pete Kyle, University of Maryland

Déjà Vu All Over Again: The Causes of U.S. Commercial Bank Failures This Time Around - PDF (160 K) (PDF help)
  • Presentation - PDF (212 K) (PDF help)

  • Rebel A. Cole, DePaul University
    Lawrence J. White, New York University


    What Caused the Global Financial Crisis? -Evidence on the Drivers of Financial Imbalances 1999-2007 - PDF (588K) (PDF help)
    Ouarda Merrouche and Erlend Nier, International Monetary Fund
  • Presentation - PDF (96K) (PDF help)


  • Hedge Fund Stock Trading in the Financial Crisis of 2007-2008
    Itzhak Ben-David, The Ohio State University
    Francesco Franzoni, Swiss Finance Institute and University of Lugano
    Rabih Moussawi, University of Pennsylvania


    10:30 am – 11:00 am COFFEE BREAK

    11:00 am – 12:00 pm FINANCE AND THE REAL ECONOMY
    Session Chair and Discussant: Stijn Claessens, International Monetary Fund

    (Inter-state) Banking and (Inter-state) Trade: Does Real Integration Follow Financial Integration? - PDF (1,434K) (PDF help)
    Tomasz Michalski and Evren Ors, HEC Paris

    Big Banks versus Small Banks: Good or Bad for Industries?
    Indrit Hoxha, Pennsylvania State University Harrisburg

    12:00 pm – 1:00 pm LUNCH

    1:00 pm – 2:30 pm MEASURING SYSTEMIC RISK
    Session Chair and Discussant: Bob DeYoung, University of Kansas

    Measuring Systemic Risk Contributions - PDF (387 K) (PDF help)
    Xin Huang, University of Oklahoma
    Hao Zhou, Federal Reserve Board
    Haibin Zhu, Bank for International Settlements


    Measuring the Tail Risks of Banks - PDF (270 K) (PDF help)
  • Presentation - PDF (220 K) (PDF help)

  • Martin Knaup and Wolf Wagner, Tilburg University

    Credit Derivatives and the Default Risk of Large Complex Financial Institutions - PDF (268 K) (PDF help)
    Giovanni Calice, University of Bath, School of Management
    Christos Ioannidis, University of Bath, School of Management
    Julian Williams, University of Aberdeen, Business School


    2:30 pm – 3:00 pm COFFEE BREAK

    3:00 pm – 4:30 pm ECONOMICS OF RATINGS
    Session Chair and Discussant: Paul Kupiec, Federal Deposit Insurance Corporation

    Do Credit Rating Agencies Underestimate Liquidity Risk? Radhakrishnan Gopalan, Washington University in St. Louis
    Fenghua Song, Pennsylvania State University
    Vijay Yerramilli, University of Houston


    The Information Content of Asset-Backed Securities Downgrades, and the Motivation Behind Them
    Eric J. Higgins, Kansas State University
    Joseph R. Mason, Louisiana State University
    Adi Mordel, Bank of Canada


    5:00 pm – 6:00 pm RECEPTION
     FRIDAY, OCTOBER 29th Calendar
    9:00 am – 9:30 am CONTINENTAL BREAKFAST
    9:30 am – 10:30 am BANK LENDING AND CAPITAL
    Session Chair and Discussant: Steven Sharpe, Federal Reserve Board

    Walking Wounded or Living Dead? Making Banks Foreclose Bad Loans - PDF (363 K) (PDF help)
    Max Bruche and Gerard Llobet, CEMFI

    Bank Capital, Borrower Power, and Loan Rates - PDF (185 K) (PDF help)
    João A. C. Santos, Federal Reserve Bank of New York
    Andrew Winton, University of Minnesota


    10:30 am – 11:00 am COFFEE BREAK

    11:00 am – 12:00 pm CONSUMER LOAN DEFAULTS
    Session Chair and Discussant: David Musto, University of Pennsylvania

    The Sources of Value of Relationships: Screening, Monitoring and the Likelihood of Consumer Default
    Manju Puri, Duke University
    Jörg Rocholl, ESMT European School of Management and Technology
    Sascha Steffen, University of Mannheim


    Differences Across Originators in CMBS Loan Performance - PDF (377 K) (PDF help)
    Lamont Black, Chenghuan Sean Chu, Andrew Cohen and Joseph B. Nichols Federal Reserve Board

    12:00 pm – 1:00 pm LUNCH

    1:00 pm – 2:30 pm BANK CAPITAL ADEQUACY
    Session Chair and Discussant: John Boyd, University of Minnesota

    Countercyclical Contingent Capital (CCC): Possible Use and Ideal Design - PDF (573 K) (PDF help)
    Giuseppe De Martino, Massimo Libertucci, Mario Marangoni and Mario Quagliariello, Bank of Italy

    Capital Incentives and Adequacy for Securitizations - PDF (36 K) (PDF help)
    Daniel Rösch, University of Hannover
    Harald Scheule, University of Melbourne


    Large Capital Infusions, Investor Reactions, and the Return and Risk Performance of Financial Institutions - PDF (296 K) (PDF help)
    Elyas Elyasiani, Temple University
    Loretta J. Mester, Federal Reserve Bank of Philadelphia
    Michael S. Pagano, Villanova University
    Notes:
    Conference Organizers

    Paul Kupiec (FDIC) and Haluk Ünal (University of Maryland and JFSR)

    Program Committee:

    Shawn Cole (HBS), Robert DeYoung (U of Kansas), Mark Flannery (U of Florida), Todd Milbourne (Washington U), David Musto (Wharton), Mitchell Petersen (Northwestern U), Larry Wall (Fed Atlanta),