13th INTERNATIONAL CONFERENCE
C R E D I T 2014
The New Financial Regulatory System:
Challenges
and Consequences for the
Financial Sector
Venice, Italy
25 - 26 September 2014
The objective of the Conference is to bring together academics,
practitioners and PhD students working in the area of risk
management.
The conference this year focuses on The New Financial Regulatory
System: Challenges and Consequences for the Financial Sector
and will
provide an opportunity for participants engaged in research at the
forefront of this area to discuss both the causes and implications
of
recent events in financial markets and may, in turn, suggest
fruitful
directions for future research. The Conference is the thirteenth
of a series dedicated to various aspects of credit risk.
The co-sponsors of the Conference are GRETA Associati
(Venice, Italy), Research Center SAFE at Goethe University
Frankfurt (Frankfurt, Germany), Intesa Sanpaolo (Milan,
Italy) and
SYRTO - SYstemic Risk TOmography - a project funded by the
European Union under the 7th Framework Programme (FP7-SSH/2007-2013)
Grant Agreement n° 320270. The Conference is organised under the
auspices of the Department of Economics of the
University Ca’
Foscari of Venice, ABI - Italian Banking Association and
European Investment Bank Institute.
The Scientific Committee for the Conference consists of: Jan
Krahnen, Goethe University & SAFE, Programme
Chair,
Monica Billio, Ca’ Foscari University of Venice, Steven
Ongena, University of Zurich, Stephen Schaefer, London
Business School and Kenneth Singleton, Stanford
University.
PROGRAMME
Thursday, September 25 2014
9.00 -
9.15 Opening
Remarks
9.15 - 11.00 Session I: Bank
risk taking, capital structure and credit risk
Key-note talk: Countering Systemic Risk through Banking
Regulation and Other Means, Franklin Allen (Wharton
University
of Pennsylvania, Philadelphia & Imperial College London)
Did CDS Make Banks Riskier? The Effects of Credit Default Swaps
on
Bank Capital and Lending, Susan Chenyu Shan (Shanghai Jiao
Tong
University), Dragon Yongjun Tang (The University of Hong Kong) and
Hong
Yan (University of South Carolina, Columbia & Shanghai Jiao Tong
University) - Discussant: Stephen Schaefer (London
Business
School)
Incentive Pay and Bank Risk-Taking: Evidence from Austrian,
German,
and Swiss Banks, Matthias Efing (University of Geneva &
Swiss
Finance Institute), Harald Hau (University of Geneva & Swiss
Finance
Institute), Patrick Kampkötter (University of Cologne) and Johannes
Steinbrecher (Ifo Institute Branch Dresden) - Discussant:
Marcella
Lucchetta (Ca’ Foscari University of Venice)
11.30 -
13.00 Session II: New development in
the banking markets
Do LTV and DSTI Caps Make Banks More Resilient?, Michel
Dietsch
(University of Strasbourg & Prudential Supervision and
Resolution Authority - Banque de France) and Cécile Welter-Nicol
(Prudential Supervision and Resolution Authority - Banque de France)
-
Discussant: Paul Schempp (University of Bonn &
Max
Planck Institute for Research on Collective Goods)
Credit Growth and Bank Capital Requirements: Binding or Not?,
Claire Labonne (Prudential Supervision and Resolution Authority
-
Banque de France) and Gildas Lamé (INSEE-CREST, Paris) -
Discussant: Andrea Giacomelli (Ca’ Foscari University
of
Venice & GRETA, Venice)
Conditional Accounting Conservatism and Bank Risk Taking, Manuel
Illueca
(University Jaume I, Castellón de la Plana), Lars Norden (Erasmus
University Rotterdam) and Gregory F. Udell (Indiana University,
Bloomington) - Discussant: Umberto Cherubini (University
of
Bologna)
14.30 -
16.00 Session III: Capital
regulation
A Dynamic Model of Banking with Uninsurable Risks and
Regulatory Constraints, Jochen Mankart (Deutche Bundesbank),
Alexander Michaelides (Imperial College Business School, London,
CEPR,
London & NETSPAR, Tilburg) and Spyros Pagratis (Athens
University of
Economics and Business) - Discussant: Arjen Siegmann (Vrije
Universiteit,
Amsterdam)
Higher Bank Capital Requirements and Mortgage Pricing: Evidence
from
the Counter-Cyclical Capital Buffer, Christoph Basten (ETH
Zurich
& Swiss Financial Market Supervisory Authority FINMA) and
Catherine
Koch (University of Zurich) - Discussant: Jongsub Lee
(University of Florida, Gainesville)
The Limits of Model-Based Regulation, Markus Behn (Bonn
University
& Deutsche Bundesbank), Rainer Haselmann (Bonn University) and
Vikrant Vig (London Business School) - Discussant: Steven
Ongena (University of Zurich)
17.00 -
18.30 Session IV: Systemic risk
Fire-Sale Spillovers and Systemic Risk, Fernando
Duarte
(Federal Reserve Bank of New York) and Thomas M. Eisenbach (Federal
Reserve Bank of New York) - Discussant: Harald Scheule
(University of Technology, Sydney)
The Removal of Credit Ratings from Capital Regulation:
Implications
for Systemic Risk, Kathleen Weiss Hanley (University of
Maryland,
College Park) and Stanislava Nikolova (University of Nebraska,
Lincoln) -
Discussant: Giovanni Zambruno (Milano Bicocca
University)
Systemic and Systematic Risk, Monica Billio (Ca’ Foscari
University of Venice), Massimilano Caporin (University of Padua),
Roberto
Panzica (Goethe University Frankfurt) and Loriana Pelizzon (Ca’
Foscari
University of Venice & Goethe University Frankfurt) -
Discussant: Simonetta Iannotti (Bank of International
Settlements, Basel)
Friday, September 26 2014
9.00 -
10.45 Session V: Financial
markets regulation
Key-note talk: Equilibrium Fast Trading, Thierry
Foucault (HEC Paris)
Central Clearing and Collateral Demand, Darrell Duffie
(Stanford
University & National Bureau of Economic Research), Martin
Scheicher
(European Systemic Risk Board) and Guillaume Vuillemey (Sciences-Po
Paris
& Banque de France) - Discussant: Mario Bellia (Ca’
Foscari
University of Venice & Goethe University Frankfurt)
Sand in the Chips? Evidence on Taxing Transactions in Modern
Markets,
Jean-Edouard Colliard (European Central Bank) and Peter Hoffmann
(European Central Bank) - Discussant: Rémy Praz (EPFL,
Lausanne)
11.15 -
12.45 Session VI: Liquidity and
credit
Did Liquidity Providers Become Liquidity Seekers? Evidence the
CDS-Bond Basis During the 2008 Financial Crisis, Jaewon Choi
(University of Illinois at Urbana-Champaign) and Or Shachar (Federal
Reserve Bank of New York) - Discussant: Alessandro
Fontana (European Commission Joint Research Centre)
Credit and Liquidity in Interbank Rates: a Quadratic Approach,
Simon Dubecq (European Central Bank & CREST), Alain Monfort
(CREST, Banque de France & Maastricht University), Jean-Paul
Renne
(Banque de France) and Guillaume Roussellet (Banque de France, CREST
& CEREMADE, Paris) - Discussant: Jens Dick-Nielsen
(Copenhagen Business School)
Liquidity Risk and Distressed Equity, Mamdouh Medhat
(Copenhagen
Business School) - Discussant: Jean-Cyprien Héam
(Prudential Supervision and Resolution Authority - Banque de
France
& CREST)
14.15 -
16.00 Session VII: Banking Union
Supervisory Incentives in a Banking Union, Elena
Carletti
(Bocconi University, CEPR, London & IGIER, Milan), Giovanni
Dell'Ariccia (International Monetary Fund & CEPR, London) and
Robert
Marquez (University of California, Davis) - Discussant:
Elisa
Luciano (University of Turin & Collegio Carlo Alberto,
Turin)
The Political Economy of Bank Bailouts, Markus Behn (Bonn
University & Deutsche Bundesbank), Rainer Haselmann (Bonn
University), Thomas Kick (Deutsche Bundesbank) and Vikrant Vig
(London
Business School) - Discussant: Nadia Linciano (CONSOB)
Key-note talk: Ethics in Finance: a Banking Supervisor's
Perspective,
Ignazio Angeloni (European Central Bank)
17.00 -
18.30 PANEL Session
REGISTRATION
To register for the Conference you are requested to complete the
registration form that is available on our website
(
http://www.greta.it/credit/credit2014/credit2014.htm).
Registration fees are:
Academics:
300 Euro +
VAT
Practitioners:
1000 Euro +
VAT
PhD
Students*:
130 Euro + VAT
VAT is currently 22%
*Students will have to provide valid proof of their student
status.
The registration fees cover:
- Admission to all scientific sessions
- Lunches and coffee service during the Conference
- Conference kit
The registration fees do not fully cover the conference dinner on
September 25, 2014, for which there is an extra charge of 80.00 Euro
for
each participant (conference attendees as well as accompanying
persons).
For more detailed information (registration, accommodation and
Conference
venue), please refer to the Conference website:
GRETA Associati
San Polo, 2605 - 30125 Venice, ITALY
Phone : +39 041 5238178 - Fax : +39 041 5286166
e-mail: credit@greta.it
website:
www.greta.it