8th Annual SIPA/BPI Research Conference
The eighth annual Conference on Bank Regulation, co-hosted by Columbia University School of International and Public Affairs and the Bank Policy Institute, took place on February 29, 2024. Each year, the conference brings together academics, regulators, and practitioners to discuss the latest research on banking and bank regulation. This year’s overarching theme was bank regulation and the resilience of the banking sector, especially in light of the failures of several regional banks last spring. Topics discussed included vulnerabilities to runs, bail-in debt, the transmission of monetary policy through banks’ securities portfolios and the interaction with banking regulation, and the future structure of the banking industry. Find a more detailed summary of the conference here.
Papers
Paper Session 1: Vulnerabilities to Runs
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Monetary Tightening and U.S. Bank Fragility in 2023: Mark-to-Market Losses and Uninsured Depositor Runs? - Tomasz Piskorski, Columbia Business School
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A Framework for Evaluating Banks’ Resilience in a Rising Interest Rates Environment - Jeffrey Gerlach, Federal Reserve Bank of Richmond (Slides)
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Session Discussants
Cecilia Caglio, Federal Reserve Board (Slides)
Marc Saidenberg, Ernst & Young
Moderator: Bill Nelson, BPI
Paper Session 2: Bail-in
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Expected Bail-in Costs, Bank Risk-taking and Real Effects - Consuelo Silva-Buston, Pontificia Universidad Catolica de Chile (Slides)
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The Adverse Effect of Contingent Convertible Bonds on Bank Stability - Melina Ludolph, Halle Institute for Economic Research
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Session Discussants:
Wilson Ervin, US Treasury
Stijn Claessens, Yale University
Moderator: Francisco Covas, BPI
Keynote:
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Loretta J. Mester, President and Chief Executive Officer, Federal Reserve Bank of Cleveland
Keynote Speech: Building Financial System Resilience
Paper Session 3: Bank securities portfolios, regulation and monetary policy
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Macroprudential Regulation, Quantitative Easing and Bank Lending - Roberto Robatto, University of Wisconsin (Slides)
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Monetary Transmission through Bank Securities Portfolios - Daniel L. Greenwald, New York University (Slides)
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Session Discussants:
William Dudley, Princeton University
Stephen Ryan, New York University (Slides)
Moderator: Patricia C Mosser, Columbia SIPA
Panel Discussion: The Future Structure of the Banking Industry
Bill Demchak, PNC
Lev Menand, Columbia University
Patrick Parkinson, BPI
Randal Quarles, Cynosure Group
Moderator: Kathryn Judge, Columbia University