9th Annual SIPA/BPI Research Conference
The ninth annual Conference on Bank Regulation, co-hosted by Columbia University School of International and Public Affairs and the Bank Policy Institute, occurred on February 27, 2025. Each year, the conference brings together academics, regulators, and practitioners to discuss the latest banking and bank regulation research. This year’s conference focused on the design of liquidity regulation, including contingent liquidity provision, and on drivers of structural change in the banking industry, particularly the ongoing evolution of credit formation across banks and nonbanks. Topics discussed included regulation impact: banks and nonbanks, monitoring banks: investors and regulators, more lessons from 2023, and outlook for regulatory policy. Find a more detailed summary of the conference:
Papers
Paper Session 1: Banks and Nonbanks
The Secular Decline of Bank Balance Sheet Lending
Tomasz Piskorski, Columbia Business School
Banks' Balance Sheet Costs, Monetary Policy, and the ON/RRP Facility
Gabriele La Spada, Federal Reserve Bank of New York | Slides (PDF)
Session Discussants
Yiming Ma, Columbia Business School
Tiffany Eng, BNY Mellon
Moderator: Francisco Covas, BPI
Paper Session 2: Attention to Run Risk
Investor Attention to Bank Risk During the Spring 2023 Bank Run
Asani Sarkar, Federal Reserve Bank of New York | Slides (PDF)
How (In) Active Was Bank Supervision During the 2022 Monetary Tightening?
Joao Granja, University of Chicago Booth School of Business | Slides (PDF)
Session Discussants:
Anna Kovner, Federal Reserve Bank of Richmond | Slides (PDF)
John McDonald, Truist Securities
Moderator: Bill Nelson, BPI
Keynote Address:
Trading Places: My New View from Inside the Federal Reserve
Beth M. Hammack, President and CEO, Federal Reserve Bank of Cleveland
Moderator: Patricia Mosser, Columbia University
Paper Session 3: More Lessons from 2023
Underwater: Strategic Trading and Risk Management in Bank Securities Portfolios
James I. Vickery, Federal Reserve Bank of Philadelphia | Slides (PDF)
Bank Branch Density and Bank Runs
Jun Yang, University of Notre Dame | Slides (PDF)
Session Discussants:
Skander Van den Heuvel, Federal Reserve Board | Slides (PDF)
Tim Schmidt, KeyBank | Slides (PDF)
Moderator: Sigridur Benediktsdottir, Columbia University
Panel Discussion: Outlook for Regulatory Policy
Travis Hill, Federal Deposit Insurance Corporation
Albert Moffitt, JPMorgan Chase
Margaret Tahyar, Davis Polk
David Wessel, Brookings
Moderator: Patricia Mosser, Columbia University