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Federal Reserve Conference - Thursday, January 6, 2011

Federal Reserve Day Ahead Conference on Financial Markets & Institutions

7:30 a.m. Continental Breakfast

8:00 a.m. Welcome: Alan Barkema, Director of Research, Federal Reserve Bank of Kansas City

 

8:15 a.m. Bank Behavior Before and During the Financial Crisis

 

Chair: James Wilcox, University of California Berkeley

 

The Impact of the Originate-to-Distribute Model on Banks Before and During the Financial Crises
Richard J. Rosen, Federal Reserve Bank of Chicago

Presenter: Richard J. Rosen, Federal Reserve Bank of Chicago

Discussant: Amiyatosh Purnanandam, University of Michigan

"Cherry Picking" in Subprime Mortgage Securitizations: Which Subprime Mortgage Loans Were Sold by Depository Institutions Prior to the Crisis of 2007?
Paul Calem, Federal Reserve Board
Christopher Henderson, Federal Reserve Bank of Philadelphia
Jonathan Liles, Freddie Mac

Presenter: Paul Calem, Federal Reserve Board

Discussant: Kris Gerardi, Federal Reserve Bank of Atlanta

Interest Rate Risk and Bank Profitability
William English, Federal Reserve Board
Skander van den Heuvel, Federal Reserve Board
Egon Zakrajšek, Federal Reserve Board

Presenter: Skander Van den Heuvel, Federal Reserve Board

Discussant: James Vickery, Federal Reserve Bank of New York

9:45 a.m. Break

10:15 a.m. Credit Availability: The Effects of Borrower and Lender Distress

 

Chair: William Keeton, Federal Reserve Bank of Kansas City

Credit Supply to Bankrupt Consumers: Evidence from Credit Card Mailings
Song Han, Federal Reserve Board
Benjamin Keys, Federal Reserve Board
Geng Li, Federal Reserve Board

Presenter: Benjamin Keys, Federal Reserve Board

Discussant: Burcu Duygan-Bump, Federal Reserve Bank of Boston

Financial Literacy and Mortgage Equity Withdrawals
John V. Duca, Federal Reserve Bank of Dallas
Anil Kumar, Federal Reserve Bank of Dallas

Presenter: Anil Kumar, Federal Reserve Bank of Dallas

Discussant: Sumit Agarwal, Federal Reserve Bank of Chicago

Financial Crisis and Bank Lending
Simon H. Kwan, Federal Reserve Bank of San Francisco

Presenter: Simon H. Kwan, Federal Reserve Bank of San Francisco

Discussant: Kasper Roszbach, Sveriges Riksbank

Identifying the Macroeconomic Effects of Bank Lending Supply Shocks
William F. Bassett, Federal Reserve Board
John C. Driscoll, Federal Reserve Board
Mary Beth Chosak, Federal Reserve Board
Egon Zakrajšek, Federal Reserve Board

Presenter: John C. Driscoll, Federal Reserve Board

Discussant:  Joe Haubrich, Federal Reserve Bank of Cleveland

12:15 p.m. Lunch

1:30 p.m. Interbank and Short-term Money Markets

 

Chair: Egon Zakrajšek, Federal Reserve Board

How Well Did Libor Measure Bank Wholesale Funding Rates During the Crisis?
Dennis Kuo, Federal Reserve Bank of New York
David Skeie, Federal Reserve Bank of New York
James Vickery, Federal Reserve Bank of New York

Presenter: David Skeie, Federal Reserve Bank of New York

Discussant: Galina Hale, Federal Reserve Bank of San Francisco

Repo Runs
Antoine Martin, Federal Reserve Bank of New York
David Skeie, Federal Reserve Bank of New York
Ernst-Ludwig von Thadden, Universität Mannheim

Presenter: Antoine Martin, Federal Reserve Bank of New York

Discussant: Matthew Pritsker, Federal Reserve Board

Stigma in Financial Markets: Evidence from Liquidity Auctions and Discount Window Borrowing During the Crisis
Olivier Armantier, Federal Reserve Bank of New York
Eric Ghysels, University of North Carolina
Asani Sarkar, Federal Reserve Bank of New York
Jeffrey Shrader, Federal Reserve Bank of New York

Presenter: Olivier Armantier, Federal Reserve Bank of New York 

Discussant: Gustavo Suarez, Federal Reserve Board

Responses to the Financial Crisis, Treasury Debt, and the Impact on Short-term Money Markets
Warren B. Hrung, Federal Reserve Bank of New York
Jason S. Seligman, Ohio State University

Presenter: Warren B. Hrung, Federal Reserve Bank of New York

Discussant: Mark Jensen, Federal Reserve Bank of Atlanta

3:30 p.m. Break

4:00 p.m. Supervision and Regulation of Financial Institutions

 

Chair: Doug Evanoff, Federal Reserve Bank of Chicago

Bank Capital, Borrower Power, and Loan Rates
João A.C. Santos, Federal Reserve Bank of New York
Andrew Winton, University of Minnesota

Presenter: João A.C. Santos, Federal Reserve Bank of New York

Discussant: Greg Nini, Wharton School, University of Pennsylvania

Origination and Sale of Loans, and Bank Capital Regulation
Michal Kowalik, Federal Reserve Bank of Kansas City
Ernst-Ludwig von Thadden, Universität Mannheim

Presenter: Michal Kowalik, Federal Reserve Bank of Kansas City

Discussant: Ned Prescott, Federal Reserve Bank of Richmond

Capital Constraints and Systematic Risk
Dmytro Holod, State University of New York
Yuriy Kitsul, Federal Reserve Board

Presenter: Yuriy Kitsul, Federal Reserve Board

Discussant: Nada Mora, Federal Reserve Bank of Kansas City

Stock or Options: Risk Choices and Compensation Design
Mark Carey, Federal Reserve Board
Bo Sun, Federal Reserve Board

Presenter: Mark Carey, Federal Reserve Board

Discussant: David Mordecai, Compass-Lexecon & IAFE

6:00 p.m. Closing Remarks: Janet Yellen, Vice Chair, Federal Reserve Board

6:15 p.m. Reception

 
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