Welcome Drinks

Castle

Dinner 19:00

Session 1: Bank Funding

Chair: Pascal Towbin (Swiss National Bank)

The Make of Alert Depositors: How Payment and Interest Drive Deposit Dynamics

Xu Lu (University of Washington), Yang Song (University of Washington) and Yao Zeng (University of Pennsylvania)

Discussant: Camelia Minoiu (Federal Reserve Bank of Atlanta)

Distortive Effects of Deposit Insurance: Administrative Evidence from Deposit and Loan Accounts

Dominic Cucic (Danmarks Nationalbank), Rajkamal Iyer (Imperial College London, CEPR), Sotirios Kokas (University of Essex), Jose Luis Peydro (Imperial College London, CEPR) and Stefano Pica (Bank of Italy)

Discussant: Diana Bonfim (Banco de Portugal, ECB, Católica Lisbon)

Break 10:45 –11:15

This presentation has been moved to the evening.

Lunch 12:15

Poster Session 1

• The Power of Reserve Tiering: Financial Institution Heterogeneity and Monetary Policy Pass-through, by Wentong Chen (Cornell University)

• Broken relationships: De-risking by correspondent banks and international trade, by Lea Borchert (ZEW), Ralph de Haas (EBRD, KU Leuven, CEPR), Karolin Kirschenmann (ZEW) and Alison Schultz (University of Mannheim, Tax Justice Network)

• Payout Restrictions and Bank Risk-Shifting, by Fulvia Fringuellotti (Federal Reserve Bank of New York) and Thomas Kroen (IMF)

• The Rise of Shadow Banks in Servicing Household Debt, by Naser Hamdi (Equifax, Inc.), Erica Xuewei Jiang (University of Southern California), Brittany Almquist Lewis (Washington University St. Louis), Manisha Padi (University of California, Berkeley), Avantika Pal (Washington University St. Louis)

• Deposit Loan Cross-Selling and Bank Liquidity Risk, by Viral Acharya (NYU Stern, NBER, CEPR), Christoph Basten (UZH), Ragnar Enger Juelsrud (Norges Bank, CEPR), Karolis Liaudinskas (Norges Bank)

• Bank Dividend Restrictions and Banks' Institutional Investors, by Christian Mücke (Leibniz Institute for Financial Research SAFE, Goethe University Frankfurt)

Session 2: Financial Innovation

Chair: Charles Kahn (University of Illinois Urbana-Champaign)

The Disciplining Effect of Bank Supervision: Evidence from SupTech

Hans Degryse (KU Leuven), Cédric Huylebroek (KU Leuven) and Bernardus van Doornik (BIS)

Discussant: Matthew Plosser (Federal Reserve Bank of New York)

The Economics of “Buy Now, Pay Later”: A Merchant’s Perspective

Jan Keil (Humboldt University at Berlin), Tobias Berg (Goethe University Frankfurt), Valentin Burg (Humboldt University at Berlin) and Manju Puri (Duke University, NBER)

Discussant: Huan Tang (University of Pennsylvania)

From Session 1 on Bank Funding:

Corporate Runs and Credit Reallocation 

Elena Carletti (Bocconi University, Baffi Carefin, IGIER, CEPR), Filippo De Marco (Bocconi University, CEPR), Vasso Ioannidou (City University of London, CEPR), Enrico Sette (Bank of Italy, CEPR)

Discussant: Artashes Karapetyan (ESSEC Business School)

Dinner 19:15

Session 3: Nonbank Financial Intermediation (BIS Session)

Chair: Sebastian Doerr (Bank for International Settlements)

Intermediary Frictions and the Corporate Credit Cycle: Evidence From CLOs

Quirin Fleckenstein (HEC Paris)

Discussant: Daniel Streitz (IWH Halle)

Pension Liquidity Risk

Kristy Jansen (Marshall School of Business, University of Southern California), Sven Klingler (BI Norwegian Business School), Angelo Ranaldo (University of St. Gallen, SFI) and Patty Duijm (De Nederlandsche Bank)

Discussant: Wolf Wagner (Rotterdam School of Management, CEPR)

Break 10:30 –11:00

Keynote Speech 

Philipp Schnabl (New York University, CEPR & NBER)

Lunch 12:15

Poster Session 2

• Insurers Monitor Shocks to Collateral: Micro Evidence from Mortgage-backed Securities, by Thiemo Fetzer (University of Warwick), Benjamin Guin (Bank of England), Felipe Netto (Bank of England) and Farzad Saidi (University of Bonn)

• Interest Rate Shocks, Household Portfolios, and Bank Deposits, by Martin Brown (Study Center Gerzensee, University of St. Gallen), Daniel Hoechle (University of Applied Sciences and Arts Northwestern Switzerland),  Lizet Alejandra Perez Cortes (University of St. Gallen), Markus Schmid (University of St. Gallen, SFI, ECGI)

• Financial Constraints and Emission Intensity, by Eleonora Sfrappini (IWH Halle)

• Geopolitical Risk and Global Banking, by Friederike Niepmann (Federal Reserve Board) and Leslie Shen (Federal Reserve Bank of Boston)

• Distributional Income Effects of Banking Regulation in Europe, by Lars Brausewetter (IWH Halle), Melina Ludolph (OvGU Magdeburg, IWH Halle) and Lena Tonzer (OvGU Magdeburg, IWH Halle) 

• Intermediary Balance Sheet Constraints, Bond Mutual Funds' Strategies, and Bond Returns, by Mariassunta Giannetti (Stockholm School of Economics, CEPR, ECGI), Chotibhak Jotikasthira (Southern Methodist University), Andreas C. Rapp (Federal Reserve Board of Governors) and Martin Waibel (Stockholm School of Economics)

Session 4: Household Debt

Chair: Emilia Garcia Appendini (Norges Bank and University of Zurich)

Spatially Targeted LTV Policies and Collateral Values

Chun-Che Chi (Academia Sinica), Cameron LaPoint (Yale School of Management) and Ming-Jen Lin (National Taiwan University)

Discussant: Nicola Pavanini (Tilburg University)

Household Debt Relief and the Debt Laffer Curve

Gyozo Gyongyosi (Utrecht University) and Emil Verner (MIT Sloan)

Discussant: Brittany Lewis (Washington University St. Louis)

Dinner 19:00

Session 5: Bank Lending

Chair: Lena Tonzer (OvGU Magdeburg, IWH Halle) 

Specialized Lending when Big Data Hardens Soft Information

Zhiguo He (University of Chicago), Jing Huang (Texas A&M University) and Cecilia Parlatore (New York University)

Discussant: David Martinez-Miera (Universidad Carlos III de Madrid)

Banking on Deposit Relationships: Implications for Hold-Up Problems in the Loan Market

Jin Cao (Norges Bank, CESifo), Emilia Garcia-Appendini (Norges Bank, University of Zurich) and Cédric Huylebroek (Norges Bank, KU Leuven)

Discussant: Glenn Schepens (European Central Bank)

Break 10:45 –11:15

A New Theory of Credit Lines (With Evidence)

Jason R. Donaldson (University of Southern California),  Naz Koont (Columbia University), Giorgia Piacentino (University of Southern California) and Victoria Vanasco (CREI)

Discussant: Florian Heider (Leibniz Institute for Financial Research SAFE, Goethe University Frankfurt)

Lunch 12:15