Optimal Bank Liquidity Regulation

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Friday, February 9, 2018
Columbia University, International Affairs Building

agenda

FRIDAY, February 9, 2018
9:00 am – 10:15 am	Panel #1: Optimal Design Moderator: David Emmel (Goldman Sachs) Marc Saidenberg (E&Y) Charles Calomiris (Columbia Business School and Columbia SIPA) Kathryn Judge (Columbia Law School)
10:30 am – 12:00 pm	Paper Session #1: Liquidity Regulation: Impact and Interactions Moderator: Christine Cumming (Columbia SIPA) Asani Sarkar (Federal Reserve Bank of New York), "Impact of the LCR on Banks' Liquidity and Maturity Transformation" Jamie Coen (London School of Economics) and Caterina Lepore (Bank of England), "Taking Regulation Seriously: Fire Sales Under Solvency and Liquidity Constraints" Discussants: Sergey Chernenko (Purdue University) Adam Ashcraft (Federal Reserve Bank of New York)
1:00 pm – 2:30 pm	Paper Session #2: Consequences: Liquidity Regulation, Banking, and Shadow Banking Moderator: Patricia Mosser (Columbia SIPA) Pedro Gete (IE Business School), “Liquidity Regulation in Mortgage Markets: The Regulatory Premium Channel and The Rise of Nonbanks" Yi Li (Federal Reserve Board), "Reciprocal Lending Relationships in Shadow Banking" Discussants: Larry Wall (Federal Reserve Bank of Atlanta) Seth Carpenter (UBS)
2:45 pm – 4:15 pm	Paper Session #3: Measuring Costs and Benefits Moderator: Giorgia Piacentino (Columbia Business School) Skander J. Van den Heuvel (Federal Reserve Board), “The Welfare Effects of Bank Liquidity and Capital Requirements” Sam Miller (Bank of England), “Bank Liability and the Cost of Debt” Discussants: Burcu Duygan-Bump (Federal Reserve Board) Francisco Covas (The Clearing House Association)
4:15 pm – 5:30 pm	Panel #2: Liquidity Regulation, Money Markets, and Monetary Policy Moderator: William Nelson (The Clearing House Association) Lou Crandall (Wrightson ICAP) Todd Keister (Rutgers University) Holdger Neuhaus (European Central Bank and Federal Reserve Bank of New York)