Optimal Bank Capital Regulation
February 23, 2017 | Columbia University, International Affairs Building
Agenda
Opening Remarks
- Merit Janow, Dean, School of International and Public Affairs, Columbia University
- Greg Baer, President, The Clearing House Association
Panel: Benefits and Costs of Capital Regulation
- Chair: Charles Taylor (George Washington)
- Douglas Elliott (Oliver Wyman)
- Giovanni Dell’Ariccia (IMF)
- Jas Ellis (Bank of England)
Paper Session: Unintended Consequences
- Chair: TBD
- Jill Cetina (Office of Financial Research) “Do Higher Capital Standards Always Reduce Bank Risk? The Impact of the Basel Leverage Ratio on the U.S. Triparty Repo Market”
- Nicola Garbarino (Bank of England) “Specialization in Mortgage Risk under Basel II”
Discussants:
- James Weatherly (Capital One)
- Richard Herring (Wharton)
Keynote:
-
Kevin Stiroh, Executive Vice President, Federal Reserve Bank of New York and conversation with Patricia Mosser (Director, MPA Program in Economic Policy Management)
Paper Session: Capital Requirements and Financial Stability
- Chair: Patricia Mosser, Director, MPA Program in Economic Policy Management
- Moritz Schularick (CEPR and Bonn), “Bank Capital Redux”
- Christoph Basten (FINMA),” Higher Bank Capital Requirements and Mortgage Pricing: Evidence from the Countercyclical Capital Buffer”
Discussants:
- Andreas Lehnert (Federal Reserve Board)
- Steven Strongin (Goldman Sachs)
Paper Session: Models of Optimal Bank Liability Structure
- Chair: William Nelson, The Clearing House Association
- Douglas Gale (NYU), “Bank Capital Structure, Fire Sales, and the Social Value of Deposits”
- Zhenyu Wang (Indiana), “Bank Liability Structure”
Discussants:
- Francisco Covas (The Clearing House Association)
- Patrick Bolton (Columbia)
Panel: Impact of Regulation on Bank's Internal Capital Allocation
- Chair: Charles Calomiris (Columbia)
- Michael Hsu (Federal Reserve Board)
- Chris Mazingo (McKinsey)
- Scott Albinson (JPMorgan Chase)
Papers - Conference Summary
Keynote Speech:
- Kevin Stiroh, Executive Vice President, Federal Reserve Bank of New York
Panel: Benefits and Costs of Capital Regulation
Paper Session: Unintended Consequences
- Do Higher Capital Standards Always Reduce Bank Risk? The Impact of the Basel Leverage Ratio on the U.S. Triparty Repo Market
Meraj Allahrakha, Jill Cetina and Benjamin Munyon (Office of Financial Research) - Specializing in Risky Mortgages: Unintended Consequences of Basel II
Matteo Benetton (LSE), Peter Eckley (BOE), Nicola Garbarino (BOE), Liam Kirwin (BOE), Georgia Latsi (4-most Europe)
Paper Session: Capital Requirements and Financial Stability
- Bank Capital Redux
Oscar Jorda (SF Fed), Bjorn Richter (Bonn), Moritz Schularick (Bonn), Alan Taylor (UC Davis) - Higher Bank Capital Requirements and Mortgage Pricing: Evidence from the Countercyclical Capital Buffer
Christoph Basten (FINMA) and Catherine Koch (BIS)
Paper Session: Models of Optimal Bank Liability Structure
- Bank Capital Structure, Fire Sales, and the Social Value of Deposits
Douglas Gale (NYU) and Tanju Yorulmazer (Amsterdam) - Bank Liability Structure
M. Suresh Sundaresan (Columbia) and Zhenyu Wang (Indiana)
Organizers and Sponsors
- Patricia C. Mosser, Director, Central Banking and Financial Policy@SIPA
- William Nelson, The Clearing House Association
