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Conference on Financial Intermediation

28 Jun. 2013
The 5th Banco de Portugal Conference on Financial Intermediation will be held in Praia D'El Rey, Óbidos, June 28-29, 2013. The Conference aims at bringing together academics and practitioners to discuss the most recent research on liquidity and systemic risk.

The Organizer Committee for the Conference is composed by António Antunes, Luísa Farinha and João Santos.

The Conference venue is the Hotel Praia D'El Rey Marriott located at the north of Lisbon, on the western coast of Portugal.
Thursday, June 27
19.30 - 21.30 Dinner

Friday, June 28
09.45 - 10.00 Opening address
Session 1 - Government Guarantees and Systemic Risk
10.00 - 10.50 Government Guarantees and Financial Stability

Franklin Allen (University of Pennsylvania)
Elena Carletti (European University Institute)
Itay Goldstein (University of Pennsylvania)
Agnese Leonello (University of Pennsylvania)

Discussant: Anjan Thakor (Washington University)
10.50 - 11.40 Optimal Capital Requirements over the Business and Financial Cycles

Frédéric Malherbe (London Business School) 

Discussant: Lucy White (Harvard Business School)
11.40 - 12.10 Coffee break
12.10 - 13.00 Systemic Risk and the Macroeconomy: An Empirical Evaluation 

Stefano Giglio (University of Chicago)
Bryan Kelly (University of Chicago)
Seth Pruitt (Federal Reserve Board)
Xiao Qiao (University of Chicago)

Discussant: Ravi Jagannathan (Northwestern University)
13.00 - 14.00 Lunch
Session 2 - Rationales for Bank Liquidity Standards
14.00 - 14.50 The Role of Liquidity Standards in Optimal Lending of Last Resort Policies

João Santos (Federal Reserve Bank of New York)
Javier Suarez (CEMFI)

Discussant: Douglas Gale (New York University)
14.50 - 15.40 A Theory of Bank Liquidity Requirements

Charles Calomiris (Columbia University)
Florian Heider (European Central Bank)
Marie Hoerova (European Central Bank)

Discussant: Martin Oehmke (Columbia University)
15.40 - 16.10 Coffee break
16.10 - 17.00 Liquidity Risk in Banking: Is There Herding?

Diana Bonfim
(Banco de Portugal)
Moshe Kim (University of Haifa)

Discussant: Jan Pieter Krahnen (Goethe University)
19.00 - 22.00 Dinner

Saturday, June 29
Session 3 - Unintended Consequences of Bank Capital Regulation
10.00 - 10.50 Cyclical Adjustment of Capital Requirements: A Simple Framework

Rafael Repullo (CEMFI)

Discussant: Mathias Dewatripont (National Bank of Belgium)
10.50 - 11.40 Capital Regulation and Credit Fluctuations

Hans Gersbach
(Swiss Federal Institute of Technology Zurich)
Jean-Charles Rochet (University of Toulouse I) 

Discussant: Arnoud Boot  (University of Amsterdam)
11.40 - 12.10 Coffee break
12.10 - 13.00 Bank Regulation, Credit Ratings, and Systematic Risk

Giuliano Iannotta (Università Cattolica)
George Pennacchi (University of Illinois)

Discussant: Andrew Winton  (University of Minnesota)
13.00 - 14.00 Lunch

Franklin Allen  (University of Pennsylvania) 

Paula Antão  (Banco de Portugal) 

António Antunes  (Banco de Portugal) 

Luciana Barbosa  (Banco de Portugal) 

Diana Bonfim  (Banco de Portugal) 

Arnoud Boot  (University of Amsterdam) 

Miguel Boucinha  (Banco de Portugal) 

Geraldo Cerqueiro  (Universidade Católica Portuguesa) 

Mathias Dewatripont  (National Bank of Belgium) 

Luísa Farinha  (Banco de Portugal) 

Douglas Gale  (New York University) 

Hans Gersbach  (Swiss Federal Institute of Technology Zurich) 

Florian Heider  (European Central Bank) 

Ravi Jagannathan  (Northwestern University) 

Bryan T. Kelly  (University of Chicago) 

Jan Pieter Krahnen  (Goethe University) 

Frédéric Malherbe  (London Business School) 

Laurent Maurin  (European Central Bank) 

Caterina Mendicino  (Banco de Portugal) 

Sara Noorali  (Banco de Portugal) 

Martin Oehmke  (Columbia University) 

George G. Pennacchi  (University of Illinois) 

Pedro Prego  (Banco de Portugal) 

Natalia Puzanova  (Deutsche Bundesbank) 

Rafael Repullo  (CEMFI) 

Nuno Ribeiro  (Banco de Portugal) 

Doris Ritzberger-Grünwald  (Oesterreichische Nationalbank) 

Abdelaziz Rouabah  (Banque Centrale du Luxembourg) 

João Santos  (Federal Reserve Bank of New York) 

Nuno Silva  (Banco de Portugal) 

Javier Suarez  (CEMFI) 

Federica Tepa  (De Nederlandsche Bank) 

Anjan Thakor  (Washington University) 

Lucy White  (Harvard Business School) 

Andrew Winton  (University of Minnesota)