Workshop on Bank Capital
A workshop jointly sponsored by the
Federal Reserve Bank of New York
and
NYU Stern School of Business
Organizers:
Matthew Richardson, NYU Stern
Hamid Mehran, FRBNY
Viral Acharya, NYU Stern
Date:
Friday, November 1, 2013
Location:
NYU Stern School of Business
Kaufman Management Center
44 West 4th Street
New York, NY 10012
Attendance by invitation only.
For more information, contact Salomon Center (salomon@stern.nyu.edu)
| 8:00 | Registration and Continental Breakfast |
| 8:25 | Welcome Remarks |
| Session I: New Theoretical and Empirical Perspectives | |
| 8:30 | "Banks as Secret Keepers" Tri Vi Dang, Columbia University Gary Gorton, Yale University Bengt Holmstrom, MIT Guillermo Ordonez, University of Pennsylvania |
| 9:10 | "Deposits and Bank Capital Structure" Franklin Allen, University of Pennsylvania Elena Carletti, Bocconi University |
| 9:50 | Refreshment Break |
| 10:15 | "High Bank Leverage, Risk Management, and Liquid-Claim Production" Harry DeAngelo, University of Southern California Rene Stulz, Ohio State University |
| 10:55 | "Do Strict Capital Requirements Raise the Cost of Capital? Banking Regulation and the Low Risk Anomaly" Malcolm Baker, Harvard University Jeffrey Wurgler, NYU Stern |
| Session II: Systemic Risk and Bank Capital | |
| 11:35 | "Caught between Scylla and Charybdis? Regulating bank leverage when there is rent-seeking and risk-shifting" Viral Acharya, NYU Stern Hamid Mehran, FRBNY Anjan Thakor, Washington University at St. Louis |
| 12:15 | Lunch Keynote speaker: Robert Engle, NYU Stern "Bank Capital and Systemic Risk Measurement" |
| Session III: Understanding and Assessing Regulatory Stress Tests | |
| 2:00 | "Overview of the CCAR and Supervisory Stress Testing" Beverly Hirtle, FRBNY |
| 2:40 | "Testing Macroprudential Stress Tests: The risk of regulatory risk weights" Viral Acharya, NYU Stern Robert Engle, NYU Stern Diane Pierret, NYU Stern |
| 3:20 | Refreshment Break |
| Session IV: Practitioners' View on Bank Capital | |
| 3:45 | Moderator: Mark Flannery, University of Florida Panelists: Rodgin Cohen, Sullivan & Cromwell Wilson Ervin, Credit-suisse Brian Peters, AIG Bernard De Longevialle, Standard & Poor's Douglas Simons, Credit-suisse Til Schuermann, Oliver Wyman |
| 5:30 | Cocktail Reception |