Conference Program Announcement
Bank Funding, Markets, Instruments and Implications for Corporate Lending and the Real Economy

(European Central Bank, Federal Reserve Bank of New York and Review of Finance)

To be held at the European Central Bank in Frankfurt, Germany October 8-9, 2012

Monday, 8 October 2012 - Location: Conference Room CIV, 2nd floor, Eurotower

10:30-11:00 Registration and coffee

SESSION I

11:05-11:15 Opening of the Conference

11:15-12:00 Tobias Adrian and Nina Boyarchenko (Federal Reserve Bank of New York), 'Intermediary Leverage Cycles and Financial Stability'
Discussant:10 minutes
Open comments: 5 minutes

12:00-13:00 Lunch

SESSION II - Chair: Diego Rodriguez (ECB)

13:00-13:45 Keynote Arnoud Boot (University of Amsterdam), 'Bank Funding, Marketability, Complexity, and Monetary Policy' (title TBC)
Open comments: 10 minutes

13:50-14:35 Massilimiano Affinito (Bank of Italy), 'Central Bank Refinancing, Interbank Markets and the Hypothesis of Liquidity Hoarding: Evidence from a Euro-area Banking System'
Discussant:15 minutes
Open comments: 5 minutes

14:40-15:25 Warren Hrung and Asani Sarkar (Federal Reserve Bank of New York), 'The US Dollar Funding Premium of Global Banks'
Discussant:10 minutes
Open comments: 5 minutes

15:25-16:00 Coffee

SESSION III - Chair: Benjamin Sahel (ECB)

16:00-16:45 Charles-Henri Weymuller (Harvard University), 'Haircuts and Relationships'
Discussant:10 minutes
Open comments: 5 minutes

16:50-17:35 Charles Calomiris, Florian Heider and Marie Hoerova (Columbia University and European Central Bank), 'A Theory of Bank Liquidity Requirements'
. Discussant:10 minutes
Open comments: 5 minutes

19:30-22:00 Dinner at 'Intercontinental'

19:30-19:45 KEYNOTE: 'Topic TBD'
Coeure, Benoit (European Central Bank, Executive Board member)

Tuesday, 9 October 2012 - Location: Conference Room CIV, 2nd floor, Eurotower

8:00-9:00 Coffee

SESSION IV - Chair: TBC

8:30-9:00 John Griffin, Richard Lowery and Alessio Saretto (University of Texas) 'Complex Securities and Reputation: Do Reputable Underwriters Produce Better Securities?'

9:00-9:30 Gonzalo Camba, Santiago Carbo and Diego Rodriguez (European Central Bank and Bangor University) 'Access to Funding by European Banks and the Financial Crisis'

9:30-10:00 Kostas Tsatsaronis and Jing Yang (Bank for International Settlements) 'Bank Cost of Equity, Leverage and the Business Cycle'

10:00-10:50 Joint discussion and open comments

10:50-11:15 Coffee break

POLICY SESSION - Chair: Ulrich Bindseil

11:15-12:45 Andrew Sheets (Morgan Stanley)
Member/representative (Federal Reserve Bank of New York, TBC)
Philippe Bodereau (Pimpco)
Martin Hellwig (Professor of Economics, University of Bonn)

40 minutes presentation (10 by participants), 20 minutes comments, 30 minutes open floor

12:45-12:50 Closure of the conference Steven Ongena and David Marques-Ibanez

12:50-14:00 Lunch

PROGRAM COMMITTEE:
Tobias Adrian (Federal Reserve Bank of New York)
Franklin Allen (University of Pennsylvania)
Nicola Cetorelli (Federal Reserve Bank of New York)
Cornelia Holthausen (European Central Bank and CEPR)
Peter Karadi (European Central Bank)
Steven Ongena (Tilburg University and CEPR)
David Marques-Ibanez (European Central Bank)
Diego Rodriguez-Palenzuela (European Central Bank)
Benjamin Sahel (European Central Bank)
Tanju Yorulmazer (Federal Reserve Bank of New York)

FURTHER INFORMATION: For further information please contact: Bank.Funding.Conference.2012@ecb.europa.eu