THE FIFTH NEW YORK FED/NYU STERN
               CONFERENCE ON FINANCIAL INTERMEDIATION


                          November 13, 2009
            Stern School of Business, New York University


     A Conference Jointly Sponsored by the Federal Reserve Bank
           of New York and the Salomon Center at NYU Stern


           Organized by Hamid Mehran and Stavros Peristiani
               (New York Fed) and Alexander Ljungqvist
                      and Philipp Schnabl (NYU)



     PROGRAM:


     8:00:       Registration and continental breakfast


     9:00­12:00: Morning Session:
     Chair: Alexander Ljungqvist, New York University


     9:00:       Tobias Adrian, Federal Reserve Bank of New York
     Markus Brunnermeier, Princeton University CoVaR
     Discussant: Viral Acharya, New York University


     9:50:       Mariassunta Giannetti, Stockholm School of
     Economics, Andrei Simonov, Michigan State University
     On the Real Effects of Bank Bailouts: Micro-Evidence from
     Japan
     Discussant: Philipp Schnabl, New York University


     10:40:      Refreshment Break


     11:10:      John M. Griffin, University of Texas at Austin
     Dragon Yongjun Tang, University of Hong Kong
     Did Subjectivity Play a Role in CDO Credit Ratings?


     Discussant: Til Schuermann, Federal Reserve Bank of New
     York


     12:00:      Lunch and Keynote Address


     12:30-1:30: Keynote Address
     Chair: Matthew Richardson
     Speaker: Randall S. Kroszner, University of Chicago


     2:00­5:30: AFTERNOON SESSION
     Chair: Hamid Mehran, Federal Reserve Bank of New York


     2:00:       Adam Ashcraft, Paul Goldsmith-Pinkham and James
     Vickery, Federal Reserve Bank of New York
     MBS Ratings and the Mortgage Credit Boom
     Discussant: Efraim Benmelech, Harvard University


     2:50:       Rocco Huang, Federal Reserve Bank of
     Philadelphia and Wharton Financial Institutions Center
     How Committed Are Bank Lines of Credit? Evidence from the
     Subprime Mortgage Crisis
     Discussant: Paolo Fulghieri, University of North Carolina
     at Chapel Hill


     3:40:       Refreshment Break


     4:10:       Anna Kovner, Federal Reserve Bank of New York
     Do Investment Banks Matter? The Impact of the Near Loss of
     an Equity Underwriter
     Discussant: Daniel Paravisini, Columbia University


     5:00:       Drinks Reception



     REGISTRATION DETAILS:


     Attendance is free of charge but places are strictly
     limited and so registration is required. To register,
     please send an email to:


     Email:         MAILTO:salomon@stern.nyu.edu


     before November 1, 2009. We aim to confirm your
     registration by November 1, 2009.

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Posted 10/2/09