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Business Models in Banking: Is There a Best Practice?

Programme

Click the speaker's name to access his powerpoint presentation*.

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to view a brief video extract.

Welcome address

Guido Tabellini
Università Bocconi

In the following brief video extract Guido Tabellini, rector of Bocconi University, introduces the main participants and topics of the conference.

Video extract

Gregorio De Felice
Intesa Sanpaolo

In the following brief video extract Gregorio De Felice, Head of Research and Chief Economist at Intesa Sanpaolo, talks about the influence of the global financial crisis on Italian banks.

Video extract

Andrea Resti
Carefin, Università Bocconi

In the following video extract Andrea Resti, Director of CAREFIN, briefly talks about the agenda of this conference and how it was developed.

Video extract

Introduction

Gertrude Tumpel-Gugerell (speech - presentation)
European Central Bank

In the following video extract Gertrude Tumpel-Gugerell, Member of the Executive Board of the European Central Bank, briefly talks about the main lessons learned from the financial crisis.

Video extract

Plenary Session

The impact of Monetary Policy on Bank Lending and Risk-Taking
Chair: Philipp Hartmann, European Central Bank

In the following video extract Philipp Hartmann, Head of the Financial Research Division of European Central Bank, talks about the importance of the relationship between research and policy.

Video extract

Monetary Policy, Risk-Talking and Pricing: Evidence From a Quasi-Natural Experiment
Vasso Ioannidou, Steven Ongena, José Luis Peydró Alcalde (paper - presentation)
Discussant: Paul H. Kupiec, FDIC

In the following video extract Steven Ongena, professor in empirical finance at Tilburg University, briefly talks about the factors that contributed to the financial crisis, and in particular about low interest rates.

Video extract

Core Deposit Funding of Subprime Mortgages and the Effect of Monetary Policy
Lamont Black, Diana Hancock, Wayne Passmore (paper - presentation)
Discussant: Steven Ongena, CentER- Tilburg University

Lamont Black, economist at the Board of Governors of the Federal Reserve System, talks about some of the main results of his research paper on subprime lending.

Video extract

Bank Risk-Taking, Securitization, Supervision, and Low Interest Rates: Evidence form Lending Standards
Angela Maddaloni, José Luis Peydró Alcalde (paper - presentation)
Discussant: Stefano Gatti, Università Bocconi

In the following video extract José Luis Peydró Alcalde, Economist in the Research Department of the European Central Bank, briefly explains why banks soften lending standards in periods of loose monetary policy.

Video extract

Round Table - Business Models in Banking: Is There a Best Practice?
Moderator: Jo Winterbottom, Thomson-Reuters

Panel
Art Certosimo, Bank of New York Mellon
Massimo Della Ragione, Goldman Sachs
Luigi de Vecchi, Credit Suisse
Jean-François Mazaud, Société Générale

Session 1A

Relationship Lending and Private Information
Chair: Andrea Resti, Università Bocconi

The Impact of the U.S. Financial Crisis on Global Retail Lending
Manju Puri, Jörg Rocholl, Sascha Steffen (paper - presentation)
Discussant: Mark Flannery, University of Florida

Tests of Ex Ante Versus ExPost Theories of Collateral Using Private and Public Information
Allen N. Berger, W. Scott Frame, Vasso Ioannidou (paper - presentation)
Discussant: Francesco Columba, Banca d'Italia

Mutual Guarantee Institutions and Small Business Finance
Francesco Columba, Leonardo Gambacorta, Paolo Emilio Mistrulli
(paper - presentation)
Discussant: Vasso Ioannidou, CentER - Tilburg University

Session 1B

Credit Risk
Chair: Steven Ongena, CentER - Tilburg University

How Well Does the Basel AIRB Model Fit the Data? Evidence from a Long Time Series of Corporate Credit Ratings Data
Paul H. Kupiec, FDIC (paper - presentation)
Discussant: Francesco Corielli, Università Bocconi

MBS Ratings and the Mortgage Credit Boom
Adam Ashcraft, James Vickery, Paul Goldsmith-Pinkham (paper - presentation)
Discussant: Simon Kwan, San Francisco FED

Liquidity Hoarding and Interbank Market Spreads: The Role of Counterparty Risk
Florian Heider, Marie Hoerova, Cornelia Holthausen (paper - presentation)
Discussant: Paolo Fulghieri, University of North Carolina

Session 2A

Market Discipline in the Banking Industry
Chair: Mark Flannery, University of Florida

Ownership Structure and Firm Performance: Evidence from the Banking Industry
Simon Kwan (paper - presentation)
Discussant: Lamont Black, Federal Reserve Board

Who Disciplines Bank Managers
Martin Cihak, Andrea Maechler, Klaus Schaeck, Stéphanie Stolz
(paper - presentation)
Discussant: James Vickery, New York FED

Bank business models, managerial discretion and risk efficiency
Lieven Baele, Valerie De Bruyckere, Olivier De Jonghe, Rudi Vander Vennet
(paper - presentation)
Discussant: Giuliano Iannotta, Università Bocconi

Session 2B

Bank Ownership
Chair: Paolo Fulghieri, University of North Carolina

Foreign Bank Entry and Credit Allocation in Emerging Markets
Hans Degryse, Olena Havrylchyk, Emilia Jurzyk, Sylwester Kozak
(paper - presentation)
Discussant: José Luis Peydró Alcalde, European Central Bank

Bank Loan Announcements and Borrower Stock Returns: Does Bank Origin Matter?
Steven Ongena, Viorel Roscovan (paper - presentation)
Discussant: Marie Hoerova, European Central Bank

ORGANIZING COMMITTEE

Gregorio De Felice, Intesa Sanpaolo
Giuliano Iannotta, Head of Banking Division - CAREFIN
Andrea Resti, Director - CAREFIN

SCIENTIFIC ADVISORY BOARD

Claudio Borio, Bank for International Settlements
Mark Flannery, University of Florida
Paolo Fulghieri, Univerisity of North Carolina and ECGI
Philipp Hartmann, ECB
Steven Ongena, CentER, Tilburg University and CEPR

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