Bank Funding: Markets, Instruments, and Implications for Corporate Lending and the Real Economy

October 8-9, 2012
A conference organized by the European Central Bank, the Federal Reserve Bank of New York, and the Review of Finance

Overview
One of the major structural developments in the financial system in recent years has been the strong and increasing interconnection between banks, financial markets, and the shadow banking system. These linkages can amplify financial institution distress and spread risk across institutions, impairing the financial system's ability to intermediate credit, with potentially adverse consequences to real economic activity. The purpose of this conference is to bring together researchers from the areas of financial stability, financial intermediation, financial econometrics, corporate finance, asset pricing, and macro-finance to gain insight into the relationship between bank funding, credit, and real activity.

The conference will include presentations by leading academics, financial market practitioners, and policymakers. It will target influential, rigorous, innovative, policy-relevant empirical papers as well as relevant theoretical contributions.

Topics will include, but are not limited to, the following:

  • financial market incentives and bank funding
  • international implications of the evolving models of funding
  • the impact of different types of bank funding on the supply of corporate lending (including SME lending) and investment
  • corporate bond issuance as a complement/substitute to bank lending over the cycle
  • bank deleveraging and its impact on credit
  • bank restructuring, bank funding, and the supply of credit
  • the nexus between government debt and bank funding
  • the costs of raising of bank equity during crisis and non-crisis periods
  • corporate loan securitizations (CLOs, and ABS of SMEs) and investment
  • central bank policies (including collateral eligibility), bank funding, and bank investment
  • bank funding and the transmission mechanism of monetary policy.
Agenda >>
Deadline
The deadline for submissions is Thursday, July 1, 2012.

Interested authors should send a PDF version of their provisional draft or detailed outline to Bank.Funding.Conference.2012@ecb.europa.eu, indicating whether they would wish to act as a discussant for a contributed paper. Authors submitting a paper should also specify their funding requirements.

Authors of accepted papers will be notified by September 30, 2012.

Limited travel funding is available for academic presenters. The ECB may cover travel costs for an economy air ticket, taxi, and public transportation as well as up to two nights' hotel accommodation for selected speakers and discussants from academia. Expenses of participants from other institutions, including National Central Banks, will not be reimbursed.

Authors may, but are not obliged, to submit their papers to the Review of Finance. The submission fee will be waived for all conference papers submitted to the Review within six months after the conference takes place.
Audience
The conference is open to academics, central bankers, and other researchers in the fields of economics. It is closed to the media.
Conference Location
European Central Bank
Kaiserstrasse 29
Frankfurt, Germany

The conference program starts on Monday, October 8, and will end on Tuesday October 9, at noon. A conference dinner will be held Monday evening.

Details about the sponsors: www.ecb.int, www.newyorkfed.org and www.revfin.org.

Local Organizing Committee
Cornelia Holthausen, European Central Bank and CEPR
David Marques-Ibanez, European Central Bank, conference coordination
Diego Rodriguez-Palenzuela, European Central Bank
Benjamin Sahel, European Central Bank

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
David Marques-Ibanez, European Central Bank
Steven Ongena, Tilburg University and CEPR
Diego Rodriguez-Palenzuela, European Central Bank
Benjamin Sahel, European Central Bank
Tanju Yorulmazer, Federal Reserve Bank of New York

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