Event Details
Date & Time
May 23, 2025
9:00am – 4:00pm EDT
May 23, 2025
9:00am – 4:00pm EDT
Location
Federal Reserve Bank of New York
33 Liberty Street
New York, NY 10045
Federal Reserve Bank of New York
33 Liberty Street
New York, NY 10045
Audience
This event is open to academics and other researchers in the fields of economics and finance.
This event is open to academics and other researchers in the fields of economics and finance.
Media
This conference is open to media and all remarks are on the record. The event will be recorded, with the recording to be made available afterward. Media who wish to attend must register by contacting Mariah Measey at mariah.measey@ny.frb.org.
This conference is open to media and all remarks are on the record. The event will be recorded, with the recording to be made available afterward. Media who wish to attend must register by contacting Mariah Measey at mariah.measey@ny.frb.org.
Contact
For questions on the Eighteenth Conference on Financial Intermediation, please contact ny.researchconference@ny.frb.org.
For questions on the Eighteenth Conference on Financial Intermediation, please contact ny.researchconference@ny.frb.org.
Conference Organizers
Simone Lenzu, New York University
Stephan Luck, Federal Reserve Bank of New York
Or Shachar, Federal Reserve Bank of New York
Philipp Schnabl, New York University
Olivier Wang, New York University
Simone Lenzu, New York University
Stephan Luck, Federal Reserve Bank of New York
Or Shachar, Federal Reserve Bank of New York
Philipp Schnabl, New York University
Olivier Wang, New York University
Program Committee
Matthew Baron, Cornell University
Matteo Benetton, University of California, Berkeley
Tobias Berg, Goethe University
Asaf Bernstein, University of Colorado at Boulder
Olivier Darmouni, Columbia University
Anthony DeFusco, University of Wisconsin-Madison
Jason Donaldson, University of Southern California
Isil Erel, The Ohio State University
Maryam Farboodi, Massachusetts Institute of Technology
Andreas Fuster, École Polytechnique Fédérale de Lausanne
Samuel Hanson, Harvard Business School
Victoria Ivashina, Harvard Business School
Elisabeth Kempf, Harvard Business School
Wenhao Li, University of Southern California
Lu Liu, The Wharton School
Yiming Ma, Columbia University
Frederic Malherbe, University College London
Lira Mota, Massachusetts Institute of Technology
Chris Palmer, Massachusetts Institute of Technology
José-Luis Peydró, Imperial College London
Adriano Rampini, Duke University
Ishita Sen, Harvard Business School
Phil Strahan, Boston College
Margarita Tsoutsoura, Washington University in St. Louis
Emil Verner, Massachusetts Institute of Technology
James Vickery, Federal Reserve Bank of Philadelphia
Kairong Xiao, Columbia University
Chenzi Xu, University of California, Berkeley
Matthew Baron, Cornell University
Matteo Benetton, University of California, Berkeley
Tobias Berg, Goethe University
Asaf Bernstein, University of Colorado at Boulder
Olivier Darmouni, Columbia University
Anthony DeFusco, University of Wisconsin-Madison
Jason Donaldson, University of Southern California
Isil Erel, The Ohio State University
Maryam Farboodi, Massachusetts Institute of Technology
Andreas Fuster, École Polytechnique Fédérale de Lausanne
Samuel Hanson, Harvard Business School
Victoria Ivashina, Harvard Business School
Elisabeth Kempf, Harvard Business School
Wenhao Li, University of Southern California
Lu Liu, The Wharton School
Yiming Ma, Columbia University
Frederic Malherbe, University College London
Lira Mota, Massachusetts Institute of Technology
Chris Palmer, Massachusetts Institute of Technology
José-Luis Peydró, Imperial College London
Adriano Rampini, Duke University
Ishita Sen, Harvard Business School
Phil Strahan, Boston College
Margarita Tsoutsoura, Washington University in St. Louis
Emil Verner, Massachusetts Institute of Technology
James Vickery, Federal Reserve Bank of Philadelphia
Kairong Xiao, Columbia University
Chenzi Xu, University of California, Berkeley
Agenda
Agenda
| 9:00am | Registration and Continental Breakfast |
| 9:30am | Underwater: Strategic Trading and Risk Management in Bank Securities Portfolios
Andreas Fuster, Swiss Finance Institute Teodora Paligorova, Federal Reserve Board of Governors James Vickery, Federal Reserve Bank of Philadelphia Discussant: Mark Flannery, University of Florida Warrington College of Business |
| 10:20am | Securities Losses, Interbank Markets, and Monetary Policy Transmission: Evidence from the Eurozone
Mariassunta Giannetti, Stockholm School of Business Martina Jasova, Columbia University Caterina Mendicino, European Central Bank Dominik Supera, Columbia University Discussant: Amiyatosh Purnanandam, University of Michigan Ross School of Business |
| 11:10am | Coffee Break |
| 11:25am | Revolving Credit to SMEs: The Role of Business Credit Cards
Matteo Benetton, University of California, Berkeley, Haas School of Business Greg Buchak, Stanford Graduate School of Busines Discussant: Olivier Darmouni, Columbia Business School |
| 12:15pm | Lunch |
| 1:15pm | Bank Economic Capital Beverly Hirtle, Federal Reserve Bank of New York Matt Plosser, Federal Reserve Bank of New York Discussant: Stephan Ryan, New York University Stern School of Business |
| 2:05pm | The Decline of Branch Banking Rajesh P. Narayanan, Louisiana State University Dimuthu Ratnadiwakara, Federal Reserve Bank of Richmond Phil Strahan, Boston College Discussant: Efraim Benmelech, Northwestern University Kellogg School of Management |
| 2:55pm | Refreshment Break |
| 3:10pm | Diverging Banking Sector: New Facts and Macro Implications Shohini Kundu, University of California, Los Angeles Tyler Muir, University of California, Los Angeles Jinyuan Zhang, University of California, Los Angeles Discussant: Yao Zeng, University of Pennsylvania Wharton School of Business |
| 4:00pm | Adjourn |
