Banco de España in cooperation with the Centro de Estudios Monetarios y Financieros (CEMFI) organises a series of biennial conferences to promote the research and discussion of topics related to financial stability and macroprudential.
The fourth edition of the Conference on Financial Stability featured Jerome H. Powell, Chairman of the Federal Reserve Board, as keynote speaker, opening the event together with Pablo Hernández de Cos, Governor of Banco de España.
The programme included the presentation of twelve research papers and a closing policy panel on “Crisis Management and Deposit Insurance in Europe”, which was participated by Elena Carletti (Università Bocconi), Cornelia Holthausen (European Central Bank) and Jesús Saurina (Single Resolution Board) along with Ángel Estrada, Director General Financial Stability, Regulation and Resolution of Banco de España as moderator.
The conference took place in English and was livestreamed on Banco de España’s YouTube channel
, where the recordings of the event are publicly available.
Information
29 June 2023 - 30 June 2023
Banco de España, Madrid
Speakers
29 June
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Opening
Keynote and dialogue
Jerome H. Powell, Federal Reserve Board
Pablo Hernández de Cos, Banco de España
Moderator: Cornelia Holthausen, European Central Bank
Remarks by J.H. Powell
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Session 1
Chair: Rafael Repullo, CEMFI
Local lending specialization and monetary policy
Presentation by David Martínez Miera, Universidad Carlos III de Madrid
(2 MB)
Discussion by Christian Eufinger, IESE Business School (837 KB)Useful, usable, and used? Buffer usability during the Covid 19 crisis
Presentation by Matthew Naylor, Bank of England & University of Oxford (1 MB)
Discussion by Diana Bonfim, Banco de Portugal & Católica Lisbon (243 KB)Glossy green banks: The disconnect between environmental disclosures and lending activities
Presentation by Martina Jasova, Columbia University (563 KB)
Discussion by Eva Ortega, Banco de España (783 KB)
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Session 2
Chair: Veronica Rappoport, London School of Economics
The state-dependent impact of changes in bank capital requirements
Presentation by Jan Hannes Lang, European Central Bank (2 MB)
Discussion by Galo Nuño, Banco de España (741 KB)Sectoral credit allocation, capital requirements and financial stability
Presentation by Maximiliano San Millán, CEMFI (3 MB)
Discussion by Pedro Gete, IE University (1 MB)Banking dynamics, market discipline and capital regulations
Presentation by Tamon Takamura, Bank of Canada (799 KB)
Discussion by Javier Suarez, CEMFI (291 KB)
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Session 3
Chair: Anatoli Segura, Banca d’Italia
A structural model of interbank network formation and contagion
Presentation by Patrick Coen, Toulouse School of Economics (832 KB)
Discussion by Piero Gottardi, University of Essex (107 KB)Can stablecoins be stable?
Presentation by Quentin Vandeweyer, University of Chicago (651 KB)
Discussion by Matthieu Bouvard, Toulouse School of Economics (191 KB)CBDC and financial stability
Presentation by Peter Hoffmann, European Central Bank (208 KB)
Discussion by Xavier Vives, IESE Business School (512 KB)
30 June
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Session 4
Chair: Núria Mas, IESE Business School
Dynamic credit constraints: Theory and evidence from credit lines
Presentation by Niklas Amberg, Sveriges Riksbank (1 MB)
Discussion by Frederic Malherbe, University College London (835 KB)A theory of eligibility
Presentation by Florian Wicknig, Deutsche Bundesbank (518 KB)
Discussion by Victoria Vanasco, CREI (265 KB)Financing and resolving banking groups
Presentation by Julian Kolm, Universität Wien (386 KB)
Discussion by Alonso Villacorta, UC Santa Cruz (168 KB)
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Panel
Crisis management and deposit insurance in Europe
Chair: Ángel Estrada, Banco de España
Elena Carletti, Università Bocconi
Cornelia Holthausen, European Central Bank
Jesús Saurina, Single Resolution Board