Tuesday, July 12
12:00 pm
Lunch
Afternoon session joint with Corporate Finance, Ballroom A
1:10 pm

Open Banking: Credit Market Competition When Borrowers Own the Data (slides)

Zhiguo He, Stanford University and NBER
Jing Huang, Texas A&M University
Jidong Zhou, Yale University

Discussant:
Marcus Opp, Stockholm School of Economics (slides)
2:00 pm

Customer Data Access and Fintech Entry: Early Evidence from Open Banking

Tania Babina, University of Maryland and NBER
Greg Buchak, Stanford University
Will Gornall, University of British Columbia

Discussant:
Theresa Kuchler, New York University and NBER
2:50 pm
Break
3:20 pm

Exorbitant Privilege? Quantitative Easing and the Bond Market Subsidy of Prospective Fallen Angels

Viral V. Acharya, New York University and NBER
Ryan Banerjee, Bank for International Settlements
Matteo Crosignani, Federal Reserve Bank of New York
Tim Eisert, Nova School of Business and Economics
Renée Spigt, Erasmus University Rotterdam

Discussant:
Annette Vissing-Jorgensen, Federal Reserve Board of Governors and NBER
4:10 pm

Bank Funding Risk, Reference Rates, and Credit Supply (slides)

Darrell Duffie, Stanford University and NBER
Harry R. Cooperman, Federal Reserve Bank of New York
Stephan Luck, Federal Reserve Bank of New York
Zachry Z. Wang, Stanford University
David Yang, City University of Hong Kong

Discussant:
Anil K Kashyap, University of Chicago and NBER
5:00 pm
Adjourn
Wednesday, July 13
9:00 am
Coffee and Pastries
9:30 am

The Externalities of Fire Sales: Evidence from Collateralized Loan Obligations

Shohini Kundu, University of California, Los Angeles

Discussant:
Victoria Ivashina, Harvard University and NBER
10:20 am

How Fragile Are Loan Mutual Funds?

Christopher M. James, University of Florida
Tao Li, University of Florida
Jing Lu, UNSW
Mustafa Emin, University of Florida

Discussant:
Yiming Ma, Columbia University
11:10 am
Break
11:30 am

Liquidity, Liquidity Everywhere, Not a Drop To Use: Why Flooding Banks With Central Bank Reserves May Not Expand Liquidity

Viral V. Acharya, New York University and NBER
Raghuram Rajan, University of Chicago and NBER

Discussant:
Jeremy C. Stein, Harvard University and NBER
12:20 pm
Lunch
1:20 pm
Funding Risks

Repo Over the Financial Crisis

Adam Copeland, Federal Reserve Bank of New York
Antoine Martin, Federal Reserve Bank of New York

Unintended Consequences of Holding Dollar Assets

Robert Czech, Bank of England
Shiyang Huang, London School of Economics
Dong Lou, London School of Economics
Tianyu Wang, Tsinghua University

LTCM Redux? Hedge Fund Treasury Trading and Funding Fragility

Mathias Kruttli, Indiana University
Phillip J. Monin, Federal Reserve Board of Governors
Lubomir Petrasek, Federal Reserve Board of Governors
Sumudu W. Watugala, Indiana University

Discussant:
Simon Potter, Millennium
2:40 pm
Break
3:05 pm

Hedging, Contract Enforceability and Competition

Erasmo Giambona, Syracuse University
Anil Kumar, Aarhus University
Gordon M. Phillips, Dartmouth College and NBER

Discussant:
Shan Ge, New York University
3:55 pm

Carbon Emissions and the Bank-Lending Channel

Marcin Kacperczyk, Imperial College London
Jose-Luis Peydro, Universitat Pompeu Fabra

Discussant:
Michael R. Roberts, University of Pennsylvania and NBER
4:45 pm
Adjourn