SI 2022 Risks of Financial Institutions

Mark Carey and René M. Stulz, Organizers

July 12-13, 2022

Charles Room AB

Royal Sonesta Hotel, 40 Edwin H. Land Blvd., Cambridge, MA and

Conference Code of Conduct

Tuesday, July 12
12:00 pm
Afternoon session joint with Corporate Finance, Ballroom A
1:10 pm
Zhiguo He, Stanford University and NBER
Jing Huang, Texas A&M University
Jidong Zhou, Yale University

Open Banking: Credit Market Competition When Borrowers Own the Data (slides)
Discussant: Marcus Opp, Stockholm School of Economics (slides)
2:00 pm
Tania Babina, Columbia University and NBER
Greg Buchak, Stanford University
Will Gornall, University of British Columbia

Customer Data Access and Fintech Entry: Early Evidence from Open Banking
Discussant: Theresa Kuchler, New York University and NBER
2:50 pm
3:20 pm
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

Exorbitant Privilege? Quantitative Easing and the Bond Market Subsidy of Prospective Fallen Angels
Discussant: Annette Vissing-Jorgensen, Federal Reserve Board and NBER
4:10 pm
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

Bank Funding Risk, Reference Rates, and Credit Supply (slides)
Discussant: Anil K Kashyap, University of Chicago and NBER
5:00 pm
Wednesday, July 13
9:00 am
Coffee and Pastries
9:30 am
Shohini Kundu, University of California, Los Angeles

The Externalities of Fire Sales: Evidence from Collateralized Loan Obligations
Discussant: Victoria Ivashina, Harvard University and NBER
10:20 am
Christopher M. James, University of Florida
Tao Li, University of Florida
Jing Lu, University of Florida
Mustafa Emin, University of Florida

How Fragile Are Loan Mutual Funds?
Discussant: Yiming Ma, Columbia University
11:10 am
11:30 am
Viral V. Acharya, New York University and NBER
Raghuram Rajan, University of Chicago and NBER

Liquidity, Liquidity Everywhere, Not a Drop To Use: Why Flooding Banks With Central Bank Reserves May Not Expand Liquidity
Discussant: Jeremy C. Stein, Harvard University and NBER
12:20 pm
1:20 pm
Funding Risks
Adam Copeland, Federal Reserve Bank of New York
Antoine Martin, Federal Reserve Bank of New York

Repo Over the Financial Crisis
Robert Czech, Bank of England
Shiyang Huang, London School of Economics
Dong Lou, London School of Economics
Tianyu Wang, School of Economics and Finance, Tsinghua University

Unintended Consequences of Holding Dollar Assets
Mathias Kruttli, Indiana University
Phillip J. Monin, Federal Reserve Board
Lubomir Petrasek, Federal Reserve Board
Sumudu W. Watugala, Indiana University

LTCM Redux? Hedge Fund Treasury Trading and Funding Fragility
Discussant: Simon Potter, Millennium
2:40 pm
3:05 pm
Erasmo Giambona, Syracuse University
Anil Kumar, Aarhus University
Gordon M. Phillips, Dartmouth College and NBER

Hedging, Contract Enforceability and Competition
Discussant: Shan Ge, New York University
3:55 pm
Marcin Kacperczyk, Imperial College London
Jose-Luis Peydro, Universitat Pompeu Fabra

Carbon Emissions and the Bank-Lending Channel
Discussant: Michael R. Roberts, University of Pennsylvania and NBER
4:45 pm