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Banking Development, Stability and Sustainability

SBIF/UDP Conference

Conference Agenda and List of Accepted Papers

Thursday 5

Hour	Activity
8:30-9:15	Registration
9:15-9:30	Opening - Fernando Lefort Gorchs. Dean of Economics and Business; Universidad Diego Portales.
9:30-9:45	Welcome Remarks - Eric Parrado. Superintendent of Banks and Financial Institutions of Chile.
9:45-10:15	“Effective Regulation and Financial Stability”, Anat Admati. George G.C. Parker Professor of Finance and Economics, Graduate School of Business, Stanford University.
10:30-10:45	Coffee break
10:45-12:00	Papers Discussions:
	Session 1 Session 2 Session 3 CAPITAL BUFFERS I SYSTEMIC RISKS ASSET QUALITY Chair: Marco Morales (UDP). Associate Professor of Economics at the Universidad Diego Portales. Ph.D. in Economics, Boston University. Chair: Rodrigo Cifuentes (BCCh). Head of Financial Research at the Central Bank of Chile. Ph.D. in Economics, Harvard University. Chair: Orlando Balboa (Usach). Head of Economics Department at the Universidad de Santiago, Chile. Ph.D. in Economics, Vanderbilt University Prudential filters, portfolio composition and capital ratios in European banks. Isabel Argimón – Banco de España. Systemic Risk in a Structural Model of Bank Default Linkages. Dietmar P.J.Leisen - Gutenberg School of Management and Economics. Incorporation of financial ratios into prudential definition of assets: Micro and macro prudential perspective. Salome Skhirtladze – National Bank of Georgia The impact of the IRB approach on the risk weights of European banks. María Elizabeth Cristófoli - Banco de España. Thoughts on the Proper Design of Macro Stress Tests and Their Usefulness in Measuring, Monitoring and Controlling Systemic Risk. Gregory D. Sutton - BIS Safe Assets as Commodity Money. Benjamin Kay - U.S. Treasury
12:00-12:10	Coffee break
12:10-13:20	Papers Discussions:
	Session 4 Session 5 Session 6 CREDIT RISK PROVISIONING FUNDING RISK MORTGAGE CREDIT RISK Chair: Patricio Jaramillo (SBIF). Head of Risk Modeling and Methodologies, SBIF. M.A. in Economics Georgetown University USA. Chair: Roberto Alvarez (FEN). Head of Economics Department at Universidad de Chile. Ph.D. in Management, UCLA Anderson School of Management. Chair: Carlos J. Perez (UDP) Assistant Professor of Finance, Universidad Diego Portales. Ph.D. in Economics, Universidad Carlos III de Madrid. Are capital (and earnings) incentives effective for loan loss provisions? Ricardo Schechtman – Central Bank of Brazil. A comprehensive analysis of capital account liberalization on banking industry risks. Dan Su - National School of Development, Peking University. A micro-powered model of mortgage default risk: the case of Chile. Juan Francisco Martínez - Banco Central de Chile. Moving in tandem: bank provisioning in Emerging Market Economies. Andres Murcia – BIS Distance, concentration and crisis: analyzing the cost of the external banking debt in Chile. Pablo García - Banco Central de Chile. LTV and DTI Limits—Going Granular. Luis I. Jácome – IMF.
13:30-14:45	Luncheon
14:00-14:45	“The History of Banking Regulation in Chile” - Luis Morand and Miguel Ángel Nacrur. Lawyers.
15:00-15:30	“The role of microprudential, macroprudential, and monetary policies for preserving financial stability” - Rodrigo Vergara. Governor, Central Bank of Chile.
15:30-17:00	Panel de discusión - “Bank Regulation and Sustainability” - Moderador: Rudy Araujo, General Secretary of ASBA. Panelistas: Jouko Vilmunen, Head of Research, Bank of Finland - Mark Zelmer, Deputy Superintendent, Regulation Sector, OSFI Canada - Daniel Schydlowsky, Superintendente de Banca, Seguros y AFP de Perú - James Walsh, Deputy Division Chief, Monetary and Capital Markets, IMF.
17:00-17:15	Coffee break
17:15-18:00	“Bank enforcement actions and the terms of lending”, Iftekhar Hasan. E. Gerald E. Corrigan Professor of Finance, Fordham University and Scientific Advisor, Bank of Finland.
18:00	Closing Remarks
20:00	Dinner (by invitation only)

Friday 6

Hour	Activity
8:30-8:40	Welcome Remarks: Dr. Fernando Díaz. Head of Management and Business Department, Universidad Diego Portales (UDP).
8:40-10:00	Academic Panel - “Empirical Research in Banking”, Moderator: Dr. Fernando Diaz, Universidad Diego Portales. Panelists: Bill Francis. Member of the Editorial Board of the Journal of Financial Stability - Sris Chatterjee, Associate Editor of the Journal of Financial Stability - Gabriel Ramírez, Kennesaw State University.
10:00-10:15	Coffee break
10:20-11:30	Papers Discussions:
	Session 7 Session 8 Session 9 CAPITAL BUFFERS II CREDIT GROWTH BANKING SUPERVISION Chair: Jaime Forteza (SBIF) Senior Economist, Research Division, SBIF. Master, Mathématiques Appliquées en Economie et en Finance, University of Paris I: Panthéon-Sorbonne. Chair: Luis Opazo (ABIF). Research Director, Association of Banks, Chile. Ph.D. in Economics, Georgetown University. Chair: Félix Villatoro (UAI) Associate Professor of Finance at the Universidad Adolfo Ibáñez. Ph.D. in Economics, Pontificia Universidad Católica de Chile. Optimal capital, regulatory requirements and bank performance in times of crisis: Evidence from France. Pierre Pessarossi – ACPR (France). Credit Growth Dynamics. José Camarena – SBS del Perú Does Regulatory Bank Oversight Impact Economic Activity? A Local Projections Approach. Pavel Kapinos - FDIC The two faces of interbank correlation. Consuelo Silva Buston – Universidad Alberto Hurtado e ILADES The Winner's Curse: Evidence on the Danger of Aggressive Credit Growth in Banking. Benedikt Ruprecht – Bundesbank. Does the bond market discipline state owned enterprises? State banks borrow cheaper. Rodrigo Wagner - Universidad de Chile.
11:30-11:40	Coffee break
11:40-12:50	Papers Discussions:
	Session 10 Session 11 CREDIT CYCLE RISK BANKING SUSTAINABILITY Chair: Erik Berwart (SBIF) Senior Economist, Research Division, SBIF. Ph. D in Accounting and Finance, The University of Manchester. Chair: Esteban Pérez C. (CEPAL) Oficial Asuntos Económicos, Cepal. Ph.D in Economics, New School for Social Research, New York. Cyclicality of SME Lending and Government Involvement in Banks. Patrick Behr - EBAPE, Getulio Vargas Foundation. Financial development and banking credit: their effects on income inequality and poverty. Francisco Cabezón - SBIF. Explaining the cyclical volatility of consumer debt risk. Carlos Madeira - Banco Central de Chile Why Financial Advice Cannot Substitute for Financial Literacy? Majdi Debbich - Center for Financial Security, University of Wisconsin-Madison, USA and AMF - Autorité des marchés financiers, France.
13:00-13:30	"Managing the human resources of regulators (and other civil servants)" - David M. Kreps. Adams Distinguished Professor of Management, School of Humanities and Sciences, Graduate School of Business, Stanford University.
13:30	Closing Remarks - Eric Parrado. Superintendent of Banks and Financial Institutions of Chile.

 

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List of Accepted Papers at the Conference

(By alphabetical order)

• “A comprehensive analysis on capital account liberalization and bank risk” by Xiang Li and Dan Su; National School of Development, Peking University.
• “A micro-powered model of mortgage default risk for full recourse economies, with an application to the case of Chile” by Diego Avanzini, Juan Francisco Martínez and Víctor Pérez; Banco Central de Chile.
• “Are capital (and earnings) incentives effective for loan loss provisions?” by Ricardo Schechtman and Tony Takeda; Central Bank of Brazil.
• “Can the bond market discipline state owned enterprises? An application to State Banks” by Mauricio Jara, Universidad de Chile; Sergio Lazzarini, INSPER, Brasil; Aldo Musacchio, Brandeis University, USA and Rodrigo Wagner, Universidad de Chile & CID Harvard.
• “Credit growth dynamics” by Diego Winkelried, Universidad del Pacífico and Jose Camarena, Superintendency of Banking, Insurance and Private Pension Fund Administrators of Peru.
• “Cyclicality of SME Lending and Government Involvement in Banks” by Patrick Behr and Lars Norden, EBAPE, Getulio Vargas Foundation and Daniel Foos, Deutsche Bundesbank.
• “Explaining the cyclical volatility of consumer debt risk” by Carlos Madeira, Banco Central de Chile.
• “Distance, concentration and crisis: analyzing the cost of the external banking debt in Chile” by Andres Alegría and Pablo García; Banco Central de Chile and Kevin Cowan, Inter-American Development Bank.
• “Does Regulatory Bank Oversight Impact Economic Activity? A Local Projections Approach” by Vivian Hwa, Federal Deposit Insurance Corporation; Pavel Kapinos, Federal Deposit Insurance Corporation (FDIC) and Carlos D. Ramirez, George Mason University and FDIC.
• “Financial development, income inequality and poverty: a contribution in the debate on their relationships” by Karina López and Francisco Cabezón; Superintendency of Banks and Financial Institutions (SBIF).
• “Incorporation of financial ratios into prudential definition of assets: Micro and macro perspective” by Giorgi Kadagidze, Otar Nadaraia, Salome Skhirtladze, Vakhtang Sikharulishvili and Ana Kvaratskhelia; National Bank of Georgia (NBG).
• “LTV and DTI Limits—Going Granular” by Luis I. Jácome and Srobona Mitra, International Monetary Fund.
• “Moving in tandem: bank provisioning in Emerging Market Economies” by Andres Murcia and Emanuel Kohlscheen; BIS.
• “Optimal capital, regulatory requirements and bank performance in times of crisis: Evidence from France” by O. de Bandt, B. Camara, A. Maitre and P. Pessarossi; Autorité de Contrôle Prudentiel et de Résolution (ACPR).
• “Prudential filters, portfolio composition and capital ratios in European banks” by Isabel Argimón, Banco de España; Michel Dietsch, ACPR-Banque de France and Ángel Estrada, Banco de España.
• “Safe Assets as Commodity Money” by Maya Eden, World Bank and Benjamin Kay, US Treasury.
• “Systemic Risk in a Structural Model of Bank Default Linkages” by Yvonne Kreis, Gutenberg School of Management and Economics and Dietmar P.J. Leisen, Gutenberg School of Management and Economics.
• “The impact of the IRB approach on the risk weights of European banks” by María Elizabeth Cristófoli, Nadia Lavín Sansegundo, Carlos Pérez Montes and Carlos Trucharte Artigas; Banco de España.
• “The two faces of interbank correlation” by Klaus Schaeck, Bangor Business School; Consuelo Silva Buston, Universidad Alberto Hurtado – ILADES and Wolf Wagner, Rotterdam School of Management.
• “The winner's curse: Evidence on the danger of aggressive credit growth in banking” by Thomas Kick, Thilo Pausch and Benedikt Ruprecht; Bundesbank
• “Thoughts on the Proper Design of Macro Stress Tests and Their Usefulness in Measuring, Monitoring and Controlling Systemic Risk” by Petr Jakubík, EIOPA and Charles University, Prague and Gregory D. Sutton, FSI-BIS
• “Why financial advice cannot substitute for financial literacy?” by Majdi Debbich, Center for Financial Security, University of Wisconsin-Madison, USA and AMF - Autorité des marchés financiers, France.

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