Optimal Bank Capital Regulation
TCH/Columbia SIPA Research Conference
February 23, 2017
Location:
Columbia University
International Affairs Building
15th floor
420 West 118th Street
New York, NY 10027
8-8:45: Breakfast
8:45 am: Introductory remarks:
 Merit Janow, Dean of School of International and Public Affairs, Columbia University
 Greg Baer, President of The Clearing House Association
9:00-10:15
Panel #1: Benefits and Costs of Capital Regulation
Chair: Charles Taylor (George Washington)
 Douglas Elliott (Oliver Wyman)
 Giovanni Dell’Ariccia (IMF)
 Jas Ellis (Bank of England)
10:30-12:00
Paper Session #1: Unintended Consequences
Chair: TBD
 Jill Cetina (Office of Financial Research) “Do Higher Capital Standards Always Reduce
Bank Risk? The Impact of the Basel Leverage Ratio on the U.S. Triparty Repo
Market”
 Nicola Garbarino (Bank of England) “Specialization in Mortgage Risk under Basel II”
Discussants:
James Weatherly (Capital One)
Richard Herring (Wharton)
12:00 – 1:30
Lunch
Keynote: Kevin Stiroh, Executive Vice President, Federal Reserve Bank of New York
Conversation with Patricia Mosser (Columbia SIPA)
1:30 to 3:00
Paper Session #2: Capital Requirements and Financial Stability
Chair: Patricia Mosser (Columbia SIPA)
 Moritz Schularick (CEPR and Bonn), “Bank Capital Redux”
 Christoph Basten (FINMA),” Higher Bank Capital Requirements and Mortgage
Pricing: Evidence from the Countercyclical Capital Buffer”
Discussants:
Andreas Lehnert (Federal Reserve Board)
Steven Strongin (Goldman Sachs)
3:15 to 4:45
Paper Session #3: Models of Optimal Bank Liability Structure
Chair: William Nelson, The Clearing House Association
 Douglas Gale (NYU), “Bank Capital Structure, Fire Sales, and the Social Value of
Deposits”
 Zhenyu Wang (Indiana), “Bank Liability Structure”
Discussants:
Francisco Covas (The Clearing House Association)
Patrick Bolton (Columbia)
4:45 to 6:00
Panel #2: Impact of regulation on bank’s internal capital allocation
Chair: Charles Calomiris (Columbia)
 Michael Hsu (Federal Reserve Board)
 Chris Mazingo (McKinsey)
 Scott Albinson (JPMorgan Chase)
6:00pm
Reception
15th floor, International Affairs Building
Columbia University