Supervising Large, Complex Financial Institutions:
Defining Objectives and Measuring Effectiveness
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Federal Reserve Bank of New York
10th Floor, Benjamin Strong Room |
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8:30 a.m. |
Registration and Continental Breakfast
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9:00 a.m. |
Welcome and Opening Remarks
William C. Dudley
President and Chief Executive Officer
Federal Reserve Bank of New York |
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9:15 a.m. |
Session 1: The Theory and Practice of Supervision
“Supervising Large Complex Financial Institutions: What Do Supervisors Do?”
Thomas Eisenbach, Andrew Haughwout, Beverly Hirtle, Anna Kovner, David Lucca and Matthew Plosser
Presenter: Beverly Hirtle (presentation)
Senior Vice President, Research & Statistics Group
Federal Reserve Bank of New York
“The Economics of Bank Supervision”
Thomas Eisenbach, David Lucca and Robert Townsend
Presenter: Thomas Eisenbach (presentation)
Economist, Research & Statistics Group
Federal Reserve Bank of New York
Discussant: Douglas W. Diamond (presentation)
Merton H. Miller Distinguished Service Professor of Finance
The University of Chicago Booth School of Business
Discussant: Mark J. Flannery (presentation)
Chief Economist and Director of Economic and Risk Analysis Division
Securities and Exchange Commission
Moderator: Kevin J. Stiroh
Executive Vice President, Head of the Supervision Group
Federal Reserve Bank of New York
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10:30 a.m. |
Break
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11:00 a.m. |
Session 2: Panel Discussion on Defining the Objectives and Goals of Supervision
Panelists:
Andrew Bailey
Deputy Governor for Prudential Regulation and Chief Executive Officer
U.K. Prudential Regulation Authority, Bank of England
Michael S. Gibson
Director, Division of Supervision and Regulation
Board of Governors of the Federal Reserve System
Thomas M. Hoenig (full text of remarks)
Vice Chairman
Federal Deposit Insurance Corporation
Eric S. Rosengren (full text of remarks)
President and Chief Executive Officer
Federal Reserve Bank of Boston
Chair: James J. McAndrews
Executive Vice President, Director of Research & Statistics Group
Federal Reserve Bank of New York
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12:30 p.m. |
Lunch (1st Floor, Liberty Room)
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1:45 p.m. |
Session 3: Measuring the Impact of Supervision
“Parsing the Content of Bank Supervision”
Paul Goldsmith-Pinkham, Beverly Hirtle and David Lucca
Presenter: Paul Goldsmith-Pinkham (presentation)
Economist, Research & Statistics Group
Federal Reserve Bank of New York
“The Impact of Supervision on Bank Performance”
Beverly Hirtle, Anna Kovner and Matthew Plosser
Presenter: Matthew Plosser (presentation)
Economist, Research & Statistics Group
Federal Reserve Bank of New York
Discussant: Antoinette Schoar (presentation)
Michael Koerner ’49 Professor of Entrepreneurial Finance
MIT Sloan School of Management
Discussant: Philip E. Strahan (presentation)
John L. Collins Chair in Finance
Carroll School of Management, Boston College
Moderator: Margaret M. McConnell
Senior Vice President, Integrated Policy Analysis Group
Federal Reserve Bank of New York
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3:00 p.m. |
Break
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3:30 p.m. |
Session 4: Panel Discussion on Measuring the Effectiveness of Supervision
Panelists:
Ron J. Feldman
Executive Vice President and Senior Policy Advisor
Federal Reserve Bank of Minneapolis
Timothy P. Clark
Senior Associate Director, Division of Supervision and Regulation
Board of Governors of the Federal Reserve System
Martin Pfinsgraff
Senior Deputy Comptroller for Large Bank Supervision
Office of the Comptroller of the Currency
Stefan Walter
Director General of Micro-prudential Supervision I
European Central Bank
Chair: Joao Santos
Vice President, Research & Statistics Group
Federal Reserve Bank of New York
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4:45 p.m. |
Reception (1st Floor, East Wing) |
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