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4th Conference on Banking Development, Stability, and Sustainability

Superintendencia de Bancos e Instituciones Financieras (SBIF)
Association of Supervisors of Banks of the Americas (ASBA)
Inter American Development Bank (IDB)
Facultad de Economía y Negocios de la Universidad de Chile (FEN)

The conference took place on Friday November 16, 2018 in Santiago, Chile at the Facultad de Economía y Negocios de la Universidad de Chile, Diagonal Paraguay 257, Santiago, Chile. As with previous editions (2015, 2016 and 2017), this conference aims to bring together academics, practitioners, and policymakers sharing interests in banking stability and sustainability. It also provides a forum for presenting new research as well as discussing current and challenging issues on financial stability and related topics. More information and updates will be published at this website.

Topics

The Conference provides an instance to discuss a wide range of topics in the area of banking stability, and sustainability; covering topics such as the impact of the implementation of the new Basel capital and liquidity frameworks, new banking resolution mechanisms, the use of stress testing in managing risks, the challenges of new technological development, cyber-security, banking supervision, financial inclusion, and environmentally-conscious banking.

Conference Agenda

HourActivity
8:30-9:00Registration and welcome coffee.
9:00-9:15Welcome address: Jose De Gregorio, Dean of the Faculty of Economics and Business, Universidad de Chile
9:15-9:30Welcome address: Mario Farren, Superintendent of Banks and Financial Institutions of Chile (SBIF)
9:30-10:20Guest Speaker: Brad Carr, Senior Director, Digital Finance Regulation and Policy; Institute of International Finance: “Beyond Basel III: digital disruption and new regulatory paradigms”
10:20-10:40Coffee break
10:40-11:50Fintech panel discussion - “Fintech, digital banking, and the cybersecurity dilemma”
Moderator: Rosario Celedon, Vice President, Financial Market Commission (CMF Chile)
Panelists:
Tania Ziegler, Alternative Finance Center, University of Cambridge
Diego Herrera, Connectivity, Markets and Finance Lead Specialist, Inter-American Development Bank
Belline Santana, Deputy Head of the Banking Supervision Department, Banco Central do Brasil (Brazil)
11:50-12:10Coffee Break
12:10-13:00Guest Speaker: Thorsten Beck, Full Professor of Banking and Finance; Cass Business School, University of London: "Post-crisis regulatory reform - where do we stand?"
13:00-14:15Lunch
14:20-16:00Academic discussion sessions
Session 1Session 2Session 3
INTERBANK LENDING
Chair: Christian Larrain, Financial Market Commission (CMF)
Room: P303
ELIMINATING MARKET DISTORTIONS AND ASYMMETRICAL INFORMATION
Chair: Alberto Naudon, Central Bank of Chile
Room: P304
MARKET DISCIPLINE
Chair: Sebastian Claro, Universidad Católica de Chile
Room: P305
Interbank Network Disruptions and the Real Economy.
Dasha Safonova– U.S. Securities and Exchange Commission.
Discussant: Markus Kirchner, Central Bank of Chile
Estimating the Information Component in Switching Costs: A Structural Approach
Santiago Truffa, Shaisha Kulkarni, Gonzalo Iberti– Tulane University, UC Berkely and Superintendence of Banks and Financial Institutions of Chile (SBIF)
Discussant: Carlos Noton, Universidad de Chile
Debt holder monitoring and implicit guarantees: Did the BRRD improve market discipline?
Jannic Alexander Cutura– Goethe University Frankfurt
Discussant: Roberto Alvarez, Universidad de Chile
Financial (In)Stability in Chile.
E. Kazakova, Juan Francisco Martinez, M. U. Peiris, and D. P. Tsomocos; National Research University Higher School of Economics, Russian Federation; Central Bank of Chile; University of Oxford
Discussant: Cristian Echeverria, Universidad del Desarrollo
Measuring the Effects of Information on Credit Market Competition
Fritz Foley, Agustin Hurtado, Andrés Liberman, Alberto Sepulveda - Harvard Business School; University of Chicago Booth School of Business; New York University; Superintendence of Banks and Financial Institutions of Chile (SBIF)
Discussant: Alejandro Micco, Universidad de Chile
Banks' Business Model and Supply of Credit in Chile
Antonio Lemus, Miguel Birón, Felipe Córdova - Superintendence of Banks and Financial Institutions of Chile (SBIF), Central Bank of Chile
Discussant: Carlos Madeira, Central Bank of Chile
16:00-16:20Coffee Break
16:20-18:00Academic discussion sessions
Session 4Session 5Session 6
SYSTEMIC RISK
Chair: Kevin Cowan, Financial Market Commission (CMF)
Room: P303
COMPETITION
Chair: Mauricio Larrain, Financial Market Commission (CMF)
Room: P304
CAPITAL ADEQUACY
Chair: Luis Figueroa, SBIF
Room: P305
The (un)desired Effects of Government Bailouts: the Impact of TARP on the Interbank Market and Bank Risk-taking
Patrick Behr, Weichao Wang; Brazilian School of Public and Business Administration (EBAPE), Getúlio Vargas Foundation
Discussant: Alejandra Marinovic, Universidad Adolfo Ibáñez
Modeling demand deposits and interest rate risk sharing: Lessons from the Mexican banking regulation
Mariela Dal Borgo. Bank of Mexico
Discussant: Alfredo Pistelli, Superintendence of Banks and Financial Institutions of Chile (SBIF)
Optimal Capital Requirement with Noisy Signals on Banking Risk
Kai Ding, Enoch Hill, David Perez-Reyna – California State University, East Bay; Wheaton College, Universidad de los Andes de Colombia
Discussant: Claudio Soto, Banco Santander
Multibank Holding Companies and Bank Stability
Radoslav Raykov and Consuelo Silva-Buston; Bank of Canada; Pontificia Universidad de Católica de Chile
Discussant: Eric Parrado, Universidad de los Andes
Banking Competition and the Cost of Credit for Firms: Evidence from Loan-level data in Chile.
Erwin Hansen; Miguel A. Urbina- Facultad de Economía y Negocios, Universidad de Chile; Superintendence of Banks and Financial Institutions of Chile (SBIF)
Discussant: Fernando Diaz, Universidad Diego Portales
U.S. Stress Tests and Bank Risk-Taking: Evidence from the Syndicated Loan Market.
Elis Deriantino Naiborhu- Bank Indonesia and University of Warwick
Discussant: Andrés Sagner, Central Bank of Chile
18:30Closing cocktail reception (by invitation only)

Conferences Chairs

Dr. Nancy Silva, Superintendencia de Bancos e Instituciones Financieras.

Dr. Erwin Hansen, Facultad de Economía y Negocios, Universidad de Chile.

Rudy Araujo, Association of Supervisors of Banks of the Americas (ASBA).

Cesar Tamayo, Inter American Development Bank.

Ask me about the Conference

General inquiries regarding the conference should be directed to our email address. Further information and updates will be provided in this website.

Documents and presentations available

Here you can get the documents authorized by the owners for download:

NameAuthor(s)Link
Keynote Speakers
"Post-crisis regulatory reform - where do we stand?"Thorsten Beck, Full Professor of Banking and Finance; Cass Business School, University of LondonDownload (PDF)
“Beyond Basel III: digital disruption and new regulatory paradigms”Brad Carr, Senior Director, Digital Finance Regulation and Policy; Institute of International FinanceDownload (PDF)
Fintech panel discussion - “Fintech, digital banking, and the cybersecurity dilemma”
“Reaching New Heights”Tania Ziegler, Alternative Finance Center, University of CambridgeDownload (PDF)
Fintech in Latin AmericaDiego Herrera, Connectivity, Markets and Finance Lead Specialist, Inter-American Development BankDownload (PDF)
“Fintech, digital banking, and the cybersecurity dilemma”Belline Santana, Deputy Head of the Banking Supervision Department, Banco Central do Brasil (Brazil)Download (PDF)
Session 1: INTERBANK LENDING
Interbank Network Disruptions and the Real Economy - PaperDasha Safonova– U.S. Securities and Exchange Commission.Download (PDF)
Interbank Network Disruptions and the Real Economy - PresentationDasha Safonova– U.S. Securities and Exchange Commission.Download (PDF)
Interbank Network Disruptions and the Real Economy - Discussant documentDiscussant: Markus Kirchner, Central Bank of ChileDownload (PDF)
Financial (In)Stability in Chile - PaperE. Kazakova, Juan Francisco Martinez, M. U. Peiris, and D. P. Tsomocos; National Research University Higher School of Economics, Russian Federation; Central Bank of Chile; University of Oxford.Download (PDF)
Financial (In)Stability in Chile - PresentationE. Kazakova, Juan Francisco Martinez, M. U. Peiris, and D. P. Tsomocos; National Research University Higher School of Economics, Russian Federation; Central Bank of Chile; University of Oxford.Download (PDF)
Financial (In)Stability in Chile - Discussant documentDiscussant: Cristian Echeverria, Universidad del DesarrolloDownload (PDF)
Session 2: ELIMINATING MARKET DISTORTIONS AND ASYMMETRICAL INFORMATION
Estimating the Information Component in Switching Costs: A Structural Approach - PaperSantiago Truffa, Shaisha Kulkarni, Gonzalo Iberti– Tulane University, UC Berkely and Superintendence of Banks and Financial Institutions of Chile (SBIF).Download (PDF)
Estimating the Information Component in Switching Costs: A Structural Approach - PresentationSantiago Truffa, Shaisha Kulkarni, Gonzalo Iberti– Tulane University, UC Berkely and Superintendence of Banks and Financial Institutions of Chile (SBIF).Download (PDF)
Estimating the Information Component in Switching Costs: A Structural Approach - Discussant documentDiscussant: Carlos Noton, Universidad de ChileDownload (PDF)
Measuring the Effects of Information on Credit Market Competition - PaperFritz Foley, Agustin Hurtado, Andrés Liberman, Alberto Sepulveda - Harvard Business School; University of Chicago Booth School of Business; New York University; Superintendence of Banks and Financial Institutions of Chile (SBIF).Download (PDF)
Measuring the Effects of Information on Credit Market Competition - PresentationFritz Foley, Agustin Hurtado, Andrés Liberman, Alberto Sepulveda - Harvard Business School; University of Chicago Booth School of Business; New York University; Superintendence of Banks and Financial Institutions of Chile (SBIF).Download (PDF)
Session 3: MARKET DISCIPLINE
Debt holder monitoring and implicit guarantees: Did the BRRD improve market discipline? - PaperJannic Alexander Cutura– Goethe University Frankfurt.Download (PDF)
Debt holder monitoring and implicit guarantees: Did the BRRD improve market discipline? - Discussant documentDiscussant: Roberto Alvarez, Universidad de Chile.Download (PDF)
Banks' Business Model and Supply of Credit in Chile - PaperAntonio Lemus, Miguel Birón, Felipe Córdova - Superintendence of Banks and Financial Institutions of Chile (SBIF), Central Bank of Chile.Download (PDF)
Banks' Business Model and Supply of Credit in Chile - PresentationAntonio Lemus, Miguel Birón, Felipe Córdova - Superintendence of Banks and Financial Institutions of Chile (SBIF), Central Bank of Chile.Download (PDF)
Banks' Business Model and Supply of Credit in Chile - Discussant documentDiscussant: Carlos Madeira, Central Bank of ChileDownload (PDF)
Session 4: SYSTEMIC RISK
The (un)desired Effects of Government Bailouts: the Impact of TARP on the Interbank Market and Bank Risk-taking - PaperPatrick Behr, Weichao Wang; Brazilian School of Public and Business Administration (EBAPE), Getúlio Vargas Foundation.Download (PDF)
The (un)desired Effects of Government Bailouts: the Impact of TARP on the Interbank Market and Bank Risk-taking - PresentationPatrick Behr, Weichao Wang; Brazilian School of Public and Business Administration (EBAPE), Getúlio Vargas Foundation.Download (PDF)
The (un)desired Effects of Government Bailouts: the Impact of TARP on the Interbank Market and Bank Risk-taking - Discussant documentDiscussant: Alejandra Marinovic, Universidad Adolfo Ibáñez.Download (PDF)
Session 5: COMPETITION
Modeling demand deposits and interest rate risk sharing: Lessons from the Mexican banking regulation - PaperMariela Dal Borgo. Bank of Mexico.Download (PDF)
Modeling demand deposits and interest rate risk sharing: Lessons from the Mexican banking regulation - PresentationMariela Dal Borgo. Bank of Mexico.Download (PDF)
Modeling demand deposits and interest rate risk sharing: Lessons from the Mexican banking regulation - Discussant documentDiscussant: Alfredo Pistelli, Superintendence of Banks and Financial Institutions of Chile (SBIF).Download (PDF)
Session 6: CAPITAL ADEQUACY
Optimal Capital Requirement with Noisy Signals on Banking Risk - PaperKai Ding, Enoch Hill, David Perez-Reyna – California State University, East Bay; Wheaton College, Universidad de los Andes de Colombia.Download (PDF)
Optimal Capital Requirement with Noisy Signals on Banking Risk - PresentationKai Ding, Enoch Hill, David Perez-Reyna – California State University, East Bay; Wheaton College, Universidad de los Andes de Colombia.Download (PDF)

Previous Conferences

Please feel free to browse the websites of previous versions of the Banking Development, Stability and Sustainability Conference:

 

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