ECB conference on financial stability and macroprudential policy 2024
Wednesday, 20 and Thursday, 21 November 2024
European Central Bank
Frankfurt am Main
The European Central Bank (ECB) is organising its sixth annual macroprudential policy and research conference, which will be organised in conjunction with a high-level policy forum marking the 20th anniversary of the ECB Financial Stability Review, taking place in the afternoon of Wednesday, 20 November 2024.
The conference aims to bring together academics, central bankers and interested market participants to present and discuss new research on financial stability and macro-finance topics of particular interest to central banks.
Request online participation for the academic sessions on 21 November
If you want to attend the academic sessions online, register by clicking on the button below. When your registration is approved, you'll receive an invitation to join the webinar.
Participation in the High-level policy forum on day 1 is by invitation only.
Programme
* indicates the presenter
-
High-level policy forum
- upon invitation only -
- 13:30
-
Registration and coffee
- 14:00
-
Welcome address / opening remarks
Christine Lagarde, ECB
-
Session 1
Financial stability communication: from tranquil times to crisesSession chair: John Fell, ECB
- 14:15
-
Keynote speech I
Stefan Ingves, former governor Sveriges Riksbank
- 15:00
-
Panel I
Central bank communication on financial stabilityPanellists:
- Vítor Constâncio, former ECB Vice-President/University of Navarra
- Stijn Claessens, Yale School of Management
- Ernest Gnan, SUERF
- Ljiljana Čortan, ING
- 16:00
-
Coffee break
-
Session 2
Financial stability analysis under uncertainty: false alarms versus missing crisesSession chair: Cornelia Holthausen, ECB
- 16:30
-
Keynote speech II
Sarah Breeden, Bank of England
- 17:15
-
Panel II
Financial stability analysis in changing times: Mind the gapsPanellists:
- Andreas Lehnert, Board of Governors of the Federal Reserve System
- Aino Bunge, Sveriges Riksbank
- Stephen Cecchetti, Brandeis International Business School
- 18:15
-
End of policy forum
- 19:00
-
Dinner – by invitiation only
Dinner speech
Luis de Guindos, ECB
-
Academic sessions
- 8:30
-
Registration and coffee
- 9:00
-
Keynote speech
Moritz Schularick, Kiel Institut für Weltwirtschaft
- 10:00
-
Coffee break
-
Session 1
Systemic risk and banking sector developmentsSession chair: John Fell, ECB
- 10:30
-
LASH risk and Interest Rates
- Laura Alfaro, Harvard Business School
- Saleem Bahaj, University College London & Bank of England
- Robert Czech, Bank of England
- Jonathon Hazell, London School of Economics
- Ioana Neamtu*, Bank of England
Discussant: Jean David Sigaux, ECB
- 11:15
-
Diverging Banking Sector: New Facts and Macro Implications
Shohini Kundu*, Tyler Muir and Jinyuan Zhang, all Anderson School of Management (UCLA)
Discussant: Olivier De Jonghe, Nationale Bank van België/Banque Nationale de Belgique, ECB and Tilburg University
- 12:00
-
Private Debt versus Bank Debt in Corporate Borrowing
- Sharjil Haque, Federal Reserve Board of Governors
- Simon Mayer, Carnegie Mellon University
- Irina Stefanescu*, Federal Reserve Board of Governors
Discussant: Christoph Kaufmann, ECB
- 12:45
-
Buffet lunch
-
Session 2
Banking sector policiesSession chair: Angela Maddaloni, ECB
- 14:00
-
Payout Restrictions and Bank Risk-Shifting
- Fulvia Fringuellotti*, Federal Reserve Bank of New York
- Thomas Kroen, International Monetary Fund
Discussant: Teodora Paligorova, Federal Reserve Board of Governors
- 14:45
-
From losses to buffer – calibrating the positive neutral CCyB rate in the euro area
- Giorgia De Nora*, ECB
- Ana Pereira, Bank of England
- Mara Pirovano, ECB
- Florian Stammwitz, Frankfurt School of Finance & Management
Discussant: Manuel A. Muñoz, Spanish Treasury
- 15:30
-
Coffee break
-
Session 3
Policy interactionsSession chair: Philipp Hartmann, ECB
- 16:00
-
The zombie lending channel of monetary policy
- Bruno Albuquerque*, International Monetary Fund
- Chenyu (Sophia) Mao, University of Maryland
Discussant: Enrico Sette, Banca d’Italia
- 16:45
-
Unintended Consequences of QE: Real Estate Prices and Financial Stability
- Tobias Berg, Goethe University
- Rainer Haselmann, Goethe University
- Thomas Kick, Deutsche Bundesbank
- Sebastian Schreiber*, Goethe University
Discussant: Caterina Mendicino, ECB
- 17:30
-
Banks’ Foreign Homes
- Kirsten Schmidt*, Deutsche Bundesbank
- Lena Tonzer, Otto-von-Guericke-University Magdeburg, Halle Institute for Economic Research
Discussant: Iñaki Aldasoro, Bank for International Settlements
- 18:15
-
Closing remarks and end of conference
This programme may be subject to change without notice.
Audiovisual notice: A photographer will be present at the event taking photographs for our internet/intranet webpage. If you prefer not to have your photograph taken, please approach the photographer directly. The event may be filmed and the video recording, or parts of it, may be published on the internet/intranet.
General information
European Central Bank
Eurotower
Kaiserstraße 29
60311 Frankfurt am Main
English
Participants are requested to arrange their own transfers, unless indicated otherwise.
- John Fell
- Livio Stracca
- Angela Maddaloni
- Paul Hiebert
- Desislava Andreeva
- Stefan Wredenborg
- Markus Behn
- Sandor Gardo
all ECB
Christine Wehrheim
+49 162 4061638
christine.wehrheim@ecb.europa.eu
Nikolina Mihilli
+49 69 1344 21319
nikolina.mihilli@ecb.europa.eu