Federal Reserve Short-Term Funding Markets

Friday, April 6, 2018
The Smith Suite at the Ronald Reagan Building
1300 Pennsylvania Avenue NW
Washington, DC 20004

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Invited Session

The Run on Repo and the Fed's Response

  • Gary Gorton, Yale
  • Toomas Laarits, Yale
  • Andrew Metrick, Yale

Session #1: Funding Frictions

Mortgage Dollar Roll

  • Zhaogang Song, Johns Hopkins
  • Haoxiang Zhu, MIT

Can Cross-Border Funding Frictions Explain Financial Integration Reversals?

  • Amir Akbari, University of Ontario
  • Francesca Carrieri, McGill
  • Aytek Malkhozov, Federal Reserve Board

Session #2: Monetary Policy and Its Effects

Monetary Transmission in Shadow Banks

  • Kairong Xiao, Columbia University

Can the US interbank market be revived?

  • Kyungmin Kim, Federal Reserve Board
  • Antoine Martin, New York Fed
  • Ed Nosal, Chicago Fed

Session #3: The Supply of Safe Assets

The Private Production of Safe Assets

  • Marcin Kacperczyk, Imperial College
  • Christophe Perignon, HEC Paris
  • Guillaume Vuillemey, HEC Paris

The Use of Collateral in Bilateral Repurchase and Securities Lending Agreements

  • Viktoria Baklanova, OFR
  • Cecilia Caglio, Federal Reserve Board
  • Marco Cipriani, New York Fed
  • Adam Copeland, New York Fed

Session #4: Deposit Insurance and Investor Runs

Optimal Deposit Insurance

  • Eduardo Davila, NYU
  • Itay Goldstein, Wharton

Deposit Inflows and Outflows in Failing Banks: The Role of Deposit Insurance

  • Christopher Martin, FDIC
  • Manju Puri, Duke
  • Alexander B. Ufier, FDIC

Program Committee: Sergey Chernenko (Purdue), Emily Gallagher (Washington University), Itay Goldstein (Wharton), Gary Gorton (Yale), Wei Jiang (Columbia), Yi Li (Federal Reserve Board), Claudia Moise (University of Maryland), Lawrence Schmidt (Chicago), Philipp Schnabl (NYU), Allan Timmermann (UCSD), Alex Zhou (Federal Reserve Board), and Francesca Zucchi (Federal Reserve Board)

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