EBA欧洲银行-Research-workshop-agenda-282012-11-1429_3页_344kb

EBA Research Workshop Summary

Overview

The EBA Research Workshop, held on 21 November 2012 at 4 Chiswell Street, London, focused on the evolution of banks' business models post-crisis, with an emphasis on incentives, strategies, and de-risking. The event featured a range of sessions on risk measurement, business cycles, regulation, and the impact of the financial crisis on shadow banking.

Core Content

The workshop aimed to explore how banks have adapted their business models in response to the financial crisis, particularly in terms of profitability, risk management, and regulatory changes. It brought together academics and industry experts to discuss the interplay between banking strategies, financial stability, and macroprudential regulation.

Main Sessions and Key Topics

1. Opening and Welcome

• Registration: 09:00–09:30
• Welcome Speech: Delivered by EBA Chairperson Andrea Enria (09:30–09:45)
• Key Note Speech: Presented by Prof. Iftekhar Hasan from Fordham University (09:45–10:45)
  • Topic: CEO Social Network and Firm Performance
  • Focus: Examined the relationship between CEO social networks and firm performance, suggesting that social connections can influence strategic decisions and outcomes.

2. Session 1: Risk Measurement

Time: 11:15–13:15
Chair: Prof. Andrea Resti (Bocconi University)

• Diana Bonfim and Moshe Kim: "Liquidity risk in banking: is there herding?"
  • Explored whether banks exhibit herding behavior in liquidity risk management.
• Saskia van Ewijk and Ivo Arnold: "How bank business models drive interest margins: Evidence from U.S. bank-level data"
  • Analyzed the effect of business models on interest margins in U.S. banks.
• Sam Langfield, Zijun Liu and Tomohiro Ota: "Mapping the UK interbank system"
  • Presented a detailed analysis of the UK interbank system, highlighting its structure and vulnerabilities.
• Francesco Cannata and Simone Casellina: "A comprehensive approach to banks' RWA: An application to Italian banks"
  • Discussed a comprehensive risk-weighted asset (RWA) approach tailored to Italian banks, emphasizing its relevance for regulatory compliance.

3. Session 2: Business Cycles and Banking

Time: 14:15–16:15
Chair: Prof. Giovanni Ferri (University of Bari)

• Yener Altunbas, Simone Manganelli and David Marques-Ibanez: "Bank risk during the Great Recession: Do business models matter?"
  • Investigated the role of business models in bank risk exposure during the Great Recession.
• Ugo Albertazzi and Margherita Bottero: "The procyclicality of foreign bank lending: Evidence from the global financial crisis"
  • Examined the procyclical nature of foreign bank lending and its implications for financial stability.
• Thomas Conefrey, Trevor Fitzpatrick and Kieran McQuinn: "Bank lending in a liberal credit market: Evidence from a small open economy"
  • Analyzed bank lending behavior in a liberal credit market, using a small open economy as a case study.
• Lea-Kathrin Heursen: "Lesson learnt? Financial leverage, macroprudential regulation and financial stability"
  • Highlighted the lessons learned from the crisis, focusing on financial leverage and the role of macroprudential regulation in maintaining stability.

4. Session 3: Regulation

Time: 16:30–18:00
Chair: Prof. David Llewellyn (Loughborough University)

• Shekhar Aiyar, Charles W. Calomiris and Tomasz Wieladek: “Does macropru leak? Evidence from a UK policy experiment”
  • Evaluated the effectiveness of macroprudential policies in the UK, questioning whether they lead to regulatory arbitrage.
• Rym Ayadi, Emrah Arbak and Willem Pieter De Groen: "Regulation of European banks and business models: Towards a new paradigm?"
  • Explored the need for a new regulatory paradigm in the European banking sector that aligns with business model innovations.
• Harald Hau, Sam Langfield and David Marques-Ibanez: "Bank ratings: What determines their quality?"
  • Analyzed the factors influencing the quality of bank ratings, including regulatory frameworks and market perception.

5. Session 4: The Financial Crisis and Shadow Banking

Time: 09:00–11:00
Chair: Prof. Javier De Andres (University of Oviedo)

• Enrico Perotti: "The roots of shadow banking"
  • Traced the origins and development of shadow banking systems.
• Glenn Schepens and Christoffer Kok: "Bank reactions after capital shortfalls"
  • Studied how banks responded to capital shortfalls, particularly in the aftermath of the crisis.
• Claudia M. Buch, Katja Neugebauer and Christoph Schröder: “Changing forces of gravity: How the crisis affected cross-border banking”
  • Analyzed the shift in cross-border banking dynamics due to the crisis.
• Giovanni di lasio and Federico Pierobon: "Shadow banking, sovereign risk and collective moral hazard"
  • Explored the link between shadow banking, sovereign risk, and moral hazard, emphasizing systemic risks.

6. Other Events

• Key Note Speech by Prof. Marco Onado (Bocconi University):
  • Topic: The profitability of the commercial banking business. Lessons from the Italian experience
  • Focused on profitability trends in commercial banking, using Italian banks as a case study.
• Closing Remarks: Delivered by EBA Executive Director Adam Farkas.
• Lunch Buffet: Provided at the venue.
• Dinner Buffet: Held on the EBA premises.

Key Takeaways

• Business Models: The crisis has prompted a re-evaluation of traditional banking business models, emphasizing the need for adaptation and innovation.
• Risk Management: Banks have shown herding behavior in liquidity risk, and there is a growing need for more sophisticated risk measurement frameworks.
• Regulation: There is a call for more effective macroprudential regulation and a new regulatory paradigm that better aligns with evolving banking practices.
• Shadow Banking: The crisis has exposed the systemic risks associated with shadow banking, particularly in relation to sovereign risk and moral hazard.
• Profitability: The profitability of commercial banks has been impacted, with regional case studies offering insights into recovery and resilience.

Conclusion

The workshop underscored the complex relationship between banking strategies, regulatory frameworks, and financial stability. It provided valuable insights into how banks have de-risked their operations, adapted to business cycles, and navigated the regulatory landscape in the post-crisis era. The discussions emphasized the importance of data-driven analysis, regulatory coherence, and systemic risk management in shaping the future of the banking sector.