48th Annual Conference on Bank Structure and Competition
In the aftermath of the recent financial crisis, there have been calls to increase both regulatory scrutiny and capital requirements in the banking industry. Many would argue that, prior to the crisis, banks were required to hold less capital than the markets would require absent a government safety net. In the U.S., the push for reform led to the passage of the Dodd–Frank Act in 2010. The Basel Committee responded with a proposal to increase capital and liquidity requirements. As new regulations are being implemented, many are calling for additional capital in the industry and further capital surcharges for individual banks in relation to their systemic importance. Some argue that the new regulations are excessive, imposing burdens that exceed the benefits from the additional capital. Others argue that the additional capital is necessary, will not be expensive for the industry and will have little impact on the ability of banks to intermediate.
At the conference issues were debated associated with proposals to increase bank capital. Are banks undercapitalized in the current environment? What are the implications of increasing bank capital for bank lending and bank risk-taking? How will these developments affect the competitiveness of the industry? This is a topic that will only increase in importance over the coming months.
The major component of the conference begins Thursday morning. To address the questions we have raised this year, and related issues, we will bring together industry leaders, scholars and regulatory authorities.
Conference Highlights
- Ben S. Bernanke, Chairman, Board of Governors of the Federal Reserve System
- Martin J. Gruenberg, Acting Chairman, U.S. Federal Deposit Insurance Corporation
- Eugene Ludwig, Founder and Chief Executive Officer, Promontory Financial Group LLC
- Panel of Industry Experts Addressing Bank Capital - How much Is Enough?
- Panel Discussing Mortgage Financing beyond the GSEs
- Panel Discussing Macroprudential Regulatory Policy
- Panel of Experts Discussing Bank Stress Tests
Ben S. Bernanke began a second term as Chairman of the Board of Governors of the Federal Reserve System on February 1, 2010. Bernanke also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body. He originally took office as Chairman on February 1, 2006, when he also began a 14-year term as a member of the Board. His second term as Chairman ends January 31, 2014, and his term as a Board member ends January 31, 2020.
Before his appointment as Chairman, Bernanke was Chairman of the President's Council of Economic Advisers, from June 2005 to January 2006.
Martin J. Gruenberg has served on the Federal Deposit Insurance Corporation's (FDIC) Board of Directors since August 22, 2005. As Vice Chairman of the Board, he assumed the role of Acting Chairman on July 8, 2011, upon Sheila C. Bair's departure as FDIC Chairman. He previously served as Acting Chairman from November 15, 2005, to June 26, 2006.
Gruenberg joined the FDIC Board after broad congressional experience in the financial services and regulatory areas. He served as Senior Counsel to Senator Paul S. Sarbanes (D-MD) on the staff of the Senate Committee on Banking, Housing, and Urban Affairs from 1993 to 2005. Gruenberg advised the Senator on issues of domestic and international financial regulation, monetary policy and trade. He also served as Staff Director of the Banking Committee's Subcommittee on International Finance and Monetary Policy from 1987 to 1992. Major legislation in which Gruenberg played an active role during his service on the Committee includes the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA); the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA); the Gramm-Leach-Bliley Act; and the Sarbanes-Oxley Act of 2002.
Since November 2, 2007, Gruenberg has also served as Chairman of the Executive Council and President of the International Association of Deposit Insurers (IADI).
Gruenberg holds an A.B. from Princeton University, Woodrow Wilson School of Public and International Affairs nd a a J.D. from Case Western Reserve Law School.
Please note that the major component of the conference begins Thursday morning with Chairman Bernanke's keynote address. Although registrants are invited to attend all sessions, the Wednesday sessions are directed toward a more technical research audience and will be of interest to academics and financial research economists.
Conference concludes at 3:30 p.m.
Last Updated: 05/17/2012
