Research Events

Exploring Conventional Bank Funding Regimes in an Unconventional World

July 18 – 19, 2024

Dallas

Co-sponsored by the Federal Reserve Banks of Dallas and Atlanta

In the spring of 2023, the United States experienced a series of depositor runs and subsequent bank failures. Uninsured depositors withdrew funds in response to concerns about the solvency of some banks at a speed that was unprecedented in earlier bank run episodes. Some banks also experienced challenges accessing traditional liquidity resources. These events may suggest that existing liquidity frameworks have not kept pace with the changing needs of the U.S. banking system.

Should banks change the way they provision liquidity given recent observations that deposits can be moved almost instantaneously?
What role do deposit insurance and liquidity facilities play in sustaining confidence in the banking system?

To address these and other questions, the Federal Reserve Banks of Dallas and Atlanta hosted a conference to bring together academics, bankers and policymakers to examine the events of spring 2023 from a variety of perspectives to distill lessons for the future and inform future research, drawing on the existing academic literature and U.S. and international experience.

Day 1—July 18

Day 2—July 19

Agenda

Thursday, July 18
12:00 p.m.	Registration and lunch
12:40 p.m.	Welcome Mark Wynne, Federal Reserve Bank of Dallas
12:45 p.m.	Opening remarks Lorie Logan, Federal Reserve Bank of Dallas
1:00 p.m.	Session 1: A look back at the regional banking stresses of 2023 Chair: Arthur Lindo, Federal Reserve Board of Governors Stephen Cecchetti, Brandeis University Stijn Claessens, Yale Meg Tahyar, Davis Polk
2:15 p.m.	Session 2: Pillars of trust: Past, present and future of financial crises Chair: Ellis Tallman, Federal Reserve Bank of Cleveland Jonathan Rose, Federal Reserve Bank of Chicago Paul Schmelzing, Boston College Hal Scott, Harvard Law School
3:30 p.m.	Break
3:45 p.m.	Session 3: Moral hazard and deposit insurance in the modern world Chair: Ajay Palvia, Federal Deposit Insurance Corporation Greg Baer, Bank Policy Institute Prasad Krishnamurthy, University of California at Berkeley Dana Peterson, The Conference Board
5:00 p.m.	Break
5:05 p.m.	Fireside chat Mary Daly, Federal Reserve Bank of San Francisco Jeanna Smialek, The New York Times
5:35 p.m.	Reception
6:15 p.m.	Dinner
6:45 p.m.	Keynote address Michelle Bowman, Federal Reserve Board of Governors
7:15 p.m.	Adjourn
Friday, July 19
7:45 a.m.	Breakfast
8:30 a.m.	Keynote address Agustín Carstens, Bank for International Settlements
9:00 a.m.	Session 4: The discount window and the future of contingent liquidity Chair: Sam Schulhofer-Wohl, Federal Reserve Bank of Dallas Susan McLaughlin, Yale Patricia Mosser, Columbia University Bill Nelson, Bank Policy Institute
10:15 a.m.	Break
10:30 a.m.	Academic/banker/policymaker roundtable: Where next? Chair: Charles Cooper, Texas Department of Banking Byron Bexley, American Bank Phil Green, Frost Bank Randall Kroszner, University of Chicago Travis Machen, Scotiabank
12:00 p.m.	Closing remarks Raphael Bostic, Federal Reserve Bank of Atlanta
12:15 p.m.	Box lunch and conference close

For more information

Contact Sharon Wallace at sharon.wallace@dal.frb.org.