The workshop was organized in collaboration between Bank of Finland and Banco de Portugal.
PROGRAM
Thursday, 23 November 2023
13.30–14.00 Opening remarks
Katja Taipalus, Head of Financial Stability and Statistics Department, Suomen Pankki
14.00–15.30 Session 1: Transmission of macroprudential policy I
Chair: Mikael Juselius, Suomen Pankki
Mortgage Borrowing Caps: Leverage, Default, and Welfare
Download the presentation.
João G. Oliveira, Bank of England, Leonor Queiró, Banco de Portugal
Discussant: Petros Migiakis, Bank of Greece
Macroprudential Policy and Income Inequality: The Trade-off Between Crisis Prevention and Credit Redistribution
Download the presentation.
Martin Hodula, Czech National Bank, Jan Janku, Czech National Bank, Simona Malovaná, Czech National Bank
Discussant: Stine Louise von Rüden, Danmarks Nationalbank
15.30–16.00 Coffee break
16.00–17.30 Session 2: Supervision and regulation
Chair: David Aikman, King’s College London
Risk Retention in the European Securitization Market: Skimmed by the Skin-in-the-Game Methods?
Download the presentation.
Vivian M. van Breemen, European Central Bank, Claudia Schwarz, European Central Bank, Dennis Vink, European Central Bank
Discussant: Rhiannon Sowerbutts, Bank of England
Same Same but Different – Credit Risk Provisioning under IFRS 9 aper 12
Download the presentation.
Markus Behn, European Central Bank, Cyril Couaillier, European Central Bank
Discussant: Simona Malovana, Czech National Bank
FRIDAY, 24 November 2023
09.00–10.30 Session 3: Bank capital regulation
Chair: Mikael Juselius, Suomen Pankki
Macroprudential policy leakage through firms
Download the presentation.
Björn Imbierowicz, Deutsche Bundesbank, Axel Loeffler, Deutsche Bundesbank, Steven Ongena, University of Zurich, Ursula Vogel, European Central Bank
The state-dependent impact of changes in bank capital requirements
Download the presentation.
Jan Hannes Lang, European Central Bank, Dominik Menno, Deutsche Bundesbank
Discussant: Chiara Punzo, Bank of England
10.30–10.45 Coffee break
10.45–12.15 Session 4: Informational frictions and banks
Chair: Melina Papoutsi, European Central Bank
Countercyclical credit market tightness and macroprudential regulation
Download the presentation.
Markus Haavio, Bank of Finland
Discussant: Razvan Vlahu, De Nederlandsche Bank
Bank restructuring under asymmetric information: The role of bad loan disposals
Download the presentation.
Anatoli Segura, Banca d’Italia, Javier Suarez, CEMFI
Discussant: Jorge Abad, Banco de España
12.15–13.15 Lunch
13.15–14.45 Session 5: Capital buffers
Chair: Björn Imbierowicz, Deutsche Bundesbank
Do banks' voluntary buffers matter? The effectiveness of macroprudential policies on well capitalised banks
Download the presentation.
Ugo Albertazzi, European Central Bank, Aurea Ponte Marques, European Central Bank, Giulia Leila Travaglini, European Central Bank, Giuseppe Cappelletti, European Central Bank
Discussant: Katja Neugebauer, Banco de Portugal
To use or not to use? Capital buffers and lending during a crisis
Download the presentation.
Diogo Serra, Banco de Portugal, Lucas Avezum, Banco de Portugal, Vítor Oliveira, Banco de Portugal
Discussant: Aurea Ponte Marques, European Central Bank
14.45–15.00 Coffee break
15.00–16.15 Keynote speech - Interest Rates, Market Power, and Financial Stability
Rafael Repullo, CEMFI
Download the presentation.
16.15–17.45 Session 6: Systemic risk and contagion
Chair: Maria Teresa Gonzalez Perez, Banco de España
Contagion from market price impact: a price-at-risk perspective
Download the presentation.
Gábor Fukker, European Central Bank, Michiel Kaijser, De Nederlandsche Bank, Luca Mingarelli, European Central Bank, Matthias Sydow, European Central Bank
Discussant: Norbert Metiu, Deutsche Bundesbank
Quantifying Systemic Risk in the Presence of Unlisted Banks: Application to the European Banking Sector
Download the presentation.
Daniel Dimitrov, De Nederlandsche Bank, Sweder van Wijnbergen, University Of Amsterdam
Discussant: Philipp König, Deutsche Bundesbank
SATURDAY, 25 November 2023
9.00–10.30 Session 7: Limits on lenders and borrowers
Chair: Roman Vasil, Národná banka Slovenska
How do Banks Respond to Limits on Maturity Transformation?
Download the presentation.
Pierluigi Bologna, Banca d’Italia, Maddalena Galardo, Banca d’Italia
Discussant: Glenn Schepens, European Central Bank
Measuring the effects of borrower-based policies on new housing loans
Download the presentation.
Merike Kukk, Eesti Pank, Natalia Levenko, Eesti Pank, Nicolas Reigl, Eesti Pank
Discussant: Ursula Vogel, Deutsche Bundesbank
10.30–10.45 Coffee break
10.45–12.15 Session 8: Transmission of macroprudential policy II
Chair: Diana Bonfim, Banco de Portugal
The Transmission of Macroprudential Policy in the Tails: Evidence from a Narrative Approach
Download the presenation.
Alvaro Fernández-Gallardo, Universidad Alicante, Simon Lloyd, Bank of England, Ed Manuel, Bank of England
Discussant: Michal Franta, Czech National Bank
Leakages from macroprudential regulations: The case of household-specific tools and corporate credit
Download the presentation.
Apoorv Bhargava, Breakout Capital, Lucyna Gornicka, European Central Bank, Peichu Xie, International Monetary Fund
Discussant: Dennis Reinhardt, Bank of England
12.15-13.15 Lunch
13.15 End of the program