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Please visit the new London FIT webpage.
The London FIT Network is an informal network of London based (linked) researchers with interests in Financial Intermediation Theory (broadly defined).
Its purpose is to foster interactions and to offer members a platform to exchange ideas, and an opportunity to informally present their work.
Current and past members are from the BoE, Birmingham, Bristol, Cambridge, Cass, Essex, Exeter, Imperial, LBS, LSE, Newcastle, Oxford, PSE, UCL, and Warwick.
Please contact me (f.malherbe@ucl.ac.uk) if you are interested.
Next event
Friday December 06, 2019 - London FIT Workshop at the Department of Economics, University College London (G26).
10:30 Ansgar Walther (Imperial): "Financial policy in an exuberant world"
11:30 Coffee break
12:00 Fred Malherbe (UCL): “Banking Unions and the International Spillovers of Bank Capital Regulation”
13:00 Adjourn
Past events
Friday October 25, 2019 - London FIT Workshop at the Department of Economics, University College London (B20 Jevons Lecture Theatre).
15.00 Xuan Wang (Oxford): When Do Currency Unions Benefit From Default?
16.00 Coffee break
16.20 Markus Parlasca (Oxford): Time Inconsistency in Stress Test Design
17.20 Adjourn
Friday October 12, 2018 - London FIT Workshop at the School of Management, University College London
14.30 Coffee, tea, and cookies
14.45 Shengxing Zhang (LSE): Dynamic Liquidity-Based Security Design
15.45 Coffee break
16.00 Jason Donaldson (WashU): The Opportunity Cost of Collateral
17.00 Drinks with a 360° view of London
April 13, 2017: Workshop at LBS (LT2)
14.00 Coffee, tea and cookies
14.15 Hongda Zhong (LSE): Debt Structure under Limited Commitment
15.00 Heski Bar-Isaac (LBS): Blockholder Voting
15.45 Coffee break
16.00 Kebin Ma (Warwick): Systemic Risk and Market Liquidity
16.45 Adjourn
December 19-20, 2016: Conference at the London Business School
EuroFIT Conference on Syndicated Loans
December 19, 2016
13.30 Registration
14.00 Mariassunta Giannetti (Stockholm School of Economics): Shock Propagation and Banking Structure (with Farzad Saidi)
Discussant: Sascha Steffen (University of Mannheim)
15.00 Maria Loumioti (MIT): Portfolio Performance Manipulation in Collateralized Loan Obligations (with Florin Vasvari)
Discussant: Cem Demiroglu (Koc University)
16.00 Tea and coffee break
16.30 Matt Gustafson (Penn State): Bank Monitoring: Evidence from Syndicated Loans (with Ivan Ivanov and Ralf Meisenzahl)
Discussant: Matt Plosser (NY Fed)
17.30 Keynote Speaker
Bo Becker (Stockholm School of Economics): Bad times, good credit (with Kasper Roszbach and Marieke Bos)
Discussant: Tony Saunders (NYU)
18.30 Adjourn
18.45 Reception drinks (everyone welcome - Garden Room)
19.30 Dinner (invitation only)
December 20, 2016
9.00 Tea, coffee and pastries
9.30 Peter Demerjian (University of Washington): Assessing the Accuracy of Forward-Looking Information in Debt Contract Negotiations: Management Forecast Accuracy and Private Loans (with John Donovan and Jared Jennings)
Discussant: Bugra Ozel (UT Dallas)
10.30 Tea and coffee break
11.00 Glen Schepens (ECB): Life below zero: Bank lending under negative policy rates (with Florian Heider and Farzad Saidi)
Discussant: Ralf Meisenzahl (Federal Reserve Board)
12.00 Lunch
13.00 Andrew Bird (Carnegie Mellon): Short-termism Spillovers from the Financial Industry (with Aytekin Ertan, Stephen Karolyi, and Tom Ruchti)
Discussant: Ningzhong Li (UT Dallas)
14.00 Tim Eisert (Erasmus University Rotterdam): Whatever it takes: The real effects of unconventional monetary policy (with Viral Acharya, Christian Eufinger, and Christian Hirsch)
Discussant: Tobias Berg (Frankfurt School of Finance & Management)
15.00 Adjourn
October 21, 2016: Workshop at LBS (LT10)
14.20 Coffee and Tea
14.30 Frederic Malherbe (LBS): A positive analysis of bank behaviour under capital requirements (with Saleem Bahaj)
15.30 Peter Zimmerman (Oxford): Relationship lending when banks are fragile (with Alan Morrison and Joel Shapiro)
16.30 Mike Mariathasan (KU Leuven): Rational Inattention and Counter-Cyclical Lending standards (with Sergey Zhuk)
17.30 Adjourn
May 13, 2016: Workshop at LBS
15.00 Coffee and Tea
15.15 Joel Shapiro (Said Business School): Credit Ratings and New Information
16.00 Q&A and comments
16.15 Kebin Ma (Warwick Business School): Bank Information Sharing and Liquidity Risk
17.00 Q&A and comments
17.15 Adjourn
December 14, 2015: JOB MARKET teaser session at LBS
Venue: LBS – Room SG06
10.30 Coffee and tea
10.40 Pedro Pinto (LSE): Securitization, Non-Recourse Loans and House Prices
11.30 Ansgar Walther (Oxford): Crowding out Disclosure: Amplification and Stress Test Design
12.20 Adjourn
The job-market teaser concept is the following:
Presenters are students on the market this year
With a job market paper (at least broadly) related to Financial Intermediation Theory
These are short presentations (45 min) that should follow some rules
Be concise and go to the point as quickly as possible
No more than 15 slides (which should not be too wordy)
Slides entitled as (or consisting of what) follows are not allowed:
Literature review
Preview of the results
Outline
Every variable that is shown should be named
November 13, 2015: Workshop at LBS (Room A125)
14:30 Tea, coffee, cookies
14:45 Rish Singhania (Exeter): Bank Deposit Insurance in the Presence of Uninsured Financial Institutions (with Stephen LeRoy)
(45 min + 15 min Q&A / discussion)
15:45 Break
16:00 Shengxing Zhang (LSE): Endogenous Market Making and Network Formation (with Briana Chang)
(45 min + 15 min Q&A / discussion)
17.00 Adjourn
October 9, 2015: Workshop at LBS
14.00 Tea and coffee
14.15 Martin Oehmke (Columbia and LSE): Bank Resolution and the Structure of Global Banks (with Patrick Bolton)
15.30 Coffee break
15.45 Christian Julliard (LSE): Information Asymmetries, Volatility, Liquidity, and the Tobin Tax (with Albina Danilova)
17.00 Adjourn
May 15, 2015: Workshop at Imperial
14.00 Registration
14.15 Anatoli Segura (Bank of Italy): Off-balance sheet vehicles, voluntary support and bank reputation
15.30 Coffee break
15.45 Douglas Gale (Imperial): A Model of Bank Capital in which Deposits Have Social Value
17.00 Brannon Morrison (LBS, ex FDIC): The FDIC during the crisis (provisional title)
18.00 Reception (Ognisko restaurant, Exhibition Road)
April 17, 2015: Workshop at LBS
14.15 Tea and coffee
14.30 Ansgar Walther (Oxford): Rules vs. discretion in bank resolution (with Lucy White)
15.30 Discussion
15.45 Coffee break
16.00 Rafael Matta (Amsterdam): Insecure Debt (with Enrico Perotti)
17.00 Discussion
17.15 Drinks (Windsor Castle)
December 11-12, 2014: EuroFIT Conference at LBS (click here)
November 28, 2014: JOB MARKET TEASER session at Cass Business School
14.00 Tea and coffee
14.15 Kebin Ma (Warwick): Self-fulfilling Fire Sales, Bank Runs and Contagion: Implications for Bank Capital and Regulatory Transparency
15.15 Break
15.30 JM Teaser 1: Guillaume Villemey (Sciences-Po): Derivatives and Reisk Management by Commercial Banks
16.15 JM Teaser 2: Di Gong (Tilburg): Systemic Risk-taking at Banks: Evidences from the pricing of syndicated loans
17.00 Adjourn
October 3, 2014: Workshop at London Business School (room ELG001, E Wing)
14.45 Tea and coffee
15.00 Shengxing Zhang (LSE): Collateral Risk, Repo Rollover and Shadow Banking
16.00 Ilaf Scheikh Elard (Oxford): Capital Repatriation, Openness and Financial Crisis
17.00 Adjourn
May 30, 2014: Workshop at London Business School (Room PLG03)
14.30 Coffee
14.50 Christoph Bertsch (Sveriges Riksbank): A detrimental feedback loop: deleveraging and adverse selection
15.40 Christian Laux (WU Vienna): Regulating Bank CEO Compensation and Active Boards
16.30 Coffee break
16.40 Maxim Nikitin (ICEF Moscow): Globalization, Exchange Rate Regimes and Financial Contagion
17.30 Adjourn
December 13, 2013 (afternoon): Job-market teaser session at LBS.
14.20 Coffee
14.30 Jing Zeng (LSE): Contingent Capital Structure
15.15 Jason Donaldson (LSE): Procyclical Promises
16.00 John Kuong (LSE): Self-fulfilling Fire Sales: Fragility of Collateralised Short-term Debt Markets
16.45 Adjourn
November 29, 2013: Workshop at London Business School (Room PLG03)
2.15 Welcome coffee
2.30 Vania Stavrakeva (LBS): Optimal Bank Regulation and Fiscal Capacity
3.30 Coffee break
3.45 Afrasiab Mirza (Birmingham): Dynamic Prudential Regulation
4.45 Adjourn
September 27, 2013: Workshop at London Business School (Room LGH001)
9:45 Welcome coffee
10:00 Farzad Saidi (Cambridge): Information Sensitivity and Scope of Financial Intermediation: What are the Real Effects
11:00 Coffee break
11:15 David Skeie (NY Fed): Federal Reserve Tools for Managing Rates and Reserves
12:15 Adjourn
May 3, 2013: Workshop at London Business School (Room PLG03)
9:45 Welcome coffee
10:00 Joel Shapiro (Oxford): A Mechanism for LIBOR
10:50 Coffee break
11:00 Max Bruche (Cass): Debt Maturity and the Liquidity of Secondary Debt Markets
11:50 Adjourn
March 8, 2013: Workshop at London Business School (Room SG06)
9.30 Welcome coffee
9.45 Ansgar Walther (Cambridge): Capital and Liquidity Regulation
10.30 Coffee break
10.45 Jason Donaldson (LSE): Investment Mandates and the Downside of Precise Credit Ratings (with Giorgia Piacentino, LSE)
11.30 Adjourn
Conference
“The Macroeconomics of Financial Stability”
At the London Business School on 4 December 2012. Click here for the programme.
November 30, 2012: Workshop at London Business School (Room PLG03)
14:00 Max Bruche (Cass): Preventing Zombie Lending
14:45 Ansgar Walther (Cambridge): Capital and Liquidity Regulation (Job market teaser)
15:30 Coffee break
16:00 Toni Ahnert (LSE): Crisis, Coordination, and Contagion (Job market teaser)
16:45 Christoph Bertsch (UCL): A model of liquidity provision with adverse selection (Job market teaser)
17:30 Adjourn
17:30 Drinks at the Windsor Castle
October 12, 2012: Workshop at London Business School (room E202)
09:45 Welcome coffee
10:00 Jing Zeng (LSE): Contingent Capital and Bank Regulation
10:40 Q&A
11:00 Ana Babus (Imperial): Trading and Information Diffusion in Over-the-Counter Markets
11:40 Q&A
May 11, 2012: Workshop at London Business School
"Communication in Banking Crisis"
09:45 Welcome coffee
10:00 Joel Shapiro (Oxford): Information Management in Banking Crises
11:00 Questions and answers
March 2, 2012: Workshop at London Business School
"Financial conglomerates and risk taking"
09:45 Welcome coffee
10:00 Christoph Bertsch (UCL): The banker in a prisoner's dilemma
11:00 Discussion by Jing Zeng (LSE)
11:30 Questions and answers
January 20, 2012: Workshop at London Business School
"Vickers Report / Retail Bank Ring Fence"
09:45 Welcome and coffee
10:00 Christoph Bertsch (UCL): Overview of the Vickers Ring-fencing proposal
10:30 Fred Malherbe (LBS): Ring-fencing the Banks (work in progress)
11:00 Discussion
Additional Material:
The Vickers Report
BoE's Financial Stability Report (December 2011, see BOX 3, p54)
November 10, 2011: Workshop at London Business School
"Liquidity and Capital Requirements"
09:45 Welcome and coffee
10:00 Toni Ahnert (LSE): Systemic Liquidity Requirements (with Benjamin Nelson, BoE)
10:40 Discussion by Christoph Bertsch (UCL)
11:00 General discussion and comments
11:30 Fred Malherbe (LBS): Dynamic Macro-prudential Policy (work in progress)
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