Opening Remarks: Jan Pieter Krahnen (Goethe University Frankfurt, CREDIT 2014 Programme Chair)

• Key-note talk: Countering Systemic Risk through Banking Regulation and Other Means
  Franklin Allen (Wharton University of Pennsylvania, Philadelphia & Imperial College London)

• Did Banks’ Use of Credit Derivatives Improve Their (Real) Capital Adequacy?
  Susan Chenyu Shan (Shanghai Jiao Tong University), Dragon Yongjun Tang (The University of Hong Kong) and Hong Yan (University of South Carolina, Columbia & Shanghai Jiao Tong University)
  Discussant: Stephen Schaefer (London Business School)

• Incentive Pay and Bank Risk-Taking: Evidence from Austrian, German, and Swiss Banks
  Matthias Efing (University of Geneva & Swiss Finance Institute), Harald Hau (University of Geneva & Swiss Finance Institute), Patrick Kampkötter (University of Cologne) and Johannes Steinbrecher (Ifo Institute Branch Dresden)
  Discussant: Marcella Lucchetta (Ca' Foscari University of Venice)

• Do LTV and DSTI Caps Make Banks More Resilient?
  Michel Dietsch (University of Strasbourg & Prudential Supervision and Resolution Authority - Banque de France) and Cécile Welter-Nicol (Prudential Supervision and Resolution Authority - Banque de France)
  Discussant: Paul Schempp (University of Bonn & Max Planck Institute for Research on Collective Goods)

• Credit Growth and Bank Capital Requirements: Binding or Not?
  Claire Labonne (Prudential Supervision and Resolution Authority - Banque de France) and Gildas Lamé (INSEE-CREST, Paris)
  Discussant: Andrea Giacomelli (GRETA, Venice)

• Conditional Accounting Conservatism and Bank Risk Taking
  Manuel Illueca (University Jaume I, Castellón de la Plana), Lars Norden (Erasmus University Rotterdam) and Gregory F. Udell (Indiana University, Bloomington)
  Discussant: Umberto Cherubini (University of Bologna)

• A Dynamic Model of Banking with Uninsurable Risks and Regulatory Constraints
  Jochen Mankart (Deutche Bundesbank), Alexander Michaelides (Imperial College Business School, London, CEPR, London & NETSPAR, Tilburg) and Spyros Pagratis (Athens University of Economics and Business)
  Discussant: Arjen Siegmann (Vrije Universiteit, Amsterdam)

• Higher Bank Capital Requirements and Mortgage Pricing: Evidence from the Countercyclical Capital Buffer
  Christoph Basten (ETH Zurich & Swiss Financial Market Supervisory Authority FINMA) and Catherine Koch (Bank for International Settlements, Basel)
  Discussant: Jongsub Lee (University of Florida, Gainesville)

• The Limits of Model-Based Regulation
  Markus Behn (Bonn University & Deutsche Bundesbank), Rainer Haselmann (Bonn University) and Vikrant Vig (London Business School)
  Discussant: Steven Ongena (University of Zurich)

• Fire-Sale Spillovers and Systemic Risk
  Fernando Duarte (Federal Reserve Bank of New York) and Thomas M. Eisenbach (Federal Reserve Bank of New York)
  Discussant: Harald Scheule (University of Technology, Sydney)

• The Removal of Credit Ratings from Capital Regulation: Implications for Systemic Risk
  Kathleen Weiss Hanley (University of Maryland, College Park) and Stanislava Nikolova (University of Nebraska, Lincoln)
  Discussant: Giovanni Zambruno (Milano Bicocca University)

• Network Connectivity and Systematic Risk
  Monica Billio (Ca’ Foscari University of Venice), Massimilano Caporin (University of Padua), Roberto Panzica (Goethe University Frankfurt) and Loriana Pelizzon (Ca’ Foscari University of Venice & Goethe University Frankfurt)
  Discussant: Simonetta Iannotti (Bank of International Settlements, Basel)

• Key-note talk: Equilibrium Fast Trading
  Thierry Foucault (HEC Paris)

• Central Clearing and Collateral Demand
  Darrell Duffie (Stanford University & National Bureau of Economic Research), Martin Scheicher (European Systemic Risk Board) and Guillaume Vuillemey (Sciences-Po Paris & Banque de France)
  Discussant: Mario Bellia (Ca’ Foscari University of Venice & Goethe University Frankfurt)

• Sand in the Chips? Evidence on Taxing Transactions in Modern Markets
  Jean-Edouard Colliard (European Central Bank) and Peter Hoffmann (European Central Bank)
  Discussant: Rémy Praz (EPFL, Lausanne)

• Did Liquidity Providers Become Liquidity Seekers? Evidence the CDS-Bond Basis During the 2008 Financial Crisis
  Jaewon Choi (University of Illinois at Urbana-Champaign) and Or Shachar (Federal Reserve Bank of New York)
  Discussant: Alessandro Fontana (European Commission Joint Research Centre)

• Credit and Liquidity in Interbank Rates: a Quadratic Approach
  Simon Dubecq (European Central Bank & CREST), Alain Monfort (CREST, Banque de France & Maastricht University), Jean-Paul Renne (Banque de France) and Guillaume Roussellet (Banque de France, CREST & CEREMADE, Paris)
  Discussant: Jens Dick-Nielsen (Copenhagen Business School)

• Liquidity Risk and Distressed Equity
  Mamdouh Medhat (Copenhagen Business School)
  Discussant: Jean-Cyprien Héam (Prudential Supervision and Resolution Authority - Banque de France & CREST)

• Supervisory Incentives in a Banking Union
  Elena Carletti (Bocconi University, CEPR, London & IGIER, Milan), Giovanni Dell'Ariccia (International Monetary Fund & CEPR, London) and Robert Marquez (University of California, Davis)
  Discussant: Loriana Pelizzon (Ca’ Foscari University of Venice & Goethe University Frankfurt)

• The Political Economy of Bank Bailouts
  Markus Behn (Bonn University & Deutsche Bundesbank), Rainer Haselmann (Bonn University), Thomas Kick (Deutsche Bundesbank) and Vikrant Vig (London Business School)
  Discussant: Nadia Linciano (CONSOB)

• Key-note talk: Ethics in Finance: a Banking Supervisor's Perspective
  Ignazio Angeloni (European Central Bank)

Participants:

• Davide Alfonsi (Head of Risk Management, Intesa Sanpaolo)
• Franklin Allen (Wharton University of Pennsylvania, Philadelphia & Imperial College London)
• Ignazio Angeloni (ECB representative of the Supervisory Board of the Single Supervisory Mechanism, Frankfurt)
• Andrea Giacomelli (partner of GRETA Associati, Venice)
• Pier Luigi Gilibert (Chief Executive of the European Investment Fund, Luxembourg)
• Jan Pieter Krahnen (Goethe University Frankfurt & CREDIT 2014 Programme Chair)