3rd BIS Consultative Council for the Americas conference on "Financial stability, financial regulation and monetary policy"

(last update 18 June)


Paper presentations: 20 minutes - Discussant comments: 15 minutes - Open discussion: 15 minutes


Thursday 26 April


Welcome remarks 


I. Macroprudential policy tools

(Chair Adriana Soares Sales, Central Bank of Brazil)

  1. "In the quest of macroprudential policy tools" by Daniel Sámano Peñaloza" (Bank of Mexico). (Paper) (Presentation)

      Discussant: Carlos Montoro, Bank for International Settlements. (Presentation)

  2. "Interbank market and macroprudential tools in a DSGE model" by César Carrera and Hugo Vega (Central Reserve Bank of Peru). (Paper) (Presentation)

      Discussant: Skander van den Heuvel, Board of Governors of the Federal Reserve System (Presentation)


II. Banking system structure

(Chair Luis Herrera, Central Bank of Chile)

  3. "The cyclical behaviour of bank capital buffers in an emerging economy: size does matter" by Andrés Felipe García-Suaza (Universidad del Rosario), José E. Gómez-González, Andrés Murcia Pabón, and Fernando Tenjo-Galarza (Bank of the Republic - Colombia). (Paper) (Presentation)

      Discussant: Emanuel Kohlscheen, Central Bank of Brazil. (Presentation)

  4. "The relationship between banking market competition and risk-taking: do size and capitalization matter?" by Benjamin M. Tabak (Central Bank of Brazil), Dimas M. Fazio (Universidade de São Paulo) and Daniel O. Cajueiro (Universidade de Brasília). (Paper) (Presentation)

      Discussant: José Eduardo Gómez González (Bank of the Republic - Colombia). (Presentation notes)


Friday 27 April 


III. International spillovers and the financial system

(Chair Alberto Torres, Bank of Mexico)


  5. "International business cycles and financial frictions" by Wen Yao (Bank of Canada). (Paper) (Presentation)

      Discussant: Michael Devereux, University of British Columbia. (Presentation)

  6. "When the rivers run dry: liquidity and the use of wholesale funds in the transmission of the U.S. subprime crisis" by Claudio Raddatz (Central Bank of Chile). (Paper) (Presentation)

      Discussant: Nicola Cetorelli, Federal Reserve Bank of New York. (Presentation)


  7. "The cross-market spillover of economic shocks through multi-market banks" by José Berrospide, Lamont Black (Board of Governors of the Federal Reserve System), and William Keeton (Federal Reserve Bank of Kansas City). (Paper) (Presentation)

      Discussant: Günseli Tümer-Alkan, VU Amsterdam (Presentation)


IV. Concluding session

   8. Overview and Discussion (Stephen G. Cecchetti, BIS) (Paper)