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The New York City Area Conference on Financial Intermediation

November 18, 2005
Leonard N. Stern School of Business
New York University

A conference jointly sponsored by the
Federal Reserve Bank of New York and the Salomon Center at NYU Stern

Location:
New York University
Stern School of Business
Henry Kaufman Management Center
44 West 4th Street, New York City
Main Auditorium

Registration Details:
Attendance is free of charge but seating is strictly limited and so registration is required. 
To register, please send an email to salomon@stern.nyu.edu before November 1, 2005. 
We aim to confirm your registration by November 1, 2005.

Program:

8:00    Registration and continental breakfast


8:50    Opening Remarks
Matthew Richardson, Director, NYU Salomon Center


9:00-12:30    MORNING SESSION
Chair: Anthony Saunders, New York University


9:00    Adam Ashcraft, Federal Reserve Bank of New York
Hoyt Bleakley, University of California at San Diego
”On the Market Discipline of Informationally-Opaque Firms: Evidence from Bank Borrowers in the Federal Funds Market” 
Discussant: Kenneth Ayotte, Columbia University


10:00    David Gaddis Ross, New York University
“On Bankers and their Incentives”
Discussant: Donald Morgan, Federal Reserve Bank of New York


11:00    Refreshment break


11:30    João A.C. Santos, Federal Reserve Bank of New York
Andrew Winton, University of Minnesota
“Bank Loans, Bonds, and Information Monopolies Across the Business Cycle”
Discussant: Enrichetta Ravina, New York University


12:30    Lunch


2:00-5:30    AFTERNOON SESSION
Chair: Ingo Walter, New York University


2:00    Linda Allen, Baruch College, CUNY
Aron A. Gottesman, Pace University
“The Informational Efficiency of the Equity Market as Compared to the Syndicated Bank Loan Market”
Discussant: James Vickery, Federal Reserve Bank of New York


3:00    Yingjin Hila Gan, University of Pennsylvania
Christopher Mayer, Columbia University and NBER
“Conflicts of Interest and Securitization”
Discussant: Harrison Hong, Princeton University


4:00    Refreshment Break


4:30    Victoria Ivashina, New York University
“The Effects of Syndicate Structure on Loan Spreads”
Discussant: Daniel Paravisini, Columbia University


5:30    Drinks Reception