International Banking Networks: Sources of Stability or Instability? Evidence from the Past and Present

Jointly organized by the House of Finance, the Research Center SAFE and the Institute for Banking and Financial History (IBF)

22. Apr 2021

Zur Veranstaltung

| Program |

13:00 Welcome and Introduction
Kim Comperl (Metzler Bank)
Wolfgang König (House of Finance, Goethe University)

13:10 Keynote: Global Banking and Pandemic Recovery
Linda S. Goldberg (Federal Reserve Bank New York)

13:30 Lessons from pre-1914 and the 1930s: Stabilizing and Destabilizing Effects of Banking Networks

International Banks: Re-Agents of Globalization?
Wilfried Kisling (WU Vienna and University of Oxford), Christopher Meissner (University of California, Davis), Chenzi Xu (Stanford Graduate Business School)

The Organisation and Resilience of the Global Money Market During the First Globalization
Olivier Accominotti (London School of Economics) joint with Delio Lucena-Piquero and
Stefano Ugolini

Domestic and International Crises in the Early 1930s and Conditions in the US Money Market and Treasury Bond Market
Mark Carlson (Board of Governors of the Federal Reserve System)




Hot Money Inflows and Bank Risk-taking: Germany from the 1920s to the Great Depression
Stephanie Collet (Deutsche Bundesbank) and Natacha Postel-Vinay (London School of
Economics)

Chair: Catherine Schenk (Oxford University and Goethe University)

15:00 | Liquidity Requirements: Banking Networks and Financial Stability

Global Interbank Networks and the Retreat of Correspondent Banking
Goetz von Peter and Tara Rice (Bank for International Settlements)

Swap lines in the Global Financial Safety Net
Hannah Engljähringer (Sant’Anna University Pisa), Beatrice Scheubel (European Central
Bank) and Alice Schwenninger (Banque de France)

Cross-border Links between Banks and Non-bank Financial Institutions
Iñaki Aldasoro (Bank for International Settlements)

Discussant: Loriana Pelizzon (Leibniz Institute SAFE and Goethe University, Frankfurt)
Chair: Rainer Klump (Goethe University, Frankfurt)

16:30 Keynote: Financial Stability Risks in Covid19 Times
Claudia Buch (Vice President, Deutsche Bundesbank)

17:00 Concluding Remarks

Catherine Schenk (University of Oxford and Goethe University)

Referenten

Olivier Accominotti
Olivier Accominotti is an Associate Professor of Economic History at the London School of Economics and Political Science (LSE) and a Research Fellow at the Centre of Economic Policy Research. He received a PhD in Economics from Sciences Po Paris and was previously a Research Fellow at Princeton University’s Niehaus Center for Globalization and Governance. His research interests cover international finance and economic history and he has published extensively in these areas.
Iñaki Aldasoro
Iñaki Aldasoro works as an economist at the Monetary and Economic Department of the BIS since October 2016. Previously, he worked as a consultant for the European Systemic Risk Board (2015-16). Iñaki holds a PhD in economics from Goethe University Frankfurt, and also did studies at the Kiel Institute (ASP 2008-09) and the University of Buenos Aires (bachelor's and master's in economics).
Claudia Buch
Professor Claudia Buch, who joined the Bundesbank in 2014, is Vice-President of the Deutsche Bundesbank and head of its Directorates General Financial Stability, Statistics, and Internal Audit. She is the Bundesbank’s G20 and G7 Central Bank Deputy and a member of the German Financial Stability Committee. Before joining the Bundesbank, Claudia Buch was President of the Halle Institute for Economic Research and Professor of Economics at Otto von Guericke University, Magdeburg and Eberhard Karls University, Tübingen. Claudia Buch was awarded a PhD and her habilitation (post-doctorate degree) by the University of Kiel and studied Economics at the University of Bonn.
Mark Carlson
Mark Carlson is a Senior Economic Project Manager in the Division of Monetary Affairs at the Board of Governors of the Federal Reserve System. His research focuses on understanding financial crises, particularly historical episodes such as the banking crises of the 1930s and the panics of the National Banking Era, and the impact of such crises on financial intermediation. He received his doctorate from the University of California, Berkeley.
Stephanie Collet
Stephanie Collet is an Economist and Financial Historian at the Deutsche Bundesbank. Her research focuses sovereign debt, corporate finance and banking from a historical perspective. Before joining the Bundesbank, Stephanie Collet was head of Data Center at SAFE Research Center and her research explored Germany in the interwar period. She holds a PhD in Economics from the Université Libre de Bruxelles.
Linda Goldberg
Linda Goldberg is a Senior Vice President at the Federal Reserve Bank of New York. Linda's main areas of expertise are global banking, international capital flows, and the international roles of currencies. She is the co-chair of the International Banking Research Network, Bank for International Settlements Technical Advisor, CEPR Distinguished Fellow, and an NBER Research Associate. She has previously engaged with the World Economic Forum, including as chair and vice chair of the Council on Global Economic Imbalances. Goldberg has a PhD in Economics from Princeton University, and a B.A. in Mathematics and Economics from Queens College CUNY, where she graduated Phi Beta Kappa and Summa Cum Laude.
Wilfried Kisling
Wilfried Kisling is an Assistant Professor in Economic and Social History at the Institute for Economic and Social History at WU Vienna, Austria, and an Associate Researcher at the Faculty of History at the University of Oxford, United Kingdom. Originally from “Dribbdebach” Frankfurt, Germany, he studied International Business Administration in Germany and Spain. Interested in the idea of studying economic development in the long run and from historical perspectives, Wilfried obtained his PhD in Economic History at the Universidad Carlos III in Madrid, Spain, in 2017. His research is interested in the (historical) role of financial institutions in trade, economic development, and systemic stability.
Goetz von Peter
Goetz von Peter is a Principal Economist and the Deputy Head of International Banking and Financial Statistics. His team supports users of the BIS international financial statistics and conducts research in international finance. He has written on international finance, including global banking, financial centres, crises, prudential regulation, interbank markets and networks, correspondent banking, and (re)insurance of natural disasters. Goetz holds a BSc and MSc from the London School of Economics, and a PhD in economics from Columbia University.
Natacha Postel-VinayI
Natacha Postel-VinayI is an economic and financial historian. Her research explores international finance, money and banking from a historical perspective, and considers how private finance and monetary policy have affected the business cycle over time, creating and destroying leverage and liquidity. Her research equally focuses on financial crisis resolution and the macroeconomic effects of fiscal policy. She teaches monetary and financial history from 1600 to the twenty-first century, and is a CEPR Research Affiliate.
Catherine Schenk
Catherine Schenk is Professor of Economic and Social History at the Faculty of History and Professorial Fellow of St. Hilda’s College, University of Oxford. Her research focuses on monetary and financial relations since 1945 with a particular emphasis on East Asia and the United Kingdom. After completing an undergraduate and a Masters degree at the University of Toronto in Economics, International Relations and Chinese Studies, Catherine Schenk obtained a PhD in Economic History at the London School of Economics. Since then she has held academic positions at Victoria University of Wellington, New Zealand, Royal Holloway, University of London and University of Glasgow. She has been a visiting professor at Nankai University, China, and Hong Kong University.
Beatrice Scheubel
Beatrice Scheubel is a Lead Economist in the International Policy Analysis Division in the Directorate General International and European Relations of the European Central Bank and holds a PhD in Public Economics from the University of Munich where she also worked as a teaching and research assistant to Hans-Werner Sinn. She is a guest lecturer at the Goethe University in Frankfurt and an Affiliate Member of the CESifo Research Network. Her research interests are mainly international economics and applied public finance.


Fenster schliessen