Moody's Corporation & NYU Stern - Eighth Annual Credit Risk Conference

THURSDAY MAY 31st
7:45	BREAKFAST & REGISTRATION
8:15	WELCOME, OPENING REMARKS
8:30	GOVERNMENT BACKING & THE RISK-TAKING OF BANKS Safer Ratios, Riskier Portfolios: Banks’ Response to Government Aid Presenter: Ran Duchin, University of Michigan Government Guarantees and Bank Risk Taking Incentives Presenter: Jörg Rocholl, European School of Management and Technology Discussant: Mitchell A. Petersen, Northwestern University
9:30	INNOVATIONS IN FINANCE Can Securitization Cure Cancer? Presenter: Roger M. Stein, Massachusetts Institute of Technology / Moody's Corporation Shapeshifting: Innovation, Information and the Federal Corporate Paradigm Presenter: Henry Hu, University of Texas
10:30	BREAK
10:45	CREDIT PRICING & GOVERNMENT GUARANTEES Too-Systemic-To-Fail: What Option Markets Imply About Sector-Wide Government Guarantees Presenter: Stijn Van Nieuwerburgh, NYU Stern School of Business The Impact of Government Interventions on CDS and Equity Markets Presenter: Frederic Schweikhard, Goethe University Discussant: Stephen Schaefer, London Business School
11:45	KEYNOTE: SYSTEMIC RISK Presenter: Robert F. Engle, NYU Stern School of Business, 2003 Nobel Prize In Economics
12:30	LUNCHEON
1:45	KEYNOTE: WHY DO COUNTRIES FAIL? Presenter: Daron Acemoglu, Massachusetts Institute of Technology, 2005 John Bates Clark Medal

2:30

SOVEREIGN RISK MEASUREMENT METHODOLOGIES

Presenters:	Richard Cantor, Moody's Corporation
	Edward I. Altman, NYU Stern School of Business

3:30

BREAK

3:45

FINANCIAL SECTOR LINKAGES & MACROECONOMIC RISK

Financial Sector Linkages and the Dynamics of Sovereign and Bank Credit Spreads

Presenter: David Lando, Copenhagen Business School

Capital Flows, Cross-Border Banking and Global Liquidity

Presenter: Hyun Shin, Princeton University

Discussant: Viral V. Acharya, NYU Stern School of Business

4:45

PANEL: REGULATORY USES OF RATINGS AND THE REGULATION OF RATING AGENCIES

Moderator: Matthew Richardson, NYU Stern School
of Business

Panelists:	Michael Kanef, Moody's Corporation
	April Snyder, Board of Governors of the Federal Reserve System
	Chester Spatt, Carnegie Mellon University

5:45

CLOSING

6:00

COCKTAIL RECEPTION

ORGANIZING COMMITTEE