Fed’s Balance Sheet, Money Markets and the Banking System

BPI is hosting a discussion on the outlook for the Fed’s balance sheet, money markets, and the banking system on Thursday, October 5, 9 a.m. – 12 p.m. ET. 

If you would like to observe the discussion, please register at the form below. 

• The discussion is in two parts. The first part kicks off with remarks from three leading front-end interest rate strategists, Mark Cabana of Bank of America, Teresa Ho of JPMorgan, and Mike Cloherty of UBS, moderated by Brian Sack. 
• The second part commences with remarks from three top experts on the banking system, Stephen Cecchetti (Brandies University and European Systemic Risk Board), Francisco Covas (Bank Policy Institute), and John McDonald (Autonomous Research) moderated by Til Schuermann.  Also joining in the discussion are a wide range of experts from the academic, public and private sectors.

Agenda

9:00 to 10:30 AM Federal Reserve balance sheet and money market conditions

• Moderator: Brian Sack (Formerly of DE Shaw and the New York Fed)
• Kicking off the conversation:  Mark Cabana (BofA), Michael Cloherty (UBS), and Teresa Ho (JPM)
• Potential topics include the outlook for the Fed’s balance sheet and reserve scarcity,  ON RRP, demand for reserves post SVB, QT, ratchet effects from QE, Treasury market capacity. 

10:30 AM to 12 PM Condition of and outlook for the banking sector

• Moderator: Til Schuermann (Oliver Wyman)
• Kicking off the conversation:  Stephen Cecchetti (Brandies University and European Systemic Risk Board), Francisco Covas (Bank Policy Institute), John McDonald (Autonomous Research)
• Potential topics include the outlook for bank profits, deposits, and regulations as well as the lessons from the bank failures in March and April

Additional Zoom Participants:

• David Beckworth (Mercatus)
• Richard Berner (New York University)
• Ulrich Bindseil (European Central Bank)
• Seth Carpenter (Morgan Stanley)
• Darrell Duffie (Stanford University)
• Bill English (Yale University)
• Wilson Ervin (Treasury)
• Jason Granet (BNY Mellon)
• Refet Gurkaynak (Bilkent University)
• Beth Hammack (Goldman Sachs)
• Nellie Liang (Treasury)
• Ellen Meade (Duke University)
• David Mericle (Goldman Sachs)
• Patricia Mosser (Columbia University)
• Peter Mozer (UBS)
• Pat Parkinson (Bank Policy Institute)
• Simon Potter (Millennium Management)
• Matthew Raskin (Deutsche Bank)
• Philipp Schnabl  (New York University)
• Samuel Schulhofer-Wohl (FRB Dallas)
• Bruce Tuckman (New York University)
• Lawrence White (New York University)
• Jonathan Wright (Johns Hopkins University)
• Nathaniel Wuerffel (BNY Mellon)
• Patricia Zobel (Formerly FRBNY)

Note: You will receive the Zoom link after you register.

For further information, please contact Janel Dupuis at Janel.Dupuis@bpi.com.