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ECB Conference on Money Markets 2024 

Thursday, 7 and Friday, 8 November 2024

Frankfurt am Main

Hybrid event

The annual ECB Conference on Money Markets brings together academics, market practitioners and central bankers to discuss money markets, monetary policy implementation and central bank operational frameworks. Through a combination of research presentations, insights from market participants and high-profile keynote speeches, the conference aims to advance our understanding of how to ensure an efficient monetary policy transmission through money markets.

Request online participation

If you want to attend the conference online, register by clicking on the buttons below. When your registration is approved, you'll receive an invitation to join the webinar.

Programme

* indicates the presenter

Thursday, 7 November 2024
8:30

Registration

9:00

Welcome and housekeeping

Imène Rahmouni-Rousseau, European Central Bank

9:10

Opening remarks

Isabel Schnabel, Member of the Executive Board of the ECB

9:30

Session 1 – Repo markets

Chair: Luc Laeven, European Central Bank

Collateral Easing and Safe Asset Scarcity: How Money Markets Benefit from Low-Quality Collateral

  • Stefan Greppmair*, Deutsche Bundesbank
  • Karol Paludkiewicz, Deutsche Bundesbank
  • Sascha Steffen, Frankfurt School of Finance and Management
Discussant: Martina Jasova, Columbia University

Collateral Demand in Wholesale Funding Markets

  • Patrick Coen*, Toulouse School of Economics
  • Jamie Coen, Imperial College London
  • Anne-Caroline Hüser, Bank of England

Discussant: Sriya Anbil, Board of Governors of the Federal Reserve System

11:10

Coffee break

11:30

Session 2 – Central bank balance sheet and the Banking Sector

Chair: Massimo Rostagno, European Central Bank

Optimal Central Bank Balance Sheets

  • Giovanni Lombardo*, Bank for International Settlements
  • Egemen Eren, Bank for International Settlements
  • Timothy Jackson, University of Liverpool

Discussant: Moritz Lenel, Princeton University

The Dynamics of Deposit Flightiness and its Impact on Financial Stability

  • Jian Li*, Columbia Business School
  • Xu Lu, University of Washington
  • Yiming Ma, Columbia Business School

Discussant: Vasso Ioannidou, Bayes Business School

13:10

Lunch break

14:30

Keynote speech
Gauging the minimum ample quantity of reserves

Darrell Duffie, Stanford University

Chair: Christophe Kamps, European Central Bank

15:30

Coffee break and poster session

16:20

Session 3 – Central bank balance sheet and Operations

Chair: Anna Nordstrom, Federal Reserve Bank of New York

Monetary Policy Operations: Theory, Evidence, and Tools for Quantitative Analysis

  • Ricardo Lagos*, New York University
  • Gastón Navarro, Federal Reserve Board

Discussant: Pierre Collin-Dufresne, École Polytechnique Fédérale de Lausanne

Liquidity transformation and Eurosystem credit operations

Ben Hartung*, European Central Bank

Discussant: Quentin Vandeweyer, University of Chicago Booth School of Business

18:00

Get together/Drinks

19:00

Conference dinner – by invitation only

Hosted by Isabel Schnabel

Friday, 8 November 2024
8:30

Registration

9:00

Keynote speech

Antoine Martin, Swiss National Bank

Chair: Thomas Vlassopoulos, European Central Bank

10:00

Session 4 – FX Market

Chair: Kenji Fujita, Bank of Japan

Cross-Currency Basis Risk and International Capital Flows

  • Jean-David Sigaux*, European Central Bank
  • Christian Kubitza, European Central Bank
  • Quentin Vandeweyer, University of Chicago Booth School of Business

Discussant: Amy Wang Huber, University of Pennsylvania Wharton School

Hunting for Dollars

  • Angelo Ranaldo*, University of St. Gallen
  • Peteris Kloks, University of St. Gallen
  • Edouard Mattille, University of St. Gallen

Discussant: Anusha Chari, University of North Carolina at Chapel Hill

11:40

Coffee break

12:10

Market panel

Chair: Imène Rahmouni-Rousseau, European Central Bank

Panellists: 

  • Rohan Khanna, Head of European Rates Research, Barclays
  • Toni Gravelle, Deputy Governor, Bank of Canada
  • Luisa Gómez Bravo, Chief Financial Officer, BBVA
  • Gertjan Vlieghe, Vice Chairman, Millennium
13:15

Lunch and end of conference

This programme may be subject to change without notice.

Time allocation: 30 minutes for each paper presenter, 10 minutes for each discussant, 10 minutes for Q&A.

Audiovisual notice: A photographer will be present at the event taking photographs for our internet/intranet webpage. If you prefer not to have your photograph taken, please inform us in advance of the conference. The event may be filmed and the video recording (or parts of it) may be published on the internet/intranet.

General information

Venue

European Central Bank
Sonnemannstrasse 20
60314 Frankfurt am Main

Language

English

Transportation

Participants are requested to arrange their own transfers, unless indicated otherwise.

Organising committee
  • María Encío, Money Market and Liquidity Division
  • Danielle Kedan, Monetary Policy Strategy Division
  • Christian Kubitza, Financial Research Division
  • Barbara Meller, Market Operations Analysis Division
  • Sebastiaan Pool, Monetary Policy Strategy Division
  • Bernd Schwaab, Financial Research Division

all ECB

Contact

SEE ALSO

ECB Conference on Money Markets 2023

In 2023, the Money Markets Conference devoted particular attention to the review of central banks’ operational frameworks and the effects of monetary policy tightening.

Have a look at the 2023 conference programme