Welcome: Monica Billio (Ca’ Foscari University of Venice)
Opening Remarks: Steven Ongena (University of Zurich & Swiss Finance Institute, CREDIT 2015 Programme Chair)

• Key-note talk: Information, Credit and Organization, Vikrant Vig (London Business School)

• Financial Synergies and the Organization of Bank Affiliates: A Theoretical Perspective on Risk and Efficiency
  Elisa Luciano (University of Torino) and Clas Wihlborg (Chapman University)
  Discussant: Jean-Edouard Colliard (HEC Paris)

• Restructuring Failure and Optimal Capital Structure
  Alfred Lehar (University of Calgary)
  Discussant: Jan Pieter Krahnen (SAFE & Goethe University Frankfurt)

• Key-note talk: Risk Premia in Loan Markets, Mark Carey (Board of Governors of the Federal Reserve System)

• Private Commitment Problems and Systemic Risk
  Alan D. Morrison (University of Oxford) and Ansgar Walther (University of Oxford)
  Discussant: Alessandro Fontana (Joint Research Center, European Commission)

• Arbitraging the Basel Securitization Framework: Evidence from German ABS Investment
  Matthias Efing (Swiss Finance Institute & University of Geneva)
  Discussant: Stephen Schaefer (London Business School)

• Securitisation, Bank Capital and Financial Regulation: Evidence from European Banks
  Alessandro Diego Scopelliti (University of Warwick & University of Reggio Calabria)
  Discussant: André Lucas (VU University Amsterdam & Tinbergen Institute)

• Key-note talk: Beyond Mortgages: Equity Financing of Homes, Hayne Leland (University of California, Berkeley)

• Loan Originations and Defaults in the Mortgage Crisis: The Role of the Middle Class
  Manuel Adelino (Duke University, Durham), Antoinette Schoar (Massachusetts Institute of Technology, Cambridge & NBER) and Felipe Severino (Dartmouth, Hanover)
  Discussant: Isaac Hacamo (Indiana University, Bloomington) Loan

• Product Steering in Mortgage Markets
  Sumit Agarwal (National University of Singapore), Gene Amromin (Federal Reserve Bank of Chicago), Itzhak Ben-David (Ohio State University) and Douglas D. Evanoff (Federal Reserve Bank of Chicago)
  Discussant: Geng Li (Board of Governors of the Federal Reserve System)

• Rating Agencies and Information Efficiency: Do Multiple Credit Ratings Pay Off? The Case of RMBS Rating Migration
  Stefan Morkoetter (University of St. Gallen), Roman Stebler (University of St. Gallen) and Simone Westerfeld (University of Applied Sciences Northwestern Switzerland)
  Discussant: Douglas T. Breeden (Duke University)

• Show Me Yours and I’ll Show You Mine: Sharing Borrower Information in a Competitive Credit Market
  Jaap Bos (Maastricht University), Ralph De Haas (EBRD and Tilburg University) and Matteo Millone (VU University Amsterdam)
  Discussant: Reinhard Schmidt (SAFE & Goethe University Frankfurt)

• Information, Contract Design, and Unsecured Credit Supply: Evidence from Credit Card Mailings
  Song Han (Board of Governors of the Federal Reserve System), Benjamin J. Keys (University of Chicago) and Geng Li (Board of Governors of the Federal Reserve System)
  Discussant: Arjen Siegmann (VU University Amsterdam)

• Key-note talk: Central Bank Policies and Bank Credit Risk, Viral Acharya (New York University)

• Lending-of-last-resort Is as Lending-of-last-resort Does: Central Bank Liquidity Provision and Interbank Market Functioning in the Euro Area
  Carlos Garcia de Andoain (European Central Bank), Florian Heider (European Central Bank), Marie Hoerova (European Central Bank) and Simone Manganelli (European Central Bank)
  Discussant: Marti G. Subrahmanyam (New York University)

• The Euro Interbank Repo Market
  Loriano Mancini (Swiss Finance Institute), Angelo Ranaldo (University of St. Gallen) and Jan Wrampelmeyer (University of St. Gallen)
  Discussant: Alain Monfort (CREST & Banque de France)

• Does Inequality Cause Financial Distress? Evidence from Lottery Winners and Neighboring Bankruptcies
  Sumit Agarwal (National University of Singapore), Vyacheslav Mikhed (Federal Reserve Bank of Philadelphia) and Barry Scholnick (University of Alberta)
  Discussant: Roger M. Stein (Massachusetts Institute of Technology, Cambridge)

• Conflicting Security Laws and the Democratization of Credit: France's Reform of the Napoleonic Code
  Kevin Aretz (Manchester Business School), Murillo Campello (Cornell University & NBER) and Maria-Teresa Marchica (Manchester Business School)
  Discussant: Matteo Millone (VU University Amsterdam)

Participants:

• Michele Boldrin (Washington University in Saint Louis)
• Andrea Boltho (Oxford Economics)
• Hayne Leland (University of California, Berkeley)
• Mauro Maccarinelli (Intesa Sanpaolo, Milan)
• Roger M. Stein (Massachusetts Institute of Technology, Cambridge)