Welcome: Monica Billio (Ca’ Foscari University of Venice & GRETA)
Opening Remarks: Hans Degryse (KU Leuven, Halle Institute for Economic Research & CEPR, Programme Chair)

• Key-note talk: Trade Credit - for Better or Worse: Contagion, Risk-sharing, and Pricing [1] - [2]
  Tor Jacobson (Sweden's Central Bank)

• Credit Risk Analysis Using Machine and Deep Learning Models
  Peter Martey Addo (French Development Agency & Laboratory of Excellence for Financial Regulation, Paris), Dominique Guegan (Laboratory of Excellence for Financial Regulation, Paris, University Paris 1 Pantheon Sorbonne & Ca’ Foscari University of Venice) and Bertrand Hassani (Laboratory of Excellence for Financial Regulation, Paris & Capgemini Consulting, Courbevoie)
  Discussant: Monica Billio (Ca’ Foscari University of Venice & GRETA)

• Estimation of Probability of Default with Machine Learning Techniques: A Comparative Approach
  Stefano Bonini (Accenture Finance&Risk & University of Bologna) and Giuliana Caivano (Accenture Finance&Risk & University of Bologna)
  Discussant: Roberto Casarin (Ca’ Foscari University of Venice & GRETA)

• Unconventional Monetary Policy and Credit Rating Inflation
  Nordine Abidi (European Central Bank), Matteo Falagiarda (European Central Bank) and Ixart Miquel-Flores (European Central Bank)
  Discussant: Stephen Schaefer (London Business School)

• Sharing the Pain? Credit Supply and Real Effects of Bank Bail-ins
  Thorsten Beck (University of London, CEPR & CESifo), Samuel Da-Rocha-Lopes (European Banking Authority & Nova School of Business & Economics, Lisbon) and André F. Silva (Federal Reserve Board)
  Discussant: Hans Degryse (KU Leuven, Halle Institute for Economic Research & CEPR)

• Does Size Matter? Bailouts with Large and Small Banks
  Eduardo Dávila (New York University & NBER) and Ansgar Walther (University of Warwick)
  Discussant: Guillaume Plantin (Sciences Po & CEPR)

• Adapting Lending Policies When Negative Interest Rates Hit Banks’ Profits
  Oscar Arce (Bank of Spain), Miguel García-Posada (European Central Bank), Sergio Mayordomo (Bank of Spain) and Steven Ongena (University of Zurich, Swiss Finance Institute, KU Leuven & CEPR)
  Discussant: Glenn Schepens (European Central Bank)
  

• Loan Underwriting Time: A New Determinant of Bank Lending Standards
  Mikel Bedayo (Bank of Spain), Gabriel Jiménez (Bank of Spain), José-Luis Peydró (ICREA, Pompeu Fabra University, Barcelona Graduate School of Economics, Imperial College London & CEPR) and Raquel Vegas (Bank of Spain)
  Discussant: Mike Mariathasan (KU Leuven)

• Can Technology Undermine Macroprudential Regulation? Evidence from Peer-to-Peer Credit in China
  Fabio Braggion (Tilburg University & CentER), Alberto Manconi (Bocconi University) and Haikun Zhu (Tilburg University & CentER)
  Discussant: Christoph Basten (University of Zurich)

• Disastrous Defaults
  Christian Gouriéroux (University of Toronto & Toulouse School of Economics), Alain Monfort (CREST & Bank of France), Sarah Mouabbi (Bank of France) and Jean-Paul Renne (HEC Lausanne)
  Discussant: Andrea Giacomelli (Knowshape & GRETA)

• Time Matters: How Default Resolution Times Impact Final Loss Rates
  Jennifer Betz (University of Regensburg), Ralf Kellner (University of Regensburg) and Daniel Rösch (University of Regensburg)
  Discussant: Alain Monfort (CREST & Bank of France)

• The European Venture Capital Landscape: An EIF Perspective
  Elitsa Pavlova (European Investment Fund) and Simone Signore (European Investment Fund)

• Residential Mortgage Defaults and Positive Equity: Lessons from Europe
  Virginia Gianinazzi (Università della Svizzera Italiana & Swiss Finance Institute), Loriana Pelizzon (Ca’ Foscari University of Venice & SAFE-Goethe University Frankfurt) and Alberto Plazzi (Università della Svizzera Italiana & Swiss Finance Institute)
  Discussant: Ludovic Thebault (European DataWarehouse)

• Credit Default Swaps Around the World: Investment and Financing Effects
  Söhnke M. Bartram (Warwick Business School), Jennifer Conrad (University of North Carolina at Chapel Hill), Jongsub Lee (University of Florida) and Marti G. Subrahmanyam (New York University)
  Discussant: Yalin Günduz (Deutsche Bundesbank)

• The Differential Impact of Leverage on the Default Risk of Small and Large Firms
  Lara Cathcart (Imperial College London), Alfonso Dufour (ICMA Centre & University of Reading), Ludovico Rossi (ICMA Centre & University of Reading) and Simone Varotto (ICMA Centre & University of Reading)
  Discussant: Roberto Savona (University of Brescia)

• Key-note talk: Observations on the Digital Revolution: Financial Innovation and FinTech
  Robert C. Merton (Massachusetts Institute of Technology & NBER)

• Collateral and Asymmetric Information in Lending Markets
  Vasso Ioannidou (Lancaster University & CEPR), Nicola Pavanini (Tilburg University & CEPR) and Yushi Peng (University of Zurich & Swiss Finance Institute)
  Discussant: Bogdan Stacescu (BI Norwegian Business School)

• Lending Relationships and the Collateral Channel
  Gareth Anderson (University of Oxford & Bank of England), Saleem Bahaj (Bank of England), Matthieu Chavaz (Bank of England), Angus Foulis (Bank of England) and Gabor Pinter (Bank of England)
  Discussant: Olivier De Jonghe (National Bank of Belgium & Tilburg University)

PANEL SESSION: SMALL BUSINESS RISK, FINANCIAL REGULATION AND BIG DATA ANALYTICS
Chairman: Fabrizio Galimberti (Columnist, Il Sole 24 Ore)

Participants:
Davide Alfonsi (Group Risk Manager, Intesa Sanpaolo, Turin)
Renzo Avesani (Chief Risk Officer, Unipol Gruppo Finanziario, Bologna)
Loriana Pelizzon (Full Professor in Economics, Ca’ Foscari University of Venice)
Dale Gray (Senior Risk Expert, International Monetary Fund, Washington)
Nina B. Shapiro (former Vice President Finance and Treasurer, World Bank Group's International Finance Corporation, Washington)

• Key-note talk: Marking to Market Versus Taking to Market
  Guillaume Plantin (Sciences Po & CEPR)

• Bank Bonus Pay as a Risk Sharing Contract
  Matthias Efing (HEC Paris), Harald Hau (University of Geneva, CEPR & Swiss Finance Institute), Patrick Kampkötter (University of Tübingen) and Jean-Charles Rochet (University of Geneva & Swiss Finance Institute)
  Discussant: Roman Goncharenko (University of Vienna moving to KU Leuven)