Digital Money
IESE Barcelona · March 19-20, 2026
Thursday, March 19, 2026
08:45: Registration & Breakfast
09:15 – 09:30: Opening Remarks
09:30 – 11:00: First Session
1- Can Redemption Fees Prevent Runs?” (with X. Huang)
- Presenter: Todd Keister, Federal Reserve Bank of New York
- Discussant: Cecilia Parlatore, NYU Stern
2- Stablecoins: A Revolutionary Payment Technology with Financial Risks (with J. Clouse, F. Natalucci, A. Rebucci and G. Sun)
- Presenter: Rashad Ahmed, Andersen Institute for Finance and Economics
- Discussant: Jon Frost, Bank for International Settlements
11:00 – 11:30: Coffee Break
11:30 – 13:00: Second Session
1- Public Information and Stablecoin Runs (with R. Ahmed and C. Duley)
- Presenter: Iñaki Aldasoro, Bank for International Settlements
- Discussant: Toni Ahnert, European Central Bank
2- Demand for Safety in the Crypto Ecosystem (with M. Campello, A. Gallo and L. Mota)
- Presenter: Tammaro Terracciano, IESE Business School
- Discussant: Pablo Azar, Federal Reserve Bank of New York
13:00 – 14:00: Lunch
14:00 – 15:30: Third Session
1- Monetary Innovation and Financial Architecture (with A. Walther)
- Presenter: Franklin Allen, Imperial College London
- Discussant: Jean-Charles Rochet, Toulouse School of Economics
2-Making Stablecoins Stable(r): Can Regulation Help? (with T. Goel and I. Agarwal)
- Presenter: Ulf Lewrick, Bank for International Settlements
- Discussant: Francesca Carapella, Federal Reserve Board of Governors
15:30 – 16:00: Coffee Break
16:00 – 17:30: Fourth Session
1- Managing the Transition to Central Bank Digital Currency (with M. Ferrari, A. Mehl and M.S. Pagliari)
- Presenter: Katrin Assenmacher, European Central Bank
- Discussant: Linda Schilling, Olin Business School Washington University
2- Digital Economy, Stablecoins, and the Global Financial System (with M. Azzimonti)
- Presenter: Vincenzo Quadrini, University of Southern California
- Discussant: Cyril Monnet, University of Bern
17:30: End of Meeting
Friday, March 20, 2026
09:15: Welcome
- Jordi Canals, IESE Business School
- Xavier Vives, IESE Business School
Opening
- Benoît Cœuré, Autorité de la Concurrence
09:45: Public vs. private money
- Dirk Niepelt, University of Bern
- Discussant 1: David Andolfatto, University of Miami
- Discussant 2: Ulrich Bindseil, Technische Universität Berlin
10:45: Coffee Break
11:15: Technology and international currencies
- Hélène Rey, London Business School
- Discussant 1: Livia Chitu, European Central Bank
- Discussant 2: Alberto Martín, Centre de Recerca en Economia Internacional (CREI)
12:15: Roundtable
- Ignazio Angeloni, Institute for European Policymaking, U. Bocconi
- Emmanuelle Assouan, Banque de France
- Sophia Bantanidis, Citi Institute
- Chair: Xavier Vives, IESE
13:15: Lunch
14:30: Regulating digital monies
- Stephen Cecchetti, Brandeis University
- Discussant 1: Jon Frost, Bank for International Settlements
- Discussant 2: Elisabeth Noble, European Banking Authority
15:30: Closing remarks
- José Manuel Campa, IESE Business School
16:00: End of meeting
The IESE Banking Initiative, with the support of Citi, wishes to study post-crises developments of banking and financial markets, paying particular attention to regulation and competition policy and the impact on business banking models. The initiative aims to promote a rigorous and informed dialogue on current issues in the fields of banking and financial markets among academics, regulators, companies and civil society.
The origin of the initiative lies in the annual Future of Banking Conference that IESE launched in London in 2014 to help improve research on the governance and management of banks.
With an initial horizon of four years, the program aims to be a reference point in banking and financial studies and will focus on issues that will be crucial to understanding the evolution of these sectors. Throughout the initiative, an annual report on the future of banking will be produced by a group of first-rate researchers.
If you are interested in attending the conference, please send an email to OfficeVives@iese.edu