VIII Banking Initiative Conference

IESE Barcelona · March 19-20, 2026

Thursday, March 19, 2026

09:00: Registration & Coffee

09:20 – 09:30: Welcome

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
Chair: Xavier Vives, IESE Business School

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
Chair: Xavier Vives, IESE Business School

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
Chair: Hélène Rey, London Business School

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
Chair: Hélène Rey, London Business School

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
Chair: Stephen Checchetti, Brandeis University

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
Chair: Stephen Checchetti, Brandeis University

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
Chair: Dirk Niepelt, University of Bern

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
Chair: Dirk Niepelt, 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: Digital Money and Monetary Architecture

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)
Chair: Jordi Galí, Centre de Recerca en Economia Internacional (CREI)

12:15: Roundtable

Ignazio Angeloni, Institute for European Policymaking, U. Bocconi
François Haas, 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
Chair: Patrick Honohan, Trinity College Dublin

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