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11th Annual Bank Research Conference, September 16-17, 2011

Risk management: Lessons from the crisis

Jointly organized by the Federal Deposit Insurance Corporation's Center for Financial Research and the Journal of Financial Services Research (JFSR)

The FDIC's Center for Financial Research and the JFSR invite submissions for the 11th Annual Fall Research Conference to be held in Arlington, Virginia on Friday September 16, and Saturday September 17, 2011.

Many financial sector and regulatory practices contributed to the recent financial crisis, but foremost among these were important failures in risk management practices and processes and weaknesses in the compensation and governance policies in many parts of the financial services sector. The list of potential causes is long and includes failures in: underwriting standards, rating agency practices, capital and liquidity management, portfolio credit risk management, derivative pricing models, counterparty credit risk management, and disclosure standards. Some of these failures can be linked to conflicts in incentives that led to excessive risk-taking, poor security design, and mismanaged loss mitigation activities, especially in the case of mortgage servicing. The 11th Annual FDIC-JFSR Fall Bank Research Conference invites theoretical and empirical papers focusing on risk management questions raised by the crisis including, but not limited to:

  • Portfolio credit risk measurement -- which models worked, which did not and why? Will better transparency on credit risk transfer mechanisms improve financial stability? What are the weaknesses/improvements in rating agency models and governance processes? How can underwriting standards be monitored and regulated?
  • Capital and Liquidity management -- will new regulatory initiatives (e.g. Dodd-Frank Act and the enhancements in Basel III) achieve intended objectives or do they create new levels of complexity that will lead to new arbitrage opportunities, financial instability, and other unintended economic consequences? Will reform measures prevent future financial crisis?
  • Interest-rate risk management - what are the consequences of prolonged zero interest-rate polices on the interest-rate risk exposure of the financial institutions?
  • Systemic risk management -- will new regulatory initiatives provide an effective framework for identifying and regulating systemically important financial institutions (SIFIs)? What methods are most appropriate for identifying and regulating systemic risk and SIFIs? Will centralized counterparties for OTC derivatives reduce volatility and systemic risk?
  • Incentives and risk management -- were financial sector compensation and governance important causes of the financial crisis? What reforms are needed? What are the short-term and long-term consequences of government mandates for compensation reform?
  • The 11th Annual FDIC-JFSR conference will provide a forum to discuss these and related issues.

Expenses for travel, food, and lodging will be reimbursed for paper presenters. Papers must be received by June 1, 2011. Authors will be notified about the status of their papers by July 15, 2011. Please submit papers as "pdf" attachments to an email sent to CFR@fdic.gov. Please name the file: Please name the file: "YourLastName.pdf."

For additional information, contact Paul Kupiec (202) 898-6768 (pkupiec@fdic.gov) or Haluk Unal (301) 405-2256 (hunal@rhsmith.umd.edu).

Last Updated 5/17/2011 cfr@fdic.gov

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