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Pew Financial Reform Project
Conference on Frameworks for Systemic Risk Monitoring
The Committee to Establish the National Institute for Finance (CE-NIF), the Center for Financial Policy at the R.H. Smith School of Business at the University of Maryland, the Sloan Foundation, and the Pew Financial Reform Project held a conference in June 2010 to discuss the data collection requirements for financial management.The aim was to discuss the "new analysis capabilities and appropriate data" that will be needed to monitor and manage systemic risk. The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 created an an Office of Financial Research (OFR) in the U.S. Treasury with a series of mandates, including:
- Collecting data on behalf of the Financial Stability Oversight Council (FSOC), and providing such data to the FSOC and member agencies;
- Standardizing the types and formats of data reported and collected;
- Performing applied research and essential long-term research;
- Developing tools for risk measurement and monitoring;
- Assisting such member agencies in determining the types and formats of data authorized by Dodd-Frank to be collected by such member agencies.
This conference addressed the strategies and frameworks needed to meet these requirements, with a particular focus on efforts needed to effectively monitor systemic risk. It brought together leading experts from industry, academia and the regulatory community to discuss the associated scientific and research-related efforts and the subsequent data requirements.The links below are to presentations that were released during the conference:
1. Frameworks for Systemic Risk Monitoring - June 2010 Conference Report
3. John Liechty, CE-NIF Introduction
4. Raghuram Rajan, Systemic Risk Perspectives
5. Allan Mendelowitz, History of the CE-NIF
6. Markus Brunnermeier, Systemic Risk Monitoring
7. John Geanakoplos, Measuring the Leverage Cycle
8. Rama Cont, Measuring Systemic Risk, Insights from Network Analysis
9. Alan King, Systemic Risk Simulation and Implications for Systems and Facilities
10. Mike Atkin, Frameworks for Data
11. Charles Taylor, "A Period of Intellectual Ferment"