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SUMMARY:2022 Financial Stability Conference: Financial Stability: Frontier Risks, a New Normal, and Policy Challenges
UID:https://bankinglibrary.com/2022-financial-stability-conference-financial-stability-frontier-risks-a-new-normal-and-policy-challenges-2/
LOCATION:Cleveland, OH, USA and online
DTSTAMP:20221117Z
DTSTART:20221117Z
DTEND:20221118Z
DESCRIPTION:CfP Deadline Date:
July 5, 2022
Conference Event:
November 17-18, 2022
Event Location:
Cleveland, OH, USA and online
Keynote speaker(s):
 	Tobias Adrian (International Monetary Fund (IMF))
 	Gary Gorton (Yale School of Management)
Organizer(s):
Federal Reserve Bank of Cleveland and the Office of Financial Research
The Federal Reserve Bank of Cleveland and the Office of Financial Research
invite the submission of research and policy-oriented papers for the 2022
Financial Stability Conference to be held in Cleveland, Ohio, and virtually
in a hybrid format on November 17–18, 2022.
Rapidly evolving threats pose new financial stability challenges for
practitioners, regulators, and policymakers alike. Beyond the new normal
coming from changes in fiscal, monetary, and regulatory policies, markets
and institutions are confronted by frontier risks borne by innovations in
technology, changes in the physical environment, and global interlinkages.
The growth of digital asset markets also highlights new and old challenges
for financial regulators, while cybersecurity disruptions introduce a
growing set of vulnerabilities to the increasingly automated and
interconnected financial system. The financial stability consequences of
climate risks and associated policy responses are still not well
understood, though they have drawn increasing attention. And, finally,
deeper real and financial links between a world being recognized as more
diverse brings new risks to the forefront of policy challenges. The tenth
annual Financial Stability Conference organized by the Federal Reserve Bank
of Cleveland and the Office of Financial Research will explore these
issues.
TOPICS: We welcome submissions of research on topics related to potential
financial stability risks faced by financial markets and institutions,
sources of financial system resilience, and related public policy.
Conference topics include but are not limited to the following:
Macroprudential and Monetary Policy
As monetary policy transitions from supporting markets to fighting
inflation, it is crucial to understand the place of macroprudential and
stability policy within that framework. What risks will arise with the
shift in policy, what data will make these risks apparent, and what tools
will be needed to preserve stability? Are there implications for the
governance of both the private and public sectors? Irrespective of the
policy environment, what frontier risks are emerging with the constant
changes in technology and organizations?
- Interactions between macroprudential and monetary policy
- Inflation, macroprudential supervision, and financial stability
- Risks from rising interest rates and quantitative tightening
- Macroprudential impacts on diverse populations
- International regulatory competition and cooperation
- Financial stability councils and central banks: policy coordination with
divided responsibility
- Policy uses of big data, text data, and new data
- Regtech and regulatory sandboxes
- Use and misuse of algorithms
Financial Institutions
Frontier risks represent new challenges for financial institutions. Sizing
exposures to evolving risks and managing them in the face of an uncertain
regulatory environment may affect the behavior of institutions and create
vulnerabilities. These risks may also have interactions with existing
transmission channels that affect financial stability. Under what
conditions can frontier risks become systemic risks? How are institutions
adapting to these risks and associated regulatory changes? How prepared are
regulators and policymakers? Are existing microprudential and
macroprudential toolkits sufficient?
- Risk measurement
- Effects of capital and liquidity regulation
- Transition risks arising from climate change
- Tail risks and uncertainty
- Risk management and implicit models of risk
- Resilience to supply chain, operational, and cyber disruptions
- Valuation and liquidity risks for illiquid assets
- Cybersecurity
- Resilience to financial exclusion and disintermediation
Financial Markets
Frontier risks emerge in new and evolving financial markets as
institutions, technologies, and settlement practices work to keep pace with
investor demands. While investors may overlook many of these risks in
forming portfolios initially, as these vulnerability channels materialize,
they can create strains on the evaluation of assets. The transitions that
follow, typically associated with broad reallocations, form financial
stability threats through which volatility spikes, fire sales, and
financial contagion appear. To what extent do investors recognize these
risks, and how does recognition affect their allocations? How does opacity
resulting from deficiencies in reporting, risk management, and operation
standards for these risks affect investor behavior?
- Tail risks and uncertainty
- Contagion, networks, and interconnectedness
- Financial links between real and financial sectors
- Payment system stress and innovations
- Distributed digital ledgers
- High-frequency trading
- CCPs, clearinghouses, and derivatives markets
- Short-term funding, securities financing, and collateralization
Further Information:
CONFERENCE FORMAT: To develop these themes, the conference will bring
together a mix of policymakers, market participants, and researchers in two
types of sessions:
Policy Discussions
These sessions include keynote addresses and panel discussions in which
participants from industry, regulatory agencies, and academia share their
insights.
Research Forums
These forums follow the format of an academic workshop and include sessions
to discuss submitted papers.
PAPER SUBMISSION PROCEDURE: The deadline for submissions is Tuesday, July
5, 2022. Please submit completed papers through Conference Maker
(https://editorialexpress.com/cgi-bin/conference/conference.cgi?action=login&db_name=finstab22).
Notification of acceptance will be provided by Thursday, September 8, 2022.
Final conference papers are due on Tuesday, November 1, 2022. In-person
paper presentations are preferred; presenters will need to follow any
relevant COVID-19 protocols for entry in place at the time of the
conference. Questions about the call for papers or the conference should be
directed to financial.stability.conference@clev.frb.org
Link CfP & Conference: 2022 Financial Stability Conference: Financial
Stability: Frontier Risks, a New Normal, and Policy Challenges
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