CfP Deadline:
July 24, 2026
Conference Event:
October 8-9, 2026
Event Location:
Copenhagen, Denmark
Organizer(s):
Danmarks NationalBank
Center for Financial Innovation and Stability (Federal Reserve Bank of Atlanta)
Center for the Economic Analysis of Risk (Georgia State University)
Keynote Speaker(s):
Xavier Vives (University of Navarra, IESE Business School)
Arnoud Boot (University of Amsterdam)
Description:
The Danmarks NationalBank, the Center for Financial Innovation and Stability (Federal Reserve Bank of Atlanta) and the Center for the Economic Analysis of Risk (Georgia State University) are organizing a conference on STABILITY IMPLICATIONS OF NONBANK PROVISION OF FINANCIAL SERVICES. We will hold the conference in-person at the Danmarks National Bank in Copenhagen on 8-9 October 2026. The goal of the conference is to bring together economists, finance and risk management professionals, and regulators to consider the reasons for the growth of nonbank providers of financial services and the implications of these providers for the stability of the financial system. Xavier Vives (University of Navarra, IESE Business School) and Arnoud Boot (University of Amsterdam) have both agreed to give keynote addresses at this year’s conference.
Traditional financial stability concerns have largely focused on maintaining the stability of chartered banks, largely because of their historically unique role in the payments system, but also because of their role in the provision of credit. To varying degrees, banks have faced competition from both nonbank intermediaries and financial markets, such as the money market and bond markets. These nonbank providers have generally had the advantage of being subject to less intrusive regulations, but at the cost of not having de jure access to the safety net. More recently, however, changes to regulation (such as the EU’s Payment Services Directives) and technological developments (such as blockchains, machine learning, and artificial intelligence) are opening a variety of new ways for nonbank providers to enter the financial services market.
On the one hand, the growth of nonbank providers may diversify the ways in which financial services are provided, and possibly provide better risk management, potentially enhancing overall stability. On the other hand, these developments may facilitate the creation of new, systemically important financial intermediaries and markets that lie largely outside the perimeter of prudential supervision. Moreover, in recognition of their existing systemic importance, central banks and governments have shown a willingness to extend the de facto safety net to systemically important nonbank financial firms and to financial markets. These extensions may promote stability in the short run. However, over the longer term these extensions also may promote the growth, and reduce the risk management incentives, of nonbank providers with the possible result of increasing the overall riskiness of the financial system. This conference will consider the factors leading to the increasing role of nonbank provision of financial services and examine the financial stability implications of such provision.
Submission:
We invite academics, professionals, and regulators to submit papers and/or ideas for panel discussions for this conference. Long abstracts or, preferably, complete manuscripts may be submitted no later than Friday, July 24, 2026, on the full range of issues associated with the implications of nonbank provision of financial services on financial stability including, but not limited to:
- Factors that have or are likely to contribute to the growth of nonbank financial service providers, in general or in the provision of specific type(s) of services.
- The effect of nonbank providers on financial stability, including both the stability enhancing and stability reducing effect of nonbank providers.
- Analysis of prudential regulatory responses the growth of nonbank providers.
- Analysis of the role of the safety net authorities in of distress on the part of systemically important nonbank providers.
The results of the selection process will be sent in early August. Reasonable travel and accommodation expenses will be covered for the presenters of accepted papers and more information about these expenses will be discussed with presenters in the months leading up to the conference. In return, we expect participants whose expenses are covered to be present for the bulk of the two days of the conference. Please email Larry Wall with inquiries about participation at: lwall7@gsu.edu.
Link:
Stability Implications of Nonbank Provision of Financial Services