Stress Testing: A Discussion and Review Stress Testing: A Discussion and Review

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July 9, 2019
8:30 a.m. – 5:00 p.m.
Federal Reserve Bank of Boston
600 Atlantic Avenue
Boston, MA 02210
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Stress testing has become an important part of capital regulation for large U.S. banking organizations through the annual Dodd-Frank-Act stress tests (DFAST) and Comprehensive Capital Analysis and Review (CCAR). The Federal Reserve will host the "Stress Testing: A Discussion and Review" conference to discuss the transparency and effectiveness of the stress tests and how the stress tests can remain a dynamic and useful tool of large bank supervision.

The conference will be held on July 9, 2019 at the Federal Reserve Bank of Boston, and will bring together academics, regulators, bankers, and other stakeholders. The panels will include overviews and discussions of themes that are at the forefront of stress testing, including the effectiveness of stress testing as a policy tool, dynamism and transparency in stress testing, and the effects stress tests have on economic and financial conditions. These panels will feature thought leaders who will provide unique perspectives on stress testing.

Agenda

8:30 a.m. – 8:45 a.m.

Welcoming Remarks

Lisa Ryu

Senior Associate Director

Board of Governors of the Federal Reserve System

8:45 a.m. – 9:00 a.m.

Opening Remarks (via Video)

Jerome Powell

Chair

Board of Governors of the Federal Reserve System

9:00 a.m. – 10:30 a.m.

Stress Tests as Policy Tool

Download Download Paper (pdf) Download Download Presentation (pdf)

Moderator

Michael Gibson

Director

Board of Governors of the Federal Reserve System

Presenter

Andrew Metrick

Director

Yale University

(Co-Author: Greg Feldberg, Director of Research, Yale Program of Financial Stability)

Discussants

Charlotte Gerken

Director

Cross Sectoral and Insurance Policy

Bank of England

Dennis Kelleher

President and Chief Executive Officer

Better Markets

Brian Lee

Chief Accounting Officer and Controller

Goldman Sachs

11:00 a.m. – 12:30 p.m.

Dynamism and Transparency in Stress Testing

Download Download Paper (pdf) Download Download Presentation (pdf)

Moderator

Beverly Hirtle

Executive Vice President

Federal Reserve Bank of New York

Presenter

Mark Flannery

Bank of America Eminent Scholar in Finance

University of Florida

Discussants

Tim Clark

Former Deputy Director

Board of Governors of the Federal Reserve System

Dennis Kelleher

President and Chief Executive Officer

Better Markets

Randall Guynn

Head of Financial Institutions Group

Davis Polk & Wardwell

Andrew Kuritzkes

Chief Risk Officer

State Street Corporation

2:00 p.m. – 3:00 p.m.

Keynote Speech

Randal Quarles

Vice Chair for Supervision

Board of Governors of the Federal Reserve System

3:30 p.m. – 5:00 p.m.

Effects of Stress Test

Download Download Paper (pdf) Download Download Presentation (pdf)

Moderator

Andreas Lehnert

Director

Board of Governors of the Federal Reserve System

Presenter

Nellie Liang

Senior Fellow

Brookings Institute

(Co-Author: Donald Kohn, Senior Fellow, Brookings Institution)

Discussants

Benson F. Roberts

President and CEO

National Association of Affordable Housing Lenders

Jaret Seiberg

Managing Director

Cowen Group, Inc.

Til Schuermann

Partner

Oliver Wyman