2022 Federal Reserve Stress Testing Research Conference 
This Event Has Ended
Registration for in-person attendance is closed, but registration for online attendance is still open. Please email StressTestingConference@frb.gov with any questions.
Background
Since the financial crisis, stress testing has become a key tool for evaluating the resilience of financial institutions and the financial system. For example, stress tests of U.S. large banking organizations are now conducted annually under the Dodd-Frank Act, and similar stress testing efforts have also been adopted internationally in recent years. Stress testing has become increasingly important in assessing the resilience of the financial system as a whole and the strength of the balance sheets of firms and households. It has also become a more prominent risk management tool for financial institutions. Accordingly, stress testing as a discipline has become an increasingly important area for economic research and policy.
Conference Format
We intend to host the conference in a hybrid format, with the option of participating online or in person, at the Federal Reserve Bank of Boston. Some limited funding to cover travel expenses may be available for paper presenters and discussants. Although we hope to see everyone in Boston, we will revert to a fully virtual format should conditions related to COVID-19 not allow in-person participation.
The conference will consist of presentations of academic research papers. Some of the paper presentations will be followed by discussions.
With the authors' approval, the papers presented at the conference may be made available to the public on the website of the Federal Reserve Bank of Boston.
Organizing Committee
Ronel Elul, Federal Reserve Bank of Philadelphia
Luca Guerrieri, Federal Reserve Board
Anya Kleymenova, Federal Reserve Board
Michal Kowalik, Federal Reserve Bank of Boston
John Krainer, Federal Reserve Board
Daniela Scida, Federal Reserve Bank of Richmond
Cindy Vojtech, Federal Reserve Board
Agenda
Thursday, October, 6, 2022
Welcoming Remarks and Introductions
Shannon Kelly, Associate Director, Supervision and Regulation Division, Federal Reserve Board
Session 1: Stress Test Modeling
Recourse as Shadow Equity
David Glancy (FRB)*
Robert Kurtzman (FRB)
Lara Lowenstein (FRB-Cleveland)
Joe Nichols (FRB)
Rossen Valkanov (UCSD)
Haste Makes Waste: Banking Organizational Growth and Operational Risk
W. Scott Frame (FRB-Dallas)
Ping McLemore (FRB-Richmond)*
Atanas Mihov (University of Kansas)
James Vickery (FRB-Philadelphia)
Lunch Break
Session 2: Consequences of Stress Testing
Bank Stress Testing, Human Capital Investment and Risk Management
Thomas Schneider (Old Dominion University)
Philip E. Strahan (Boston College)
Jun Yang (University of Notre Dame)*
Andrew Ellul (Indiana University)
Stress Tests and Capital Requirement Disclosures: Do They Impact Banks' Lending and Risk-Taking Decisions?
Paul Konietschke (ECB)*
Steven Ongena (University of Zurich)
Aurea Ponte Marques (ECB)
Mark Flannery (University of Florida)
Break
Session 3: Policy Discussion
Enhancing Stress Tests by Adding Macroprudential Elements
William F. Bassett (FRB)
David E. Rappoport (FRB)*
Approaches to Climate Risk in FSAPs
Tobias Adrian (IMF)
Ivo Krznar (IMF)
Vikram Haksar (IMF)*
End of Day 1 - Happy Hour
Friday, October, 7, 2022
Welcome from Federal Reserve Bank of Boston Management
Patrick deFontnouvelle (FRB-Boston)
Session 4: Stress Testing Design
Should Bank Stress Tests be Fair?
Paul Glasserman (Columbia University)*
Mike Li (Columbia University)
Matthew Plosser (FRB-NY)
Break
Plenary Address: Rethinking the Roles of Stress Testing
Daniel Tarullo (Harvard Law School and Former Member of the Board of Governors of the Federal Reserve System)
Lunch Break
Session 5: Issues in Stress Testing
United They Fall: Bank Risk after the Financial Crisis
Priyank Gandhi (Rutgers University)*
Amiyatosh Purnanandam (University of Michigan)
Jose Fillat (FRB-Boston)
Current Expected Credit Losses (CECL) Standard and Banks' Information Production
Sehwa Kim (Columbia University)
Seil Kim (Baruch College)
Anya Kleymenova (FRB)*
Rongchen Li (Columbia University)
Joao Granja (UChicago-Booth)
End of Day 2
*presenting author