Ken.Anadu@bos.frb.org
Biography
Kenechukwu Anadu is a vice president at the Federal Reserve Bank of Boston’s Supervision, Regulation, and Credit Department, where he co-heads the Supervisory Research and Analysis Unit. SRA conducts research and analysis on the risks to financial stability arising from bank and non-banks and supports the Boston Fed.’s participation in numerous Federal Reserve System initiatives, including the stress testing program and the quantitative surveillance assessment of financial stability.
Kenechukwu is also the co-chair of the Federal Reserve System’s monitoring and analysis program for the largest, most systemically important banks. Prior to joining the Boston Fed., Kenechukwu was a fixed income analyst at the Massachusetts Pension Reserves Investment Management Board. He previously taught corporate finance at UMass Amherst and Babson College.
He earned his BSc. from Northeastern University and an MBA from Babson College. He holds the CFA and CAIA designations.
Publications
Books
"Types of Money Market Mutual Funds in the United States" in Money Market Funds in the EU and the US: Regulation and Practice, 2014, editors Viktoria Baklanova and Joseph Tanega, Oxford University Press.
Journal articles
"Swing Pricing Calibration: Using ETFs to Infer Swing Factors for Mutual Funds," 2023, Financial Analysts Journal. With John Levin, Victoria Liu, Noam Tanner, Antoine Malfroy-Camine, and Sean Baker.
"The Money Market Mutual Fund Liquidity Facility," 2022, Federal Reserve Bank of New York Economic Policy Review, Vol. 27 Number 2. With Marco Cipriani, Ryan M. Craver, and Gabriele La Spada.
"The Shift from Active to Passive Investing: Risks to Financial Stability?," 2020, Financial Analysts Journal, 76:4, 23-39. With Mathias Kruttli, Patrick McCabe, and Emilio Osambela.
Working papers, notes and blogs
"Stablecoins and Crypto Shocks,” 2024, Liberty Street Economics. With Pablo D. Azar, Marco Cipriani, Thomas M. Eisenbach, Catherine Huang, Mattia Landoni, Gabriele La Spada, Marco Macchiavelli, Antoine Malfroy-Camine, and J. Christina Wang.
"Runs and Flights to Safety: Are Stablecoins the New Money Market Funds?" 2023, Supervisory Research and Analysis Working Paper. With Pablo D. Azar, Marco Cipriani, Thomas M. Eisenbach, Catherine Huang, Mattia Landoni, Gabriele La Spada, Marco Macchiavelli, Antoine Malfroy-Camine, and J. Christina Wang.
"What is ‘financial stability’?” 2023, Boston Fed. blogpost.
"Runs on Stablecoins," 2023, Liberty Street Economics. With Pablo Azar, Marco Cipriani, Thomas M. Eisenbach, Catherine Huang, Mattia Landoni, Marco Macchiavelli, Antoine Malfroy-Camine, and J. Christina Wang.
"Swing pricing Calibration," 2022, Supervisory Research and Analysis Working Paper. With Victoria Liu and Lina Lu
“Swing Pricing Calibration: A Simple Thought Exercise Using ETF Pricing Dynamics to Infer Swing Factors for Mutual Funds,” 2022, Supervisory Research and Analysis Note. With John Levin, Victoria Liu, Noam Tanner, Antoine Malfroy-Camine, and Sean Baker.
"The Money Market Mutual Fund Liquidity Facility" 2021, Supervisory Research and Analysis Working Paper. With Marco Cipriani, Ryan Craver, and Gabriele La Spada
"Money Market Mutual Funds: Runs, Emergency Liquidity Facilities, and Potential Reforms", 2021 Supervisory Research and Analysis Note. With Siobhan Sanders
"Liquidity Transformation Risks in U.S. Bank Loan and High-Yield Mutual Funds", 2019, Supervisory Research and Analysis Note. With Fang Cai
"Reach for Yield by U.S. Public Pension Funds", 2019, Supervisory Research and Analysis Working Paper. With Lina Lu, Matthew Pritsker, Andrei Zlate, and James Bohn
"The Shift from Active to Passive Investing: Potential Risks to Financial Stability?", 2019, Supervisory Research and Analysis Working Paper. With Mathias Kruttli, Patrick McCabe, Emilio Osambela, and Chae Hee Shin
"The Intersection of U.S. Money Market Mutual Fund Reforms, Bank Liquidity Requirements, and the Federal Home Loan Bank System", 2017, Supervisory Research and Analysis Working Paper. With Viktoria Baklanova
"The Stability of Prime Money Market Mutual Funds: Sponsor Support from 2007 to 2011", 2012, Supervisory Research and Analysis Working Paper. With Steffanie A. Brady, and Nathaniel R. Cooper