Conference on Stable Funding

September 27, 2013
A conference jointly sponsored by the Federal Reserve Bank of New York and the Office of Financial Research.
Overview

Financial intermediaries often finance long-term, illiquid investments with short-term, liquid liabilities. Banks, nonbank financial companies, and short-term funding vehicles are thus exposed to runs and other instabilities as the activities of liquidity and maturity transformation create potential mismatches. Creditors worried about their claims may withdraw funding, potentially resulting in significant losses that can lead to fire sales and failure. The recent financial crisis highlighted these vulnerabilities.

The conference will feature papers and discussions that provide a framework for analyzing the stability of funding, the relationship between opacity and the likelihood of creditor runs, and liquidity premiums. It will also feature a policy panel to discuss such issues as the liquidity risk of large, complex financial institutions and the macroprudential tools available to address funding risk.

Audience
Academics, market participants, and policy makers.
Agenda >>
Registration is closed
Media
This event is open to the media. Chatham House Rules will be in effect for all but the opening remarks; media may report on comments made during the event, but may not attribute remarks to individuals or organizations. President Rosengren's opening remarks will be on-the-record. To register, please contact Andrea Priest at the New York Fed, andrea.priest@ny.frb.org or (212) 720-6139.
Conference Location

Federal Reserve Bank of New York
33 Liberty Street
1st Floor, Liberty Room
New York, NY 10045

Conference Organizers
Tobias Adrian, Federal Reserve Bank of New York
Richard Berner, Office of Financial Research
James McAndrews, Federal Reserve Bank of New York
Tanju Yorulmazer, Federal Reserve Bank of New York
Contact

Please address any questions to ny.researchconference@ny.frb.org.

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