Monthly seminars "chaire ACPR"

 

The ACPR Research Initiative seminar highlights high-quality research addressing issues of regulation and systemic risk for both banks and insurance firms. 

The seminar takes place on the first Wednesday of the month from 10.00 to 11.30 in the premises of the ACPR: 4, place de Budapest, Salle Liège (rez-de-jardin) -  See access plan.  

The seminar is open to everybody. Registration by email at chaireACPR@acpr.banque-france.fr is free but compulsory in order to attend. If you wish to be informed of upcoming events, please send an email to the same address.

The ACPR Studies Department organizes independent seminars as well: the page dedicated to the ACPR research seminars is available here.

 

NEXT EVENT

 

Wednesday, 12th October 2022, 10.30 am – 12.00 pm

Julien Sauvagnat (Bocconi University) will present

“ Corporate Overconfidence and Bank Lending ”

Abstract: We study how banks lend to overconfident managers. For identification, we exploit variation in pupils' overconfidence across areas in Italy. We find that overconfident borrowers default more, pay higher loan rates and are more likely to be denied credit. Consistent with a model of bank lending where borrowers have biased beliefs, banks that ask for more collateral are less likely to restrict credit to overconfident borrowers. However overconfident borrowers, unlike those with high credit risk, are not disciplined by collateral requirements, as they invest and default more when they borrow from banks that rely more on collateral.

 

Please note that this seminar will take place in a hybrid mode(the seminar will take place at the ACPR 4 Pl. de Budapest, 75009 Paris , and will also be streamed online).

(Free) registration (for both in person or online participation) is compulsory by mail at chaireACPR@acpr.banque-france.fr

If you opt for online participation, the connection details will be sent to you in the following days

TO CONTACT US

Article

 

PREVIOUS EVENT

 

Wednesday, 7th September 2022, 10.30 am – 12.00 pm

Olivier Lopez (Sorbonne Université) will present

“ Cyber insurance: insurability and accumulation scenarios ”

Abstract : With the increasing number of cyber attacks, the development of cyber insurance products are essential to the resilience of the economic fabric, and an opportunity for insurers to develop a new market. On the other hand, risk management of cyber insurance portfolios is a challenging task, due to the novelty of the risk and the difficulty to properly identify its impacts. Moreover, in addition to the volatility of cyber risk, accumulation phenomena may occur: a "cyber hurricane" may simultaneously strike a large part of the portfolio. In this presentation, we will explore tools that may be helpful to identify this risk and to develop diversification solutions that can allow us to anticipate (and potentially prevent) such events.

Please note that this seminar will take place in a hybrid mode, at the ACPR (4 Pl. de Budapest - 75009 Paris) and will also be streamed online.

(Free) registration (for both in person or online participation) is compulsory by mail at chaireACPR@acpr.banque-france.fr

If you opt for online participation, the connection details will be sent to you in the following days.

TO CONTACT US 

Article 2021

Article 2022

 

 

Publication Seminars
Cyber insurance: insurability and accumulation scenarios

With the increasing number of cyber attacks, the development of cyber insurance products are essential to the resilience of the economic fabric, and an opportunity for insurers to develop a new market. On the other hand, risk management of cyber...

  • Published on 09/15/2022
  • FR
  • PDF (907.26 KB)
Publication Seminars
Personal Taxes, Cost of Insurer Equity Capital, and the Case of Offshore Hedge Fund Reinsurers

Insurance companies have large holdings of financial securities that generate returns that are taxed at both the corporate and personal levels in the U.S. If the same securities were held by a pass-through entity such as a mutual or hedge fund, the...

  • Published on 09/05/2022
  • FR
  • PDF (544.18 KB)
Publication Seminars
Loan Guarantees, Bank Lending and Credit Risk Reallocation

We investigate whether government credit guarantee schemes, extensively used after the onset of the Covid-19 pandemic, led to substitution of non-guaranteed with guaranteed credit rather than fully adding to the supply of lending. We study this issue...

  • Published on 09/05/2022
  • FR
  • PDF (1.03 MB)
Publication Seminars
Measuring Regulatory Complexity

Despite a heated debate on the perceived increasing complexity of financial regulation, a comprehensive framework to study regulatory complexity is lacking. We propose one inspired by the analysis of algorithmic complexity in computer science. We use...

  • Published on 04/26/2022
  • FR
  • PDF (2.74 MB)
Publication Seminars
The Value of “New” and “Old” Intermediation in Online Debt Crowdfunding

We study the welfare effects of the transition of online debt crowdfunding from the older “peer-to-peer” model to the “marketplace” model, where the crowdfunding platform sells diversified loan portfolios to investors. We develop an equilibrium model...

  • Published on 03/25/2022
  • FR
  • PDF (789.9 KB)
Publication Seminars
Auctions for new and undiversifiable risks

This paper explores how insurance companies can coordinate to extend their joint capacity for the coverage of new and undiversifiable risks. The undiversifiable nature of such risks causes a shortage of insurance capacity and their limited knowledge...

  • Published on 03/25/2022
  • FR
  • PDF (808.33 KB)
Publication Seminars
The Fragility of Market Risk Insurance
  • Published on 01/27/2022
  • FR
  • PDF (347.94 KB)