ACPR research seminars
The ACPR Studies Department organizes a series of academic seminars where invited or ACPR-affiliated researchers present their work on regulatory or financial risk issues. The seminars are open to everyone.
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Registration by email at seminaire-recherche-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 also hosts the monthly seminars of the ACPR research Initiative: the page dedicated to the ACPR seminars is available here.
NEXT EVENTThursday 19 september 2024 at 3pm: théo nicolas (ACPR/DEAR) "THE BRIGHT SIDE OF RELATIONSHIP LENDING: COOPERATIVE BANKS AND CORPORATE LOANS" Discussant: PIERLUIGI MURRO (LUISS) 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 SEMINAIRE-RECHERCHE-ACPR@acpr.banque-france.fr. If you opt for online participation, the connection details will be sent to you in the following days.
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Abstract :
This paper examines whether cooperative banks have different loan terms from commercial banks for corporate loans. We find that cooperative banks charge higher rates and require less collateral than commercial banks. However, we show that relationship lending has opposite effects on loan terms depending on the type of bank. Longer relationships reduce interest rates and collateral requirements for cooperative banks, but increase these lending conditions for commercial banks. Furthermore, we find that the beneficial effects of relationship lending for cooperative banks are amplified for financially fragile firms. We therefore support the view that cooperative banks are initially more expensive, but that relationship lending allows them to overcome this over time and ultimately pass on information gains to borrowers through better lending terms.
LASt EVENTTuesday 11 july 2023 at 10.30am: Eric Vansteenberghe (ACPR/DEAR) "Insurance Supervision under Climate Change: A Pioneers Detection MethOD" Discussant: Arthur Charpentier (Université du Québec à Montréal - UQAM) 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 SEMINAIRE-RECHERCHE-ACPR@acpr.banque-france.fr. If you opt for online participation, the connection details will be sent to you in the following days. |
Abstract :
This research introduces a novel supervisory tool, the Pioneers Detection Method, aimed at enhancing resilience in insurance markets dealing with the uncertainties of climate change. The paper builds on a theoretical model of an insurance market, where independent experts set premiums based on their individual risk evaluations. The segmented nature of the private insurance market hinders the understanding of the tail parameter of the loss distribution, and there's no direct way to eliminate bias, as extreme events are infrequent. The proposed supervisory tool uses temporal changes to consolidate expert opinions, pinpointing those who rapidly and accurately identify extreme climate-related events. The effectiveness of the Pioneers Detection Method is affirmed through a series of simulations, where it surpasses traditional pooling methods within a Bayesian framework. This supervisory approach also proves to be the most beneficial in improving welfare in a fragmented insurance market comprised of a few private insurance companies.
