Mission and governance


The research Initiative (in French "Initiative de recherche") "Regulation and Systemic risk" has for main objectives to organize research activities, to ease meeting between academia and ACPR, and to foster an international team focused on analysis of systemic risk, as well as proposal on its supervision.

The research topics combine macroprudential issues on microprudential foundations. Following topics are particularly welcome:

  • environement of persistent low interest rates,
  • surrender and lapse,
  • funding liquidity,
  • longevity,
  • credit allocation,
  • regulatory formula discrepancy,
  • calibration of basel formula,
  • systemic rating,
  • SIFIs identification,
  • sovereign debt…



The Research Initative Regulation and Systemic risk is hosted by Fondation du Risque. The research center is managed by a steering committee in charge of the usual activity (seminar, research project, publications…) and by a policy committee that settles median term objectives and approves proposals from the steering committee.

The members of the policy committee are Olivier de Bandt (Research Director at ACPR), Julien Pouget (Director of ENSAE ParisTech), Pascal Chevalier (Director of ENSAI), Jean-Michel Beacco (representative of Fondation du Risque), Bruno Bouchard-Denise (representative of Laboratoire d’Excellence of ENSAE-CREST, Ecole Polytechnique and HEC), Christian Gouriéroux (chairman of the Research Center) and Christophe Pérignon (deputy chairman of the Research Center).

The members of the steering committee are Olivier de Bandt (Research Director at ACPR, representative of ACPR), Henri Fraisse (Head of the Research Unit at ACPR), Christian Gouriéroux (CREST, chairman of the Research Center), Christophe Pérignon (HEC Paris, deputy chairman of the Research Center), Jean-David Fermanian (ENSAE-CREST, researcher), Stéphane Auray (ENSAI-CREST, researcher) et Jean-Cyprien Héam (ACPR-CREST, economist).

Updated on: 07/12/2018 15:28