The Research Initiative (in French "Initiative de Recherche") "Regulation and Systemic Risks" 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:

• Systemic risks and long run risks.
• Impact of the new technologies and complexity.
• Cyber risk and systemic risk of financial institutions.
• Banking regulation.
• Central clearing.
• Risk modelling and risk management.
• Challenges of the competition between banks (concentration of the banking sector).
• Design of insurance contracts.
• Epidemiological risks.
• Climate risk (climate risk and scenario analysis, impacts and associated financial risks, stress tests, ESG factors, governance, …etc.).
• Fairness of Artificial Intelligence (AI) algorithms used in finance and insurance.

The Research Initiative 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 (seminars, research projects, publications…) and by a policy committee that settles median term objectives and approves proposals from the steering committee.

The members of the steering committee are Laurent Clerc (Research Director at ACPR, representative of ACPR), Sophie Moinas (TSE, co-chairwoman of the Research Center), Christophe Pérignon (HEC Paris, co-chairman of the Research Center) and Cyril Pouvelle (Head of the Research Unit at ACPR, representative of ACPR), Fulvio Pegoraro and Stefano Ungaro (representative of ACPR economists).