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Séminaire mensuel de la Chaire ACPR « Régulation et Risques Systémiques »

 

Le séminaire de la Chaire ACPR, organisé mensuellement, se concentre sur les questions de régulation et de risque systémique pour les banques et les organismes d’assurance. Cette page présente les éléments relatifs aux événements, passés ou à venir, ainsi que les modalités de participation.

Le séminaire de la Chaire ACPR se déroule habituellement le premier mercredi de chaque mois de 10h30 à 12h à l’ACPR : 4 rue de Budapest, Salle Liège (rez-de-jardin).

Le séminaire est ouvert à tous. L’inscription par mail à chaireACPR@acpr.banque-france.fr est gratuite mais obligatoire pour y assister. Si vous souhaitez être informés des prochains évènements, merci d’envoyer un mail à la même adresse.

La Direction des Études de l’ACPR organise également des séminaires indépendants : la page dédiée aux séminaires de recherche organisés par l’ACPR est accessible ici.

 

PROCHAIN ÉVÉNEMENT

Mercredi 2 octobre 2024, 10h30 – 12h

Oussama Houari (Université de Nantes) présentera

“Climate Risks and Economic Activity in France : Evidence From Media Coverage”
 

Abstract:

Abstract: This study investigates the impact of climate risks on economic activity in France. Using natural language processing methods on three major French newspapers (Le Monde, Les Echos, and Le Figaro) in 2000-2023, we construct a measure of climate risks that we disentangle into physical- and transition-risk components. Our findings highlight several transmission channels through which climate risks affect the economy: the business cycle channel, the precautionary savings channel, the inflation channel, and the banking/credit channel. Moreover, while we document the existence of heterogeneous responses to our measures of physical and transition risks, we find that the tone of media covering climate risks matters beyond the frequency of published articles. Our findings show that the media plays a crucial role in influencing public beliefs about climate change related issues.

 

Ce séminaire aura lieu en mode hybride (le séminaire se tiendra à l’ACPR : 4 Place de Budapest, 75009 Paris avec possibilité de suivre en distanciel)

L’inscription (gratuite) est obligatoire (pour les 2 modes de participation) par mail à chaireACPR@acpr.banque-france.fr

Si vous optez pour le mode visio, le lien de connexion vous sera envoyé prochainement

- Pour nous contacter

- Article

 

DERNIER ÉVÉNEMENT

Mercredi 4 septembre 2024, 10h30 – 12h

Gyöngyi Lóránth (University of Vienna et CEPR) présentera

“Common Deposit Insurance, Cross-Border Banks and Welfare

Abstract:

We study the effects of the introduction of a supranational authority responsible for common deposit insurance in a model of cross-border banks with both endogenous risk-taking and within-group risk-sharing possibilities. With national deposit insurance, local authorities inefficiently ring-fence resources flowing from healthy to impaired subsidiaries for high asset correlation. The anticipation of ring-fencing discourages cross-border bank integration. Common deposit insurance removes ring-fencing and encourages cross-border integration, but has an ambiguous impact on the banks' risk-taking incentives. Overall, common deposit insurance increases welfare when banks are sufficiently risky, but otherwise can lead to excessive cross-border integration and lower welfare.

 

Ce séminaire aura lieu en mode hybride (le séminaire se tiendra à l’ACPR : 4 Place de Budapest, 75009 Paris avec possibilité de suivre en distanciel)

L’inscription (gratuite) est obligatoire (pour les 2 modes de participation) par mail à chaireACPR@acpr.banque-france.fr

Si vous optez pour le mode visio, le lien de connexion vous sera envoyé prochainement

- Pour nous contacter

- Article

- Compte-rendu

Publication Chaire ACPR régulation et risque systèmique
The state-dependent impact of changes in bank capital requirements

Based on a non-linear equilibrium model of the banking sector with an occasionally-binding equity issuance constraint, we show that the economic impact of changes in bank capital requirements depends on the state of the macro-financial environment. In ...

  • Publié le 12/10/2023
  • FR
  • PDF (2.74 Mo)
Publication Chaire ACPR régulation et risque systèmique
Assessing the Impact of Basel III on European Bank Lending

The failures of the banking sector to promote sustainable lending and build substantial capital and liquidity buffers prior to the 2008 Financial Crisis addressed the rationale for implementing Basel III. In this paper, we question the fundamental role...

  • Publié le 12/10/2023
  • FR
  • PDF (443.88 Ko)
Publication Chaire ACPR régulation et risque systèmique
International banking regulation and Tier 1 capital ratios. On the robustness of the critical average risk weight framework

Under Basel III, the current international banking regulation, banks must maintain two Tier 1 capital ratios that treat risky assets differently. The Basel Committee uses the critical average risk weight (CARW) framework developed by the Bank of...

  • Publié le 13/09/2023
  • FR
  • PDF (665.51 Ko)
Publication Chaire ACPR régulation et risque systèmique
Incomplete supervisory cooperation

Banking supervisors frequently cooperate across countries, but cooperation only imperfectly covers the global operations of large banking groups. We show that this causes significant third-country externalities. Using hand-collected supervisory...

  • Publié le 22/08/2023
  • FR
  • PDF (2.7 Mo)
Publication Chaire ACPR régulation et risque systèmique
The Effect of Mandatory ESG Disclosure Around the World

We compile a novel dataset on mandatory environmental, social, and governance (ESG) disclosure around the world to analyze the stock liquidity effects of such disclosure mandates. We document a significant positive effect of ESG disclosure mandates on...

  • Publié le 22/08/2023
  • FR
  • PDF (1.86 Mo)
Publication Chaire ACPR régulation et risque systèmique
Financing and Resolving Banking Groups

We study how banks’ resolution regimes affect investment. Banking groups create financing synergies by transferring excess financing capacity across units and lowering bankers’ agency rents from monitoring. Single-point-of entry (SPOE) resolution...

  • Publié le 16/05/2023
  • FR
  • PDF (774.54 Ko)
Publication Chaire ACPR régulation et risque systèmique
Don’t Lead Me This Way: Central bank guidance at the age of climate change

Since the adoption of the Paris Agreement in 2015, climate change has been extensively acknowledged worldwide as a cause of perturbations for our economic structure, and a cause of disruption of our financial system. The increasing number of...

  • Publié le 04/04/2023
  • FR
  • PDF (269.4 Ko)
Publication Chaire ACPR régulation et risque systèmique
Green investment and asset stranding under transition scenario uncertainty

We develop a real-options approach to evaluate energy assets and potential investment projects under transition scenario uncertainty. Dynamic scenario uncertainty is modelled by assuming that the economic agent acquires the information about the...

  • Publié le 21/02/2023
  • FR
  • PDF (1.86 Mo)
Publication Chaire ACPR régulation et risque systèmique
Bank Debt, Mutual Fund Equity, and Swing Pricing in Liquidity Provision

Liquidity provision is often attributed to debt-issuing intermediaries like banks. We show that mutual funds issuing demandable equity also provide liquidity by insuring against idiosyncratic liquidity shocks. Quantitatively, the average bond fund...

  • Publié le 12/01/2023
  • FR
  • PDF (873 Ko)
Publication Chaire ACPR régulation et risque systèmique
A climate credit risk model: a structural approach

We introduce a structural model to assess the climate transition risk associated to portfolios of corporate bonds and equity shares, conditioned to climate scenarios, such as those developed by the Network for Greening the Financial System (NGFS).We...

  • Publié le 12/01/2023
  • FR
  • PDF (214.68 Ko)