Where the data gaps that present risks to financial markets and the economy lie.
Federal Reserve Vice Chair of Supervision, Randal Quarles, and Stanford Business professor, Darrell Duffie will discuss the progress on financial stability analysis and data needs since the 2008 financial crisis, what additional gaps the current crisis reveals, and the key issues going forward.
Despite the progress over the last 10 years, there remains unfinished business to get the data needed to analyze financial contagion risks, as the financial stability board noted in their 2019 data gaps report.
Many long-standing issues regarding data needs and gaps, standards, confidentiality, governance and infrastructure remain only partially resolved. In addition, the current crisis highlights important missing information on:
- Interconnections between the financial and non-financial sectors, where credit and liquidity stresses are so large at present and,
- The role of banks vs. non-banks in liquidity and credit provision to small businesses and households.
This discussion is the first in a series exploring the key issues that drive financial stability analysis for researchers and policymakers. Future expert session webinars will discuss key areas for improvement including data standards, sharing, infrastructure and governance.
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