Is It Time for Financial Climate Risk Regulation?
Financial institutions should be accounting for climate change, but risk models currently are insufficient for regulators to mandate climate stress testing or capital requirements, Maryland Smith’s Clifford Rossi said this week, speaking to the Subcommittee on Consumer Protection and Financial Institutions in the U.S. House of Representatives.
The End of the Antitrust Case Against Facebook?
SMITH BRAIN TRUST – Facebook isn’t going to be broken up just now. In a stunning ruling this week, a federal judge dismissed antitrust lawsuits brought against the social media behemoth by the Federal Trade Commission and some 46 states.
Maryland Smith’s Serhiy Kozak Wins Journal of Financial Economics Best Paper Prize
Maryland Smith’s Serhiy Kozak won the 2020 Fama-DFA Prize for the best paper published in the Journal of Financial Economics in the area of capital markets and asset pricing. Kozak’s research, “Shrinking the Cross Section,” was published in the February 2020 issue of the journal.
Maryland Smith’s Pellegrino Wins Western Finance Association’s Best Paper Award
Maryland Smith’s Bruno Pellegrino won the 2021 Charles River Associates Award for the best paper on corporate finance, announced June 17 at the Western Finance Association’s annual conference. Pellegrino’s research looks at the rise of oligopolies in the United States with a groundbreaking new model for economists to more accurately measure competition in U.S. markets and the consequences for consumers.
What’s Ahead for Mortgage Rates?
What’s ahead for mortgage rates? There will be movement, says Maryland Smith’s Clifford Rossi, the question is: How much? Rossi says he expects the 30-year fixed-rate mortgage rate to remain low by historical standards, but not as low as it is now. He says the 30-year mortgage rate is likely to rise to 3.5-3.6% by year-end, from the current 2.7%. The 15-year mortgage rate, he says, could also rise to 2.5-2.6%, from the current 2.1%.
Buying and Selling a House in a Hot Market
SMITH BRAIN TRUST – In the housing market, 2021 is shaping up to be the year of the bidding war. In the United States, prospective home buyers are facing fierce competition for limited inventory, as low mortgage rates and pent-up demand drives a seller’s market. Homes for sale are seeing multiple offers, often above the asking price and above appraised value.
What data and analytics do we need to understand climate change as a systemic risk to the financial system? Climate risks have become a major issue of concern for regulators, monetary authorities and investors. Many organizations have launched initiatives to try to understand how climate risks could impact asset valuations and generate instability of the financial system, notwithstanding some efforts the methods needed to operationalize climate risk analysis and risk management are underdeveloped and require urgent attention.
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Transparency is Key
Investors, policymakers and consumers are all grappling with the same issues when it comes to ESG, sustainability and what it means to be “green.”
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In this inaugural webinar series for federal risk managers, Maryland Smith's Dr. Clifford Rossi will interview Gregory Keith, the Chief Risk Officer of Ginnie Mae. Ginnie Mae is one of the major market participants in the secondary market for federally insured mortgage-backed securities and in that process is exposed to a number of risk issues.
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Join the CFP and Federal Reserve Board of Governors for their Fourth Annual Short Term Funding Markets Conference. This event brings together researchers, regulators and others interested in related topics, with a broad interest in liquidity transformation and funding provision by banks, dealers and money market funds, as well as structure and network of short-term funding markets. This year’s topics include:
- Fragility in Repo Markets
- Fintech Lenders
- Safe Assets
- Liquidity Management
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