16th Financial Risks INTERNATIONAL FORUM

The Institut Louis Bachelier, in cooperation with the Fondation du Risque, the Europlace Institute of Finance and the Louis Bachelier "Finance and Sustainable Growth" Laboratory, is pleased to invite you to the 16th Financial Risks International Forum.

What is the benefit of finance for society? Finance interacts with all parts of our daily lives, politics and the economy. Numerous economic theories have emphasized the crucial role played by the financial sector to our society: managing risks, allocating capital, providing price signals, reducing agency issues, benefitting economic development. But economists’ views are not necessarily shared by society at large. After the Subprime crisis, trust in banks dropped. Finance is perceived as a rent- seeking activity. Defi is developed as an alternative to traditional finance.

It is difficult to restore trust, despite advances in regulation and the development of sustainable finance. This upcoming 16th Financial Risks International Forum aims to discuss the interactions between finance and society, and the contributions of financial innovations, regulation, green finance and financial technology to our society.

2023 Guest Speakers are:
   •Pierre MONNIN, Senior Fellow with the Council of Economic Policy, Visiting Professor in Practice, London School of Economics.
   •David THESMAR, Franco Modigliani Professor of Financial Economics, MIT
   •Tarun RAMADORAI, Professor of Financial Economics, Imperial College London
  

15th Financial Risks INTERNATIONAL FORUM

Online event

The Institut Louis Bachelier, in cooperation with the Fondation du Risque, the Europlace Institute of Finance and the Louis Bachelier "Finance and Sustainable Growth" Laboratory, is pleased to invite you to the 15th Financial Risks International Forum.

Climate change is one of the key challenges of our time. Addressing climate change and transitioning the world’s economy to a low-carbon path will require support from the financial sector through energy and infrastructure investments, the creation of new financial products and insurance solutions. It will also require the development of new models to assess the interactions between climate and the economy, the measurement of climate physical / transition risk and its incorporation into asset prices, the assessment of investors’ attitudes and beliefs towards these risks. Finally, financial institutions are interconnected, and climate change is posing a serious threat to financial stability. Central banks and regulators are requesting financial institutions to disclose their climate risk exposure and have started to design scenarios for climate stress tests.

Covid-19, Learning from a Pandemic Crisis ?:
Hundreds of papers on the analysis of pandemic risk and its effects on the economy or the finance and insurance sector, have been published in 2020 in paper series such as COVIDECON, or in special issues of economic, financial and statistical journals. What can we learn from this literature to improve the standard behavioral, predictive, and pricing models used in finance, default analysis, or for the design of insurance contracts?

2021 Guests Speakers are:

Stefano GIGLIO, Professor of Finance at Yale School of Management
Irene MONASTEROLO, Professor of Climate Finance at EDHEC Business School and EDHEC-Risk Institute
Lucian TAYLOR, Professor of Finance, Wharton School, University of Pennsylvania

14th Financial Risks INTERNATIONAL FORUM

Online event

The Institut Louis Bachelier, in cooperation with the Fondation du Risque, the Europlace Institute of Finance and the Louis Bachelier "Finance and Sustainable Growth" Laboratory, is pleased to invite you to the 14th Financial Risks International Forum.

In these circumstances marked by the Covid-19 crisis, the Financial Risks International Forum will exceptionally be held in a virtual format. In the current context, this year's forum will focus on two themes :

FinTechs:
Digitalization is reshaping economic and financial activities. Start-ups and technology firms are disrupting conventional banks and insurance companies by introducing new forms of payment (mobile, peer-to-peer), money (crypto and digital currencies), lending (peer-to-peer, crowdfunding) and advice (digital and robo). Advances in computing have enabled the use of new datasets (such as online consumer transactions, social networks or satellite images) and forecasting techniques, with extensive use of machine/deep learning techniques. These technological changes can deliver significant benefits to financial services. Network platforms simplify business and clients’ interactions, but they also modify the competitive landscape, give rise to new risks for borrowers, consumers and investors, and potentially challenge financial stability.

Covid-19, Learning from a Pandemic Crisis ?:
Hundreds of papers on the analysis of pandemic risk and its effects on the economy or the finance and insurance sector, have been published in 2020 in paper series such as COVIDECON, or in special issues of economic, financial and statistical journals. What can we learn from this literature to improve the standard behavioral, predictive, and pricing models used in finance, default analysis, or for the design of insurance contracts?

2021 Guests Speakers are:

Christian GOLLIER, Toulouse School of Economics
Dacheng XIU, University of Chicago

13th Financial Risks INTERNATIONAL FORUM

Paris, March 16 & 17, 2020

The Institut Louis Bachelier, in cooperation with the Fondation du Risque, the Europlace Institute of Finance and the Louis Bachelier "Finance and Sustainable Growth" Laboratory, is pleased to invite you to the 13th Financial Risks International Forum.

In the current context, this year's forum will focus on “The Rise of Fintechs: Can Networks and Platforms Disrupt traditional Financial Intermediation?”

This upcoming 13th Financial Risks International Forum aims to highlight the methodological and regulatory challenges raised by the on-going developments in financial technologies.

Digitalization is reshaping economic activity, especially in the financial sector. Start-ups and technology firms are disrupting conventional banks and insurance companies by introducing new products and technologies, such as new forms of payment (mobile, peer-to-peer), money (crypto and digital currencies), lending (peer-to-peer, crowdfunding) and advice (digital and robo), frequently offered on network platforms. Advances in computing have enabled the use of new datasets (such as online consumer transactions, social networks or satellite images) and forecasting techniques, with extensive use of machine/deep learning techniques. These technological changes have the potential to deliver significant benefits to financial services. Network platforms simplify business and clients’ interactions, but they also modify the competitive landscape, give rise to new risks for borrowers, consumers and investors, and potentially challenge financial stability.

2020 Guests Speakers are:

Denis BEAU, Deputy Governor, Banque de France
Roni MICHAELY, Professor of Finance, University of Geneva
Dacheng XIU, Professor of Econometrics and Statistics, University of Chicago

12th Financial Risks INTERNATIONAL FORUM

Paris, March 18 & 19, 2019

CHAMBRE DE COMMERCE ET D’INDUSTRIE DE RÉGION PARIS ILE-DE-FRANCE 27, avenue de Friedland, 75008 PARIS, FRANCE

The Institut Louis Bachelier, in cooperation with the Fondation du Risque, the Europlace Institute of Finance and the Louis Bachelier "Finance and Sustainable Growth" Laboratory, is pleased to invite you to the 12th Financial Risks International Forum.

In the current context, this year's forum will focus on “Low Interest Rate Environment: Search for Yield, Risk Management and Transitions”

The aim of this 12th Financial Risks International Forum is to highlight the methodological and regulatory challenges confronting financial players in a low interest rate environment and the transition to a ‘new normal’.

Interest rates in major developed countries have reached historically low levels. Risk premia of traditional asset classes reduced significantly. In this environment, banks, insurance companies and institutional investors face the challenge of generating sufficient returns to meet their commitments. They are tempted to turn to alternative asset classes or riskier investment strategies. The compression of yields leads to competitive pressure on costs and the development of new, less regulated players. This exceptional situation, by historical standards, raises important questions on interest rate modeling, monetary policy effectiveness, the construction of adapted stress tests, financial institutions’ risk-taking behavior, and the impact of low rates on price trajectories and financial stability.

2019 Guests Speakers are:

●John FELL, Deputy Director General for Macroprudential Policy & Financial Stability, European Central Bank

●Victoria IVASHINA, Professor of Finance, Harvard Business School

●Raimond MAURER, Professor of Finance, Goethe University, Frankfurt

11th Financial Risks INTERNATIONAL FORUM

Paris, March 26 & 27, 2018

CHAMBRE DE COMMERCE ET D’INDUSTRIE DE RÉGION PARIS ILE-DE-FRANCE 27, avenue de Friedland, 75008 PARIS, FRANCE

The Institut Louis Bachelier, in cooperation with the Fondation du Risque, the Europlace Institute of Finance and the Louis Bachelier "Finance and Sustainable Growth" Laboratory, is pleased to invite you to the 11th Financial Risks International Forum.

In the current context, this year's forum will focus on "Emerging Extra-Financial Risks In Finance And Insurance".

The purpose of this 11th Financial Risks International Forum is to highlight new methodological approaches for assessing the emerging risks that are currently affecting the Finance and Insurance sectors.

New risks, such as climate risks, demographic risks and cyber risks, have emerged and require new tools and methodologies to evaluate them. The balance sheets of financial institutions, companies and governments are highly exposed to these risks, and regulators have recently raised concerns about their impact on financial stability. Do financial markets have enough experience in dealing with these emerging risks and do they assess and price them adequately? Are these risks diversifiable and insurable? What financial products need to be developed to transfer them? What might the role of regulators and central banks be in designing stress tests, regulatory incentives and in promoting disclosure requirements?

2018 Guests Speakers are:

CYBER RISK
Ross Anderson, Cambridge University

LONGEVITY RISK
David Blake, Cass Business School

CLIMATE RISK
Lars Peter HANSEN, University of Chicago, 2013 Nobel Prize in Economics.

10th Financial Risks INTERNATIONAL FORUM

Paris, March 26 & 27, 2017

CHAMBRE DE COMMERCE ET D’INDUSTRIE DE RÉGION PARIS ILE-DE-FRANCE 27, avenue de Friedland, 75008 PARIS, FRANCE

The Institut Louis Bachelier, in cooperation with the Fondation du Risque, the Europlace Institute of Finance and the Louis Bachelier "Finance and Sustainable Growth" Laboratory, is pleased to invite you to the 10th Financial Risks International Forum.

In the current context, this year's forum will focus on "RETAIL FINANCE AND INSURANCE: Impact of Technical Innovation, Through Majors and FinTech".

The aim of this conference is the digital revolution under way in financial services. Technical innovations lead to the creation of new and possibly cheaper services that are readily available for individuals through web platforms or mobile apps.

New databases, new forms of payment processing, trading platforms, peer-to- peer lending platforms and robo-advisors are fast developing and democratizing financial services. They also raise many questions. How can we design safe and understandable financial products available for the largest number of individuals? What will be the consequences of fintech development on traditional banks and insurance companies?

How are consumers to be protected? How can fintech be regulated? What will be the macroeconomic consequences of its development? This upcoming Financial Risks International Forum aims to highlight the methodological and regulatory challenges raised by the on-going developments in financial technologies.

2017 Guests Speakers are :

Fatih GUVENEN, Professor of Economics, University of Minnesota.
Campbell HARVEY, Professor of Finance, Duke University.
Nicholas POLSON, Professor of Econometrics and Statistics, University of Chicago.
Lars Peter HANSEN, University of Chicago, 2013 Nobel Prize in Economics.

9th Financial Risks INTERNATIONAL FORUM

Paris, March 21 & 22, 2016

CHAMBRE DE COMMERCE ET D’INDUSTRIE DE RÉGION PARIS ILE-DE-FRANCE 27, avenue de Friedland, 75008 PARIS, FRANCE

The Institut Louis Bachelier, in cooperation with the Fondation du Risque, the Europlace Institute of Finance and the Louis Bachelier "Finance and Sustainable Growth" Laboratory, is pleased to invite you to the 9th Financial Risks International Forum. In the current context, this year's forum will focus on "NEW CHALLENGES FACING THE INVESTMENT MANAGEMENT INDUSTRY".

The aim of this conference is to highlight the methodological and regulatory challenges confronting the investment management industry. The financial crisis and its aftermath have resulted in reflection on the tools and practices of investment managers. The economic and financial environment is challenging, marked by low interest rates, increased volatility, and new economic and demographic risks.

Standard practices such as the use of traditional risk management models, benchmarks, quantitative backtests, are being called into question. End investors require more governance and socially responsible investment practices. Regulatory complexity is a constantly evolving concern for the industry. Questions have been raised about potential incentive problems created by delegated management, and financial stability risks posed by the asset management industry.

2016 Guests Speakers are :

Pierre COLLIN-DUFRESNE, Professor at the Swiss Finance Institute, former professor at Columbia University, NY, also worked at Goldman Sachs, editor of a large number of prestigious financial reviews including the Journal of Finance, Journal of Financial Quantitative Analysis and Review of Financial Studies. Panel session 2: Active Ownership, Engagement and Voting David

LAWTON, Director of the Markets Division at the Financial Conduct Authority, UK, member of the board of ESMA and formerly Head of Capital Markets and Governance at Her Majesty's Treasury. Panel session 1: Systemic Risk Posed by Investment Funds and Financial Regulation

Richard ROLL, Professor at University of California Los Angeles School of Management, former president of the American Finance Association and associate publisher of 11 financial and economics reviews. Panel session 3: Smart Beta and Factor Investing

8th Financial Risks INTERNATIONAL FORUM

Paris, March 30 & 31, 2015

CHAMBRE DE COMMERCE ET D’INDUSTRIE DE RÉGION PARIS ILE-DE-FRANCE 27, avenue de Friedland, 75008 PARIS, FRANCE

The Institut Louis Bachelier, in cooperation with the Fondation du Risque, the Europlace Institute of Finance and the Louis Bachelier "Finance and Sustainable Growth" Laboratory, is pleased to invite you to the 8th Financial Risks International Forum. In the current context, this year's forum will focus on "SCENARIOS, STRESS AND FORECASTS IN FINANCE".

The aim of this conference is to highlight the methodological and regulatory challenges posed by the question of making scenarios, stress tests and forecasts in finance. Stress testing is becoming a widely used tool, not only for risk management, but also to assess global vulnerabilities in a financial system.

Regulatory guidelines on stress testing require financial institutions to build models and make scenarios for macro and micro stress testing. Accurately forecasting and making an optimal use of these forecasts for investment decisions pose renewed challenges to the investment management industry.