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Empowering the public to assess large bank resiliency

October 19, 2020
11:00 a.m. - 1:00 p.m. CT
Virtual video event

Empowering the public to assess large bank resiliency
Detailed key

Providing transparency into the health of the nation’s largest banks

Twelve years ago, the economy was devastated by the failure or near failure of many of the nation’s largest banks. A taxpayer-funded bailout, together with a stress test assessment that gave the public a view of the true financial condition of these large banks, brought the financial crisis to an end.

Today, as the country struggles to contain the spread of COVID-19, there is enormous uncertainty about the path of the economy and the true condition of the nation’s largest banks. The public’s ability to assess these large banks is limited, even though taxpayers could be responsible for any future government bailouts.

What tools and information would best equip the public to make these judgments? What government policies could ensure transparency into the financial condition of the largest banks? How can these efforts reduce the chance of future bailouts?

In light of these challenges, the Federal Reserve Bank of Minneapolis will convene leading voices on bank condition assessments, stress tests, and the need for transparency to discuss ways to empower the public to make their own assessments of the strength of large banks. We will also discuss our recently launched stress test tool designed to provide transparency to the public about the state of our financial system.

Event Details

11:00 a.m. - 1:00 p.m. CT
Virtual video event

Event Agenda

Monday, October 19, 2020

11:00 a.m. CT Welcome and overview

Neel Kashkari, President, Federal Reserve Bank of Minneapolis

11:05 a.m. CT Keynote: Stress tests and transparency

Sir John Vickers, Professor of Economics and Warden All Souls College, University of Oxford

11:45 a.m. CT Panel: Empowering the public to assess the condition of the largest banks
  • Stephen Cecchetti, Professor of Economics, Brandeis University
  • Lisa Donner, Executive Director, Americans for Financial Reform
  • Beverly Hirtle, Director of Research, Federal Reserve Bank of New York
  • Deborah Lucas, Professor of Finance, MIT Sloan School of Management
  • Adi Sunderam, Professor of Business Administration, Harvard Business School
  • Moderator: Ann Saphir, Reporter, Reuters News
12:45 p.m. CT Conclusion: Where do we go from here?

Ron Feldman, First Vice President, Federal Reserve Bank of Minneapolis