Center for Financial Policy

The Leading Center for Financial Policy, Research and Education

The Center for Financial Policy leverages the Smith School’s world-renowned faculty, leading research, and proximity to Washington, D.C. to promote a collaborative exchange of ideas on the key issues that affect financial markets.

The center’s annual conferences with the Securities and Exchange Commission and Federal Reserve anchor its schedule of premier events.

Watch a short video from Russell Wermers, Paul J. Cinquegrana ’63 Endowed Chair in Finance and director of the Center for Financial Policy, on the center's mission.

JOIN THE CFP’S MAILING LIST TO BE NOTIFIED OF ALL OF OUR UPCOMING EVENTS.

Sixth Annual Short-Term Funding Markets Conference

May 19, 2023 | Washington, D.C.

The Second Objective Function

Quantifying the Financial Impacts of Climate Change
September 22, 2022

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The growing threats of extreme weather and climate tipping points create risks to financial markets in the next five to ten years that current climate scenarios do not capture.

We introduce a class of stochastic sector-specific damage functions to capture the probabilities of significant events, notably extreme weather and climate tipping points. Using these models will show material climate-related risks for insurance and pension fund asset allocations in the next five to ten years.

Watch our entire series on climate change and ESG

Climate Finance and Risk Management

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Learn about climate and integrated assessment models, their strengths and weaknesses and how to use them when assessing physical and transition risks.

CFP-UBS Quant Insight Series

Modern portfolio management is built on quantitative analysis. We examine the key issues driving financial markets from a quantitative perspective.

Watch our recent events:

The future of investment management and the opportunities for active managers with Ronald N. Kahn and Russ Wermers
The Best Strategies for Inflationary Times with Campbell R. Harvey

Upcoming Event

Annual UBS-CFP Quantitative Investing Conference: A Brave New World – Opportunities and Threats
Note: this is an invitation-only event

When: September 28-29, 2022
Where: UBS Headquarters, New York, NY

Did you miss the Ninth Annual Conference on Financial Market Regulation?

Watch it now

Reflections on the 50-year Anniversary of the Index Fund

Russ Wermers, Director of the Center for Financial Policy sits down with Robin Wigglesworth, FT’s Global Finance Correspondent, to reflect on the rise and future of the index fund and discuss Robin’s latest book, Trillions.

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Risk Management

Financial Stability Analysis & Data

Watch the video for our third event in this series on financial stability and data gaps where we examine why the new administration could take a fresh approach to the OFR, held on March 24, 2021.

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The ‘Narrative Economics’ Playing Out Now

“Stories abound in life,” Maryland Smith’s Russell Wermers said, opening a webinar discussion Tuesday. The topic: Narrative economics, with Nobel laureate Robert Shiller.

READ THE MONTHLY LONGBRAKE LETTER.

Maryland Smith’s Russ Wermers Named to SEC Advisory Committee

Maryland Smith finance professor Russ Wermers was selected by the Securities and Exchange Commission to serve on its new Asset Management Advisory Committee, formed to offer advice and recommendations to the SEC on how regulations and industry trends impact investors.

QUESTIONS? EMAIL US AT RHSMITH-CFP@UMD.EDU.