Risk Lessons from FTX

FTX postmortems have included Axios describing the cryptocurrency exchange as a “house of cards” comparable to Enron, Theranos, Bear Stearns, Lehman Brothers and Madoff Investment Securities. Plus, Moody’s writes the collapse “will radically transform the crypto ecosystem, further shaking trust and raising doubts around its ongoing prospects.”

MFDF and the University of Maryland Robert H. Smith School of Business will host an one-day programs on all things ESG oversight for fund boards in Washington, DC. From SEC new and proposed rules, industry data requirements, sustainability rating structures, and oversight responsibilities for fund boards.

Please check back soon for the agenda.

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Several University of Maryland Researchers Meet at Smith to Talk Climate Finance

Supply chain risks from weather and climate, financing infrastructure risk reduction, and how measurement affects management when it comes to climate reporting were among the topics discussed at the Smith School on October 27 and 28, 2022. Roughly 30 participants, including University of Maryland professors, students, and representatives from financial institutions like the World Bank, T. Rowe Price, and PricewaterhouseCoopers were in attendance. 

A Climate Change Call to Arms for Risk Modelers

Hurricane Ian is now a tropical storm, but estimates for the storm’s Florida landfall included a million-plus homes at risk for damage, with overall damages and losses expected to top $67 billion, according to Bloomberg.

Smith, UMD Experts to Discuss New Approach to Quantifying Financial Impacts of Climate Change

Experts from the University of Maryland and the investment management firm Conning will discuss a new approach to modeling climate risk to financial markets, in a free webinar at 9 a.m. Thursday, Sept. 22, 2022, hosted by the Center for Financial Policy (CFP) at UMD’s Robert H. Smith School of Business.

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.

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Jamie Dimon Blasts Fed’s Stress Test. Smith’s Clifford Rossi Partially Agrees, Explains

The Federal Reserve’s bank stress test is “capricious” and “arbitrary.” . . . “It’s inconsistent. It’s not transparent. It’s too volatile.” These descriptors came late last week from JPMorgan Chase CEO Jamie Dimon during his bank’s quarterly earnings call. It was a response to results of the latest, annual stress test – the Fed’s response to the 2008 financial crisis to help ensure that large, systemically important banks have sufficient capital buffers to withstand future crises.

Musk’s Buyer’s Remorse and Potential Deal Outcomes

Elon Musk’s move to abandon his $44 billion offer to buy Twitter has the company intent on forcing the deal through. Musk says the traffic of bots on the platform is prompting his decision in addition to his subsequent dispute with Twitter over how much data the social network should share toward answering his inquiries about these non-human accounts.

Are Corporate Profits Driving Inflation?

Consumers are feeling the effects of the highest inflation rates in decades, particularly on essentials like groceries and gas, while many big companies are reporting record profits. That dichotomy is angering a lot of Americans and public officials. But corporate greed isn’t to blame for inflation, says Maryland Smith finance professor Michael Faulkender.

Liquidity and Capital Risk Webinar Set for July 20

COLLEGE PARK, Md. – June 30, 2022 – The Center for Financial Policy at the University of Maryland’s Robert H. Smith School of Business, and Deloitte, will present a Liquidity and Capital Risk Webinar for financial professionals, from 9-10 a.m. Wednesday, July 20, 2022.

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