LQG 2023/11/07 – 18:30 – Is stress testing worth the stress? – David Aikman – at Bloomberg – Hybrid

Is stress testing worth the stress?

Seminar by Professor David Aikman

7th November 2023 – In-Person and On-Line – Hybrid

The LQG is very grateful to Bloomberg for hosting this seminar.

Regulatory stress tests have been held up by many policymakers as a key post-2008 innovation in helping to protect and enhance the resilience of the financial system. But are these exercises still delivering the goods? I’ll explore three questions in this talk: First, are the results of regulatory stress tests credible? Second, are these exercises adding value or have they become just a tick-box exercise? Third, how do stress test practices need to evolve to make them useful?

 

David Aikman

Professor, King’s Business School
& Director of the Qatar Centre for Global Banking and Finance

David Aikman joined King’s Business School in April 2020 as Professor of Finance and Director of the Qatar Centre for Global Banking and Finance. Previously, he spent 17 years working as an economist at the Bank of England – most recently in the role of Technical Head of Division in the Financial Stability Strategy and Risk Directorate where he led the Bank’s work on various macroprudential issues.
Between 2013 and 2015, David was seconded to the Board of Governors of the Federal Reserve System in Washington DC, where he worked as an advisor in the Division of Financial Stability. In 2008, David was a Visiting Scholar at the Bank of Japan’s Institute for Monetary and Economic Studies. David has represented the Bank in various international fora, including meetings of the Financial Stability Board, the Basel Committee, and the European Systemic Risk Board.
He is the author of various research papers on financial stability and macroprudential policy, and has a Ph.D. in Economics from the University of Warwick.

David Aikman’s profile at King’s