What Can Insurers and Pension Funds Learn from Bank Failures – Expert Panel Discussion
Author
Gwen Weng, FSA, CERA, FCIA, CFA
Description
Over a short span of two weeks, the financial system has observed the collapse of two mid-sized U.S. commercial banks, California-based Silicon Valley Bank (“SVB”) and New York-based Signature Bank, and a takeover of troubled Credit Suisse by a rival in Europe. Other banks that serve a similar demographic as SVB, such as First Republic Bank and PacWest Bancorp, have also experienced an elevated level of customer deposit withdrawals while their stock prices plummeted. The U.S. Federal Deposit Insurance Corporation (FDIC) quickly stepped in and guaranteed all deposits from the failed banks to prevent a broader crisis in the banking system. The current turmoil in the financial system is a stark reminder of the importance of effective risk management and regulation.
Materials
What Can Insurers and Pension Funds Learn from Bank Failures – Expert Panel Discussion
Thank You
The researcher’s deepest gratitude goes to those without whose efforts this project could not have come to fruition, the panel participants, and the industry experts:
The panel participants:
David Bulin, FSA, Senior Actuarial Consultant at Actuarial Risk Management
Mary Pat Campbell, FSA, Insurance Industry Researcher at Conning
Hal Pedersen, ASA, Director, Actuarial Program at University of California, Santa Barbara
Max J. Rudolph, FSA, CFA, CERA, Rudolph Financial Consulting, LLC
At the Society of Actuaries:
David Schraub, FSA, CERA, MAAA, AQ, Senior Practice Research Actuary
The industry experts:
Larry Pollack, FSA, EA, Principal, LIP Consulting, LLC
Jeff Passmore, FSA, EA, CFA, VP Pensions & LDI Solutions Strategist, MetLife Investment Management
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