Capital allocation for operational risk: welcome remarks to a conference held November 14-16, 2001 at the Federal Reserve Bank of Boston
The conference provided a comprehensive understanding of current and evolving best practices in identifying, measuring, and modeling operational risk and in managing and mitigating this risk through capital allocation, insurance, and other existing and potential risk management tools. The conference presented the perspectives of practitioners in the banking, securities, and insurance industries, as well as supervisors and academic specializing in these sectors. The conference also identified and discussed possible solutions to barriers that may be impeding the development of new approaches.
Education is an issue that touches everyone, personally, professionally, and as citizens of our respective nations and the world. The Federal Reserve Bank of Boston has had a long involvement with education reform in Massachusetts and in Boston specifically. We do this out of a sense of community involvement, but also out of a real desire to improve the pool from which we draw a major share of our workforce. As we consider the challenges facing our country and the world, education, more so than almost anything else, is at once both at the heart of every problem and a part of every solution.
Managing risk in the 90's: what should you be asking about derivatives?
Derivatives are the fastest-growing financial instruments of our time. When used strategically, they can be very effective tools to mitigate risks. When used to speculate, that is, to bet on the inefficiency of financial markets, they can be trouble, especially if you are unaware that you are betting.> On April 28,1995 the Federal Reserve Bank of Boston held an educational forum entitled "Managing Risk in the '90s: What Should You Be Asking about Derivatives?" The daylong forum, presented by experts from nonfinancial corporations, investment and commercial banks, pension funds, issuers of ...
Reasons for optimism
President Minehan delivered these remarks during the July convening of the Bank's Community Development Advisory Council in Haverhill, Massachusetts.
This year's conference topic, "Seismic Shifts: The Economic Impact of Demographic Change," at first glance may seem of less than immediate relevance to the Federal Reserve System. As a central bank, we usually focus on developments that take place in the short and medium run and directly affect our role in conducting monetary policy or supervising banking and financial institutions. But the ultimate goal of the Federal Reserve System is to provide an economic and financial environment that is conducive to economic growth and rising living standards. It is important that we occasionally ...
Building communities: making a difference
One of the most vexing economic problems facing the United States has been the persistence of pockets of poverty in the midst of prosperity. The reasons for this are many and complex. Prominent among them are economic isolation in the case of rural areas, and language and cultural barriers in the case of many inner-city communities. Discrimination has played a role, but so too has simple ignorance. Resources and opportunities exist in these communities, but getting the recognition from market sources necessary to leverage these assets is difficult. For whatever reason, human and physical ...
Reaching the top: challenges and opportunities for women leaders: an introduction
Women have made great strides in the business and professional world.
Small steps in the right direction?: restructuring public education
When the term "knowledge-based economy" first entered popular discussion - sometime around the early 1980s - the focus was exclusively on scientific, technological, and business leadership. Only gradually did our society come to appreciate the pervasiveness of the knowledge-based economy. It affects not just the demand for high-level technical and entrepreneurial talent but, indeed, the job requirements for virtually all types of work. This growing realization has laid the foundation for broad-scale reforms of education in the United States and many other nations.