We elucidate the tradeoffs between transparency and confidentiality in the context of financial regulation. The structure of information in financial contexts creates incentives with a pervasive effect on financial institutions and their relationships. This includes supervisory institutions,...

We extract from the yield curve a new measure of fundamental economic uncertainty, based on McDiarmid's distance and related methods for optimal uncertainty quantification (OUQ). OUQ seeks analytical bounds on a system's behavior, even where the underlying data-generating process and system...

How can financial data be made more accessible and more secure, as well as more useful to regulators, market participants, and the public? As new data sets are created, opportunities emerge. Vast quantities of financial data may help identify emerging risks, enable market participants and...

We develop metrics to assess the complexity of a bank holding company (BHC), based on its ownership structure. Large BHCs have intricate ownership hierarchies involving hundreds or even thousands of legal entities that may contribute to increased operational risk and greater opacity. Our...

We examine the distribution (across institutions and intertemporally) in charge-off and delinquency rates for six categories of loans held by U.S. banks and thrifts. The sample uses regulatory reporting data for roughly 230,000 institution-years from 1984 to 1999 (comprising over 2 million data...

We examine the effects of price disclosure on market performance in a continuous experimental multiple-dealer market in which seven professional market-makers trade a single security. The dealers trade with one another and with computerized informed and liquidity traders. Our key comparison is...

We examine the consequences of transparency in an experimental multiple-dealer market with asymmetrically informed dealers. Five professional securities traders make a market for a single security. In each trading round, one of the dealers (the quot;insiderquot;) is told the security's true...

This paper provides an overview of visual analytics — the science of analytical reasoning enhanced by interactive visualizations tightly coupled with data analytics software — and discusses its potential benefits in monitoring systemic financial stability. The core strength of visual...

We provide an introduction and overview to the field of risk management for interested non-specialists, with a particular focus on the data and information requirements. Data for risk management come in many forms, and the applications of risk information for managing credit, market,...

This chapter presents the historical context for the current state of financial information and risk management. In lieu of a comprehensive history, the authors discuss several broad historical themes in risk and finance: institutionalization, technology, globalization, and complexity, including...