LaSalle Street Federal Reserve Bank of Chicago, Financial Markets Group

Decades of events, decisions, and occasional defaults have shaped how global financial markets operate today. This history is rich, and often best told by those who have experienced it firsthand.
For this episode, LaSalle Street welcomes Robert Steigerwald, senior policy advisor in the Financial Markets Group of the Federal Reserve Bank of Chicago, to discuss more than five decades of market evolution—from the bankruptcy of Herstatt Bank in the 1970s to the emergence of digital money. Moderating the conversation is Nahiomy Alvarez, senior financial markets analyst at the Chicago Fed.
Steigerwald has long contributed to the Chicago Fed’s research on clearing and settlement, payments, and other policy issues impacting financial market infrastructure. He is currently a member of the U.S. Commodity Futures Trading Commission’s Market Risk Advisory Committee. Before joining the Chicago Fed in 2000, Steigerwald served as legal counsel for a clearinghouse for foreign currency transactions and an attorney with a law firm representing exchanges, clearinghouses, and related trade associations.

Global financial markets are constantly factoring in risks, such as cyber threats and the current pandemic. But is there something special about climate change that market participants are only starting to understand?
This episode of LaSalle Street explores the challenge of climate change risk, including whether the emerging risk is being properly priced into financial markets and if risk-management strategies need to change to account for the complexity and projected duration of climate change. The discussion delves into key issues such as whether there should be a price on carbon and if corporate disclosures can play an essential role in managing climate risk.
Robert Engle and Dick Berner, co-directors of the Volatility and Risk Institute at New York University (NYU) Stern School of Business, join Alessandro Cocco, vice president of the Financial Markets Group at the Chicago Fed. Engle is a professor emeritus of finance at NYU Stern and the recipient of the 2003 Nobel Prize in Economics. Berner is a clinical professor of management practice in the Department of Finance at NYU Stern. He served as the first director of the Office of Financial Research and chief or senior economist at Morgan Stanley, Mellon Bank, and the Board of Governors of the Federal Reserve System.

LaSalle Street hosts a discussion on the potential effects of climate change on housing market values and whether such risks could impact systemic stability.
Financial market participants are increasingly aware of climate risk, but a comprehensive risk-management approach to climate change risk has not been developed yet. In this episode, we discuss the potential effects of physical and transition risk on the housing market—and how that risk flows into financial markets through borrowers and lenders, investors, and insurers.
Joining host Alessandro Cocco, vice president of the Financial Markets Group at the Chicago Fed, are Eric Hogue, risk specialist at the Federal Reserve Bank of Kansas City, Jesse M. Keenan, associate professor of real estate at Tulane University’s School of Architecture, and David Rodziewicz, senior economics specialist at the Federal Reserve Bank of Kansas City.

For its latest episode, LaSalle Street welcomes cyber risk executives representing financial firms to discuss cyber and technology risk management.
Ketan B. Patel, policy advisor and head of financial markets risk analysis in the Chicago Fed’s Financial Markets Group, hosts this episode. Alessandro Cocco, vice president of the Financial Markets Group at the Chicago Fed, provides an introduction.
Joining the podcast are David Currie, chief information security officer at Nubank, and Alonzo Ellis, chief information security officer at Vanguard.  
The guests provide background information on cyber risk management and delve into a range of related topics, including recent cyber incidents, cyber risk best practices, and vendor risk-management techniques. They also explore the lessons learned from the Covid-19 pandemic.

LaSalle Street hosts a discussion with executives representing exchanges, swap dealers, clearinghouses and asset managers on the impact of the Covid crisis and what to watch for as the pandemic eases.
 
Joining the podcast for this episode are Teo Floor, Chief Executive Officer of CCP12; Ulrich Karl, Head of Clearing Services at the International Swap Dealers Association; Pedro Gurrola Perez, Head of Research at the World Federation of Exchanges; and Jason Silverstein, Associate General Counsel at the Securities Industry and Financial Markets Association.

In its latest episode, LaSalle Street, a podcast from the Financial Markets Group at the Federal Reserve Bank of Chicago, hosts a conversation on identity, gender and careers in finance with four women shaping global derivatives markets.
Joining LaSalle Street for this episode are Laura Astrada, Managing Director at DTCC; Caroline Pham, Managing Director and Head of Capital Markets Regulatory Strategy at Citi; Maggie Sklar, Director of International Engagement, the Federal Reserve Bank of Chicago; Petal Walker, Special Counsel, WilmerHale.
The guests discuss their own career paths, experiences with sexism and other forms of discrimination in the workplace, and the intersection of gender and the impact of Covid-19 on work.

Moderating the discussion is Nahiomy Alvarez, Senior Financial Markets Analyst at the Chicago Fed. Anna Paulson, Executive Vice President and Director of Research at Chicago Fed, provides an introduction. The episode was recorded during Women’s History Month, which was created to celebrate the many contributions and achievements of women.