ECB-New York Fed Conference on Nonbank Financial Institutions 2025 - Call for papers

The European Central Bank (ECB) and the Federal Reserve Bank of New York (NY Fed) are organising their annual Conference on Nonbank Financial Institutions (NBFIs). The conference aims to bring together academics, central bankers and market participants to present and discuss new research on NBFIs of particular interest to central banks.

The conference will take place as part of the ECB’s annual financial stability and macroprudential policy conference, which will take place on 10-11 June 2025 at the ECB premises in Frankfurt am Main.

The NBFI conference will take place as a full-day event on 10 June 2025. The second conference day, 11 June 2025, will cover broader questions related to financial stability and macroprudential policy. 

We welcome empirical and theoretical contributions focusing on, but not limited to, the following topics:

• The role of different NBFIs (e.g., mutual funds, pension funds, insurance companies or hedge funds) in financial markets
• Vulnerabilities in NBFIs, their impact on financial stability and credit provision to the real economy
• Potential effects of (macro-)prudential regulation of NBFIs
• Interlinkages and interactions between NBFIs and banks, including the role of regulation
• The role of NBFIs in the transmission of monetary policy

Submissions of full papers are welcome in PDF format to Macropru2025.Conference@ecb.europa.eu by 1 March 2025.

Expenses

The ECB will cover reasonable travel expenses for those presenting papers and the discussants. Participants from national central banks and other EU or international institutions are expected to cover their own expenses.

Organising committee

• Markus Behn (ECB)
• Johannes Breckenfelder (ECB)
• Madalen Castells Jauregui (ECB)
• Nicola Cetorelli (NY Fed)
• Fulvia Fringuellotti (NY Fed)
• Christoph Kaufmann (ECB)
• Angela Maddaloni (ECB)
• Livio Stracca (ECB)