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November 26

Francisco Covas, Adam Freedman

Francisco Covas

Senior Vice President, Head of Research

Download CV
Francisco Covas is currently Senior Vice President, Head of Research at the Bank Policy Institute. Prior to joining BPI, Mr. Covas served as Senior Vice President and Deputy Head of Research at the Clearing House Association, where he helped oversee research and analysis to support the advocacy of the Association on behalf of the owner banks. Prior to joining the Clearing House in 2016, Mr. Covas was an assistant director of the Division of Monetary Affairs at the Federal Reserve Board where he supervised a team focused on the effects of changes in bank regulation on monetary policy, on the role of banks in the transmission of monetary policy, and on the development and validation of stress testing models. Prior to that, he was an economist in the Division of Banking Supervision & Regulation and focused on a range of capital, liquidity and other regulatory initiatives. Mr. Covas earned a Ph.D. in economics from University of California, San Diego in 2004 and a B.A. from the Universidade Nova de Lisboa, Portugal in 1997. He has written extensively on liquidity rules, capital regulation and stress testing and has published research on a wide range of journals, including American Economic Review, Journal of Money Credit and Banking, International Journal of Forecasting, among other academic journals.

Articles Written by Francisco Covas

December 12

After Adjusting for Economic Growth, as Pledged, GSIB Surcharges Should be 50 Basis Points Lower

November 26

The GSIB Surcharge and Repo Markets

November 20

Quantifying Just How High U.S. Capital Requirements Are

Adam Freedman

Assistant Vice President and Research Analyst

Adam Freedman is an Assistant Vice President and Research Analyst at the Bank Policy Institute, where he contributes to economic research on banking policy and regulation. Prior to joining BPI, Mr. Freedman completed an M.A. in political economy, jointly awarded by Georgetown University and l’Universite Libré de Bruxelles, Solvay School of Economics. Mr. Freedman also has a B.A. in government from Georgetown University.

Articles Written by Adam Freedman

November 26

The GSIB Surcharge and Repo Markets

June 25 The Impact of Recent Changes in Capital Requirements on Mortgage Servicing Assets

The Impact of Recent Changes in Capital Requirements on Mortgage Servicing Assets

June 24 Federal Reserve

BPI Analysis of the DFAST Stress Test Results

The GSIB Surcharge and Repo Markets

In this post, we argue that despite the Fed’s actions to expand the level of reserves in the wake of the volatility in September, repo rates will likely move higher… Continue Reading

Bank Capital and Stress Testing (Research), Blog, Research, Systemic Risk and TBTF

July 12

July 12, 2019

TOP OF THE AGENDA Federal Reserve Conference Highlights Need for Stress Test Regime Changes  On July 9 at a Federal Reserve Bank of Boston conference to review of the stress… Continue Reading

BPInsights, Newsletters

June 28

June 28, 2019

TOP OF THE AGENDA BPI Analysis of the DFAST Stress Test Results On June 24, BPI published a blog post that analyzed the Dodd-Frank Act Stress Tests (DFAST) results, released… Continue Reading

BPInsights, Newsletters

June 14

June 14, 2019

TOP OF THE AGENDA House Financial Services Committee Passes Bipartisan Bill to End Anonymous Shell Companies The House Financial Services Committee passed H.R. 2513, known as the Corporate Transparency Act,… Continue Reading

May 31, 2019

TOP OF THE AGENDA Give Banks Credit For Robust Contingent Liquidity Arrangements In this blog post, BPI argues that banks should be allowed to hold liquid assets sufficient to meet… Continue Reading

May 24, 2019

TOP OF THE AGENDA Former Fed Gov. Daniel Tarullo’s Misplaced Calls For Higher Capital Requirements In a May 21 speech, former Federal Reserve Governor Daniel Tarullo called for higher capital… Continue Reading

May 17, 2019

TOP OF THE AGENDA American Bar Association Opposes Anti-Money Laundering Efforts. Objection! Last week, the American Bar Association released a letter opposing H.R. 2513, the Corporate Transparency Act (Maloney D-NY),… Continue Reading

May 10, 2019

TOP OF THE AGENDA House Financial Services Committee Approves AML Reform Bill The House Financial Services Committee unanimously approved by a vote of 55-0 a bill, HR 2514 by Representative… Continue Reading

May 7

Joint Trades Submit Letter of Support to House Financial Services Committee on Efforts to Modernize AML / CFT Regulatory System

The Honorable Maxine Waters Chairwoman Committee on Financial Services United States House of Representatives 2221 Rayburn House Office Building Washington, DC 20515 The Honorable Patrick McHenry Ranking Member Committee on… Continue Reading

Advocacy, AML/CFT, Bank Secrecy Act and Sanctions

May 3, 2019

TOP OF THE AGENDA BPI President & CEO Greg Baer Describes Opaque Subjective and Unreviewable Examination Process in Testimony Before Senate Banking Committee BPI President & CEO Greg Baer Describes… Continue Reading

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