Financial System Architecture and Stability conference held at UVic Gustavson School of Business


The 2016 inaugural meeting of the International Workshop on Financial System Architecture & Stability (IWFSAS) was held at the University of Victoria on August 26-27, 2016. This conference was jointly hosted by the Gustavson School of Business and the UVic Department of Economics, in collaboration with the European Union Centre of Excellence (EUCE) and the International Research Center on Cooperative Finance (IRCCF) at HEC Montreal.
This two-day workshop provided a forum for academic researchers and policy makers to discuss issues related to the structure and design of financial systems and their impact on growth and financial stability. This inaugural meeting was dedicated to discussing the increasingly important role of cooperative banks and how their multi-stakeholders-oriented managerial approach in providing financial services can affect risk-taking behaviour at the individual bank level as well as at the broader financial system level. Indeed, recent evidence from the global financial crisis of 2008-09 shows that cooperative banks weathered the crisis better than commercial banks.

The conference features research findings delivered and discussed by renowned academics from Canada, United States and Europe. Session themes include:

  • Business Models & Market Structures in Banking
  • Regulation & Risk Taking in Cooperative Banking
  • Managing Cooperative Financial Institutions
  • Avoiding and Resolving Banking Crises

The keynote speaker was internationally renowned scholar Dr. Thorsten Beck, Professor of Banking and Finance, from the Cass Business School (City University, London). In addition to the academic paper presentations, the conference also included a public panel session: on “The Future of the cooperative banking sector with the participation of: Rym Ayadi (Professor at HEC Montreal and Director of the International Research Centre on Cooperative Finance), Frank Chong (Acting Superintendent of Financial Institutions and Acting CEO of the Credit Union Deposit Insurance Corporation, at the Financial Institutions Commission (FICOM), Tracy Redies (former CEO of Coast Capital Savings), James A. Wilcox (Professor at Haas School of Business, UC Berkeley), and Don Wright (CEO of Central 1 Credit Union).
Best paper awards were presented to:

Giorgio Caselli (Cranfield University) and Catarina Figueira (Cranfield University) for their paper “Risk-taking channel of monetary transmission and financial stability: What role for stakeholder banks?” (sponsored by Gustavson School of Business’ Centre for Social and Sustainable Innovation).

Hector Perez-Saiz (Bank of Canada) and Hongyu Xiao (University of Pennsylvania) for their paper: “Local vs National: Regulatory and Cultural Entry Barriers in the Retail Banking Industry.” (sponsored by the HEC Montreal’ International Research Centre on Cooperative Finance).

Conference website: