The Consortium for Systemic Risk Analytics (CSRA) is a not-for-profit industry consortium (a Delaware corporation) of financial institutions and academics founded with the objective of pooling expertise and risk analytics to provide greater transparency of systemic risk exposures in the global financial system. The founding members of the Consortium believe that a more stable financial system is in everyone’s best interests, and sharing expertise and analytics is critical to reducing the likelihood of systemic shocks in the future.
The initial activities of the Consortium are focused on creating a shared research environment in which consortium members will collaborate in conducting forensic analyses of historical and emerging issues in systemic risk. These activities include organizing semi-annual research colloquia at which members share the results of their research and hosting a common website for research publications. The CSRA also plans to organize public conferences. Two initial priorities of the Consortium are a historical assessment of various systemic risk measures as early warning signals of the Financial Crisis of 2007–2009, and a current assessment of the systemic “hot spots” that are emerging, e.g., municipal bonds, sovereign debt, commercial real-estate loans, etc.
The Consortium strives to work proactively and collaboratively with government agencies, academic institutions, and the global business community to develop open-source research, and to increase awareness of potential systemic events. To that end, we welcome and engage in active dialogue with government and regulatory entities in formulating our agenda.