Dear Colleagues and Friends,

It is our pleasure to invite you to attend the 12th International Conference on Credit Risk Evaluation Designed for Institutional Targeting in finance.

The objective of the Conference is to bring together academics, practitioners and PhD students working in the area of financial risk management. The conference this year focuses on Risk, Regulation and Opportunities in an Increasingly Interconnected World and will provide an opportunity for participants engaged in research at the forefront of this area to discuss both the causes and implications of recent events in financial markets and may, in turn, suggest fruitful directions for future research. The Conference is the twelfth of a series dedicated to various aspects of credit risk.

The co-sponsors of the Conference are GRETA Associati (Venice, Italy), Intesa Sanpaolo (Milan, Italy) and SYRTO - SYstemic Risk TOmography, a project funded by the European Union under the 7th Framework Programme (FP7-SSH/2007-2013) Grant Agreement n° 320270. The Conference is organised under the auspices of the Department of Economics of the University Ca’ Foscari of Venice, ABI - Italian Banking Association and European Investment Bank Institute.

The organizers encourage submissions of papers on any topic within the overall theme of the conference and in the following areas in particular:

• Credit Risk:  Counterparty risk, Credit and Liquidity, Stressed credit risk measures;
• Insurance: Longevity Risk, Property Risk, Catastrophe Risk;
• Network Effects: Channels of contagion in the financial sector, Risk of SME networks;
• Market Structures: Dark Pools, Shadow Banking, High Frequency Trading;
• Risk Aggregation and Diversification: Firm wide integrated stress testing, Multivariate extreme events and Tail dependence;
• New Regulatory Frameworks and Their Consequences: Level playing field, European Banking Union, Financial conglomerates, Simplification of regulation.

The final program will include both submitted and invited papers. Acceptances received from invited speakers include Rama Cont (Imperial College London), Michel Dacorogna (SCOR, Zurich), Tom Hurd (McMaster University, Hamilton), Jean Lemaire (Wharton School, University of Pennsylvania) and Richard Olsen (Olsen Ltd, Zurich). The Conference will also feature a panel discussion on researchers' and practitioners' views of the major outstanding problems.

The Scientific Committee

Paul Embrechts, ETH Zurich, Programme Chair

Monica Billio, Ca’ Foscari University of Venice & GRETA, Venice

Damiano Brigo, Imperial College London

Darrell Duffie, Stanford University

Kenneth Singleton, Stanford University

The Local Organisers

Davide Alfonsi, Intesa Sanpaolo

Monica Billio, Ca’ Foscari University of Venice & GRETA

Andrea Giacomelli, GRETA

Loriana Pelizzon, Ca’ Foscari University of Venice & GRETA

Domenico Sartore, Ca’ Foscari University of Venice & GRETA