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Financial Economists

Filippo Curti

Fillipo Curti

My research focuses on financial economics, banking, and insurance.

  • Biography

    Professional Experience

    Filippo Curti is a financial economist, who joined the Federal Reserve Bank of Richmond in 2014 directly from Ph.D. program at the University of Arizona. Prior to joining the Bank, Curti worked one year for Toro Assicurazioni S.p.a. (now Assicurazioni Generali S.p.a.).


    Ph.D. Finance, The University of Arizona, 2014
    Master Degree in Actuarial and Statistical Sciences, University of Turin, 2008
    Bachelor Degree in Financial Markets and Institutions, Bocconi University, Milan, 2005

    Curriculum vitae 

  • Publications
    Liberty Street Economics, January 07, 2019

    The term “operational risk” often evokes images of catastrophic events like hurricanes and earthquakes. For financial institutions, however, operational risk has a broader scope, encompassing losses related to fraud, rogue trading, product misrepresentation, computer and system failures, and cyberattacks, among other things. In this blog post, we discuss how operational risk has come into greater focus over the past two decades—to the point that it now accounts for more than a quarter of financial institutions’ regulatory capital.

    Gara Afonso, Filippo Curti and Atanas Mihov

    "Fraud Recovery and the Quality of Country Governance," Journal of Banking & Finance, 2018, 87:446-461 (with A.Mihov)

    "Approaches to Calculate Tail Quantiles of Compound Distributions," Journal of Computational Finance, Forthcoming (with A.Abdymomunov and H. Kane)

  • Working Papers

    "U.S. Banking Sector Operational Losses and the Macroeconomic Environment" (with A.Abdymomunov and A.Mihov; Revise & Resubmit at Journal of Money, Credit and Banking)

    "All Bank Risks are Idiosyncratic, Until They are Not: The Case of Operational Risk" (with A.Berger, A.Mihov, and J.Sedunov)

    "Diseconomies of Scale in Banking: Evidence from Operational Risk" (with A.Mihov)

    "Catch the Thief: Fraud in the U.S. Banking Industry" (with A.Mihov)

    "Quantifying and Stress Testing Operational Risk with Peer Banks’ Data" (with A.Abdymomunov)

    "Predicting Operational Loss Exposure Using Past Losses" (with M.Migueis)

phone Contact Us

Filippo Curti (704) 358-2514