FDIC Bank Heist: Higher Interest Rates Under Fire

The Federal Deposit Insurance Corporation (FDIC) has launched its third annual Academic Challenge, a competition aimed at exposing the weaknesses in the US banking sector.

The challenge, which kicked off on September 20, 2022, focuses on the impacts of higher interest rates on the banking industry. The FDIC’s Center for Financial Research is hosting the competition, which will consist of two rounds.

In the first round, teams of undergraduate students will use multiple public data sources to examine the effects of higher interest rates on the banking industry. In the second round, finalist teams will present their findings and answer questions from a panel of judges who work in academia, banking, and bank supervision.

The FDIC will challenge teams to use government and other public data to inform their insights. In addition, FDIC economists will host an online session to help students find resources and address questions about the competition.

Participants will have the opportunity to display their analytical and presentation skills, to examine important issues in banking, and to deepen their experiences working in teams. The challenge is expected to bring to light the vulnerabilities of the banking sector and provide valuable insights for policymakers and regulators.

The FDIC has a long history of promoting banking stability and consumer protection. By hosting the Academic Challenge, the FDIC is taking a proactive approach to ensuring the integrity of the banking system.

In a statement, the FDIC said, ‘The FDIC’s Academic Challenge is designed to promote research and analysis on topics related to banking and finance. By engaging students and academics, we can tap into their creativity and expertise to better understand the banking sector and identify areas for improvement.’

For more information on the FDIC Academic Challenge, contact Brian Sullivan at 202-412-1436.