Paris, 15 july 2015 The Europlace Institute of Finance, a registered Foundation of public interest, aims to foster synergies between academia in finance and economics and financial industry professionals (financial intermediaries, investors and managers, issuers and companies involved in the financial markets) - in France and in Europe. The Institute’s founders are committed to developing and sustaining such initiatives. As in previous years, our Foundation is launching a renewed call for research projects in 2014. This call for projects is intended for all members of the academic community concerned by financial research, with no restrictions as to academic disciplines. In partnership with the Louis Bachelier Laboratory of Excellence, the Europlace Institute of Finance will fund 15 research projects, each of which will receive an amount of €10,000. The projects funded will focus on topics deemed to be of major interest in the current situation, grouped into four axes (see also the attached Appendix). Regulation and the financial environment Interest rates Risk management Investment The projects must involve at least one researcher affiliated to a French academic institution. Projects involving several teams, especially those with a strong European dimension, will be looked at with particular interest. In submitting this application, project leaders, if selected, agree to develop their project in association (through meetings and discussion with the teams) with one or more actors in the Paris financial market. If necessary, the response to the call for proposals may take note of existing links that could be strengthened in the framework of the project. The closing date for the submission of applications in response to this call for projects is 20 September 2015. To submit your project: Xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx For further information, please contact: info@europlace-finance.com Elyès JOUINI Scientific director Institut Europlace de Finance Themes Call for Projects 2015 Regulation and the financial environment Review of post-crisis regulations (efficiency, changes in behaviour, avoidance strategies, shadow banking, etc.) Micro foundations (predictive models pertaining to contracts and behaviour), macro projections Big data and insurance, concentration of information and the potential construction of dominant positions Interest rates Structural changes induced by low rates (economic impact, options pricing, trading, etc.) Interest rate models including the possibility of lasting low (or even negative) rates Low interest rates, lack of inflation and investment, particularly in very long-term sectors (energy, infrastructure, etc.) Low rates and Solvency II Life insurance, low interest rates and longevity Design of insurance products in a low interest rate environment taking into account the triptych profitability/risk/fairness, hedging management Behaviour of policyholders in a low interest rate environment taking into account their increasing rationality Variable annuities Risk management CVA, DVA RWA, impact on liquidity, assessment of the cost of capital, how to integrate the cost of capital into pricing Risk management and structural changes (regulatory changes and new behaviour) Management of the duration gap under Solvency II and alignment of divergent regulatory frameworks (IFRS, Solvency II, etc.) Long-term volatility, modelling, measurement, long-term hedging Stress scenarios on mortgage loans (using French and European data) related to the demographic transition, risk structure Investment Financialisation of patents, intellectual property financing Transformation of funding models Low rates, lack of inflation and investment, particularly in very long-term sectors (energy, infrastructure, etc.)