Federal Reserve Bank of Atlanta Research Center Executive Director of the Center for Financial Innovation and Stability Larry Wall

Larry Wall

Research Center Executive Director, Center for Financial Innovation and Stability
curriculum vitae Adobe PDF file format
email :: 404-498-8937

To interview economists, press should contact Public Affairs at 404-498-8748.

  • Biography

    Larry Wall is the research center executive director of the Center for Financial Innovation and Stability (CenFIS) in the research department of the Federal Reserve Bank of Atlanta. Dr. Wall is part of the financial markets team. CenFIS was created to improve knowledge of financial innovation and financial stability and the connection between the two.

    Dr. Wall joined the financial structure team of the Bank's research department in 1982 and was promoted to executive director of the CenFIS in 2013. In addition to pursuing his research agenda, Dr. Wall leads CenFIS's activities, including its newsletter, Notes from the Vault, and conferences. He also provides policy advice. A certified public accountant, Dr. Wall is on the editorial boards of the Financial Review, Journal of Financial Research, Journal of Financial Services Research, Journal of Financial Stability, and Review of Financial Economics. Dr. Wall is also on the Academic Advisory Panel for the International Association of Deposit Insurers. He is a past president and chairman of the trustees of the Eastern Finance Association. Dr. Wall has also been an adjunct faculty member of Emory University and the Georgia Institute of Technology.

    Dr. Wall, a native of Grand Forks, North Dakota, earned a bachelor's degree in business administration from the University of North Dakota and a doctoral degree in business from the University of North Carolina at Chapel Hill.

  • Working Papers

    Atlanta Fed Working Papers

    2015-11
    Cross-Border Banking on the Two Sides of the Atlantic: Does It Have an Impact on Bank Crisis Management?
    Maria J. Nieto and Larry D. Wall
    November 2015
    Abstract | Full text Adobe PDF file format (290 KB)

    2013-15
    Measuring Capital Adequacy Supervisory Stress Tests in a Basel World
    Larry D. Wall
    December 2013
    Abstract | Full text Adobe PDF file format (147 KB)

    2013-14
    The Adoption of Stress Testing: Why the Basel Capital Measures Were Not Enough
    Larry D. Wall
    December 2013
    Abstract | Full text Adobe PDF file format (138 KB)

    2012-13
    The Safety and Soundness Effects of Bank M&A in the EU
    Jens Hagendorff, Maria J. Nieto, and Larry D. Wall
    September 2012
    Abstract | Full text Adobe PDF file format (432 KB)

    2012-12
    The Devil's in the Tail: Residential Mortgage Finance and the U.S. Treasury
    W. Scott Frame, Larry D. Wall, and Lawrence J. White
    August 2012
    Abstract | Full text Adobe PDF file format (941 KB)

    2011-6
    Creating an EU-Level Supervisor for Cross-Border Banking Groups: Issues Raised by the U.S. Experience with Dual Banking
    Larry D. Wall, María J. Nieto, and David Mayes
    March 2011
    Abstract | Full text Adobe PDF file format (174 KB)

    2010-9
    Prudential Discipline for Financial Firms: Micro, Macro, and Market Structures
    Larry D. Wall
    March 2010
    Abstract | Full text Adobe PDF file format (291 KB)

    2010-5
    What Do Premiums Paid for Bank M&As Reflect? The Case of the European Union
    Jens Hagendorff, Ignacio Hernando, Maria J. Nieto, and Larry D. Wall
    March 2010
    Abstract | Full text Adobe PDF file format (167 KB)

    2008-27
    Bank Capital Ratios across Countries: Why Do They Vary?
    Elijah Brewer III, George G. Kaufman, and Larry D. Wall
    December 2008
    Abstract | Full text Adobe PDF file format (323 KB)

    2008-26
    Determinants of Domestic and Cross-Border Bank Acquisitions in the European Union
    Ignacio Hernando, María J. Nieto, and Larry D. Wall
    December 2008
    Abstract | Full text Adobe PDF file format (233 KB)

    2007-9
    Multiple Safety Net Regulators and Agency Problems in the European Union: Is Prompt Corrective Action Partly the Solution?
    David G. Mayes, María J. Nieto, and Larry Wall
    May 2007
    Abstract | Full text Adobe PDF file format (252 KB)

    2006-28
    When Target CEOs Contract with Acquirers: Evidence from Bank Mergers and Acquisitions
    Elijah Brewer III, William E. Jackson III, and Larry D. Wall
    December 2006
    Abstract | Full text Adobe PDF file format (168 KB)

    2006-27
    Preconditions for a Successful Implementation of Supervisors' Prompt Corrective Action: Is There a Case for a Banking Standard in the European Union?
    María J. Nieto and Larry D. Wall
    December 2006
    Abstract | Full text Adobe PDF file format (247 KB)

    2006-2
    An Analysis of the Systemic Risks Posed by Fannie Mae and Freddie Mac and an Evaluation of the Policy Options for Reducing Those Risks
    Robert A. Eisenbeis, W. Scott Frame, and Larry D. Wall
    March 2006
    Abstract | Full text Adobe PDF file format (449 KB)

    2005-30
    Debt, Hedging, and Human Capital
    Stephen D. Smith and Larry D. Wall
    December 2005
    Abstract | Full text Adobe PDF file format (397 KB)

    2004-23a
    Resolving Large Financial Intermediaries: Banks Versus Housing Enterprises
    Robert A. Eisenbeis, W. Scott Frame, and Larry D. Wall
    Revised October 2004
    Abstract | Full text in PDF Adobe PDF file format (377 KB)

    2002-31
    The Major Supervisory Initiatives Post-FDICIA: Are They Based on the Goals of PCA? Should They Be?
    Robert A. Eisenbeis and Larry D. Wall
    December 2002
    Abstract | Full text Adobe PDF file format (142 KB)

    2002-18
    Subordinated Debt and Prompt Corrective Regulatory Action
    Douglas D. Evanoff and Larry D. Wall
    August 2002
    Abstract | Full text Adobe PDF file format (114 KB)

    2001-25
    Measures of the Riskiness of Banking Organizations: Subordinated Debt Yields, Risk-Based Capital, and Examination Ratings
    Douglas D. Evanoff and Larry D. Wall
    November 2001
    Abstract | Full text Adobe PDF file format (133 KB)

    2001-11
    Sub-Debt Yield Spreads as Bank Risk Measures
    Douglas D. Evanoff and Larry D. Wall
    May 2001
    Abstract | Full text Adobe PDF file format (228 KB)

    2000-25
    Managing the Risk of Loans with Basis Risk: Sell, Hedge, or Do Nothing?
    Larry D. Wall and Milind M. Shrikhande
    November 2000
    Abstract | Full text Adobe PDF file format (190 KB)

    2000-24
    Subordinated Debt and Bank Capital Reform
    Douglas D. Evanoff and Larry D. Wall
    November 2000
    Abstract | Full text Adobe PDF file format (253 KB)

    2000-23
    The Use of Accruals to Manage Reported Earnings: Theory and Evidence
    Timothy W. Koch and Larry D. Wall
    November 2000
    Abstract | Full text Adobe PDF file format (149 KB)

    96-6
    The Impact of a Dealer's Failure on OTC Derivatives Market Liquidity during Volatile Periods
    Larry D. Wall, Ellis W. Tallman, and Peter A. Abken
    June 1996
    Abstract | Full text Adobe PDF file format (767 KB)

  • Other Fed Work

    Chicago Fed-Sponsored Bank Structure and Competition Conference Proceedings

    Douglas D. Evanoff and Larry D. Wall. "The Role of Subordinated Debt in Bank Safety and Soundness Regulation," pp 480–93 (2000).

    Peter Abken, Ellis Tallman, and Larry D. Wall. "Banks' Discretionary Loan Loss Provisions: How Important Are Constraints and Asymmetries," pp 99–112 (1999).

    Peter Abken, Ellis Tallman, and Larry D. Wall. "The Impact of a Dealer's Failure on OTC Derivatives Market Liquidity During Volatile Periods," pp 357–73 (1997).

    Larry D. Wall. "Competition for More than One Class of Borrowers Using Different Credit-Worthiness Tests," pp 253–76 (1992).

    Pamela P. Peterson and Larry D. Wall. "Valuation Effects of New Capital Issues by Large Bank Holding Companies," pp 117–40 (1989).

    John J. Pringle and Larry D. Wall. "Alternative Explanations of Interest Rate Swaps," pp 186–205 (1987).

    Robert A. Eisenbeis and Larry D. Wall. "Holding Company Diversification and Risk," pp 340–57 (1984).

    Articles

    Larry D. Wall. "Managing Global Financial Risks." Notes from the Vault (2017 May).

    Larry D. Wall. "Interest on Reserves." Notes from the Vault (2017 February).

    Larry D. Wall. "The Revolving Door." Notes from the Vault (2017 January).

    Larry D. Wall. "The Impact of Extraordinary Policy on Intermediaries." Notes from the Vault (2016 December).

    Larry D. Wall. "Prudential Regulation, Big Data, and Machine Learning." Notes from the Vault (2016 November).

    Larry D. Wall. "Avoiding Regulation: FinTech versus the Sharing Economy." Notes from the Vault (2016 September).

    Larry D. Wall. "'Smart Contracts' in a Complex World." Notes from the Vault (2016 July).

    Larry D. Wall. "TAF: The Cure-All for Stigma?." Notes from the Vault (2016 June).

    Larry D. Wall. "Getting a Grip on Liquidity: Conference Takeaways." Notes from the Vault (2016 May).

    Larry D. Wall. "Ending Too Big to Fail: Lessons from Continental Illinois." Notes from the Vault (2016 April).

    Larry D. Wall. "Financing the Fed's Balance Sheet: Implications for the Treasury." Notes from the Vault (2015 December).

    Larry D. Wall. "The Role of Liquidity in the Financial System." Notes from the Vault (2015 November).

    Larry D. Wall. "Using Market Information for Fail-Safe Supervisory Triggers." Notes from the Vault (2015 October).

    Larry D. Wall. "Large, Complex Financial Regulation." Notes from the Vault (2015 August).

    Maria J. Nieto and Larry D. Wall. "Breaking Down Geographic Barriers on Banks: U.S. and EU Recent Experiences." Notes from the Vault (2015 July).

    Larry D. Wall. "The Change in the FDIC Assessment Base." Notes from the Vault (2015 April).

    Larry D. Wall. "Who Will Be Central to the Financial System?." Notes from the Vault (2015 March).

    Larry D. Wall. "Liquidity Regulation and Financial Stability." Notes from the Vault (2015 February).

    Larry D. Wall. "The Impact of Regulation on Monetary Policy." Notes from the Vault (2015 January).

    Larry D. Wall. "Nonbank Financial Firms and Financial Stability." Notes from the Vault (2014 November).

    Larry D. Wall. "Should Financial Stability Be a Goal of Monetary Policy?." Notes from the Vault (2014 September).

    Larry D. Wall. "Bail-in Debt: Will the Supervisors Pull the Trigger in Time?." Notes from the Vault (2014 August).

    Larry D. Wall. "Was the Third Amendment to the GSE Bailouts Fair?." Notes from the Vault (2014 May).

    Larry D. Wall. "Better but Still Imperfect Financial Information." Notes from the Vault (2014 April).

    Larry D. Wall. "Have the Government-Sponsored Enterprises Fully Repaid the Treasury?." Notes from the Vault (2014 March).

    Larry D. Wall. "Two Drivers of Financial Innovation?." Notes from the Vault (2014 February).

    Larry D. Wall. "Simple Concept, Complex Regulation." Notes from the Vault (2014 January).

    Larry D. Wall. "Basel III and Stress Tests." Notes from the Vault (2013 December).

    Larry D. Wall. "Supervising Bank Compensation Policies." Notes from the Vault (2013 November).

    Larry D. Wall. "SIFI Failure versus Financial System Failure." Notes from the Vault (2013 September).

    Larry D. Wall. "FASB Proposes (Too?) Early Loan Loss Recognition." Notes from the Vault (2013 August).

    Larry D. Wall. "Value at Risk: A Valuable Tool That Was Greatly Oversold." Notes from the Vault (2013 June).

    Larry D. Wall. "Lessons from the Housing GSEs for Resolving Too Big to Fail." Notes from the Vault (2013 May).

    Larry D. Wall. "Reflections on the 2013 Financial Markets Conference." Notes from the Vault (2013 April).

    Larry D. Wall, W. Scott Frame, and Lawrence J. White. "Will Taxpayers Get a Truly Fair Deal with Housing Finance Reform?." Notes from the Vault (2013 March).

    Larry D. Wall. "Three Individually Reasonable Decisions, One Unintended Consequence, and a Solution." Notes from the Vault (2011 May/June).

    Larry D. Wall. "Too Big to Fail: No Simple Solutions." Notes from the Vault (2010 April).

    Larry D. Wall. "Too Big to Fail after FDICIA." Federal Reserve Bank of Atlanta Economic Review (2010 No1).
    Abstract | Full text Adobe PDF file format (580 KB)

    Alan K. Reichert, Larry D. Wall, and Hsin-Yu Liang. "The Final Frontier: The Integration of Banking and Commerce, Part 2: Risk and Return Using Efficient Portfolio Analysis." Federal Reserve Bank of Atlanta Economic Review (2008 No2).
    Abstract | Full text Adobe PDF file format (313 KB)

    Larry D. Wall, Alan K. Reichert, and Hsin-Yu Liang. "The Final Frontier: The Integration of Banking and Commerce, Part 1: The Likely Outcome of Eliminating the Barrier." Federal Reserve Bank of Atlanta Economic Review (2008 No1).
    Abstract | Full text Adobe PDF file format (357 KB)

    George J. Benston and Larry D. Wall. "How Should Banks Account for Loan Losses?" Federal Reserve Bank of Atlanta Economic Review (2005 Q4).
    Abstract | Full text Adobe PDF file format (123 KB)

    Robert A. Eisenbeis and Larry D. Wall. "Reforming Deposit Insurance and FDICIA." Federal Reserve Bank of Atlanta Economic Review (2002 Q1).
    Abstract | Full text Adobe PDF file format (188 KB)

    W. Scott Frame and Larry D. Wall. "Fannie Mae's and Freddie Mac's Voluntary Initiatives: Lessons from Banking." Federal Reserve Bank of Atlanta Economic Review (2002 Q1).
    Abstract | Full text Adobe PDF file format (168 KB)

    W. Scott Frame and Larry D. Wall. "Financing Housing through Government-Sponsored Enterprises." Federal Reserve Bank of Atlanta Economic Review (2002 Q1).
    Abstract | Full text Adobe PDF file format (164 KB)

    Alan K. Reichert and Larry D. Wall. "The Potential for Portfolio Diversification in Financial Services." Federal Reserve Bank of Atlanta Economic Review (2000 Q3).
    Abstract | Full text Adobe PDF file format (379 KB)

    Douglas D. Evanoff and Larry D. Wall. "Subordinated Debt as Bank Capital: A Proposal for Regulatory Reform." Federal Reserve Bank of Chicago Economic Perspectives (2000 Q2).Off-site link
    Abstract | Full text Adobe PDF file format (156 KB)

    Larry D. Wall and Timothy W. Koch. "Bank Loan-Loss Accounting: A Review of Theoretical and Empirical Evidence." Federal Reserve Bank of Atlanta Economic Review (2000 Q2).
    Abstract | Full text Adobe PDF file format (200 KB)

    Larry D. Wall and Pamela P. Peterson. "The Choice of Capital Instruments." Federal Reserve Bank of Atlanta Economic Review (1998 Q2).
    Abstract | Full text Adobe PDF file format (200 KB)

    Larry D. Wall. "Taking Note of the Deposit Insurance Fund: A Plan for the FDIC to Issue Capital Notes." Federal Reserve Bank of Atlanta Economic Review (1997 Q1).
    Abstract | Full text Adobe PDF file format (313 KB)

    Larry D. Wall and Pamela P. Peterson. "Banks' Responses to Binding Regulatory Capital Requirements." Federal Reserve Bank of Atlanta Economic Review (1996 No2).
    Abstract | Full text Adobe PDF file format (313 KB)

    Larry D. Wall. "Some Lessons from Basic Finance for Effective Socially Responsible Investing." Federal Reserve Bank of Atlanta Economic Review (1995 No1).

    Sheila L. Tschinkel and Larry D. Wall. "Some Lessons from Finance for State and Local Government Development Programs." Federal Reserve Bank of Atlanta Economic Review (1994 No1).

    Sunil Mohanty, Alan K. Reichert, and Larry D. Wall. "Deregulation and the Opportunities for Commercial Bank Diversification." Federal Reserve Bank of Atlanta Economic Review (1993 No5).

    Sunil Mohanty, Alan K. Reichert, and Larry D. Wall. "Too-Big-To-Fail' after FDICIA." Federal Reserve Bank of Atlanta Economic Review (1993 No1).

    Stephen D. Smith and Larry D. Wall. "Financial Panics, Bank Failures and the Role of Regulatory Policy." Federal Reserve Bank of Atlanta Economic Review (1992 No1).

    Larry D. Wall. "Recourse Risk in Asset Sales." Federal Reserve Bank of Atlanta Economic Review (1991 No5).

    James E. McNulty, John J. Pringle, and Larry D. Wall. "Capital Requirements for Interest Rate and Foreign-Exchange Hedges." Federal Reserve Bank of Atlanta Economic Review (1990 No3).

    Larry D. Wall. "Book Review of the Separation of Commercial and Investment Banking: The Glass-Steagal Act Revisited and Reconsidered." Federal Reserve Bank of Atlanta Economic Review (1990 No2).

    William C. Hunter and Larry D. Wall. "Bank Merger Motivations: A Review of the Evidence and An Examination of Key Target Bank Characteristics." Federal Reserve Bank of Atlanta Economic Review (1989 No5).

    Larry D. Wall. "A Puttable Subordinated Debt Plan for Reducing Future Deposit Insurance Losses." Federal Reserve Bank of Atlanta Economic Review (1989 No4).

    Larry D. Wall. "Capital Requirements for Banks: A Look at the 1981 and 1988 Standards." Federal Reserve Bank of Atlanta Economic Review (1989 No2).

    Larry D. Wall. "Interest Rate Swaps: A Review of the Issues." Federal Reserve Bank of Atlanta Economic Review (1988 No6).

    Larry D. Wall. "Leverage Ratios of Domestic Nonfinancial Corporations." Federal Reserve Bank of Atlanta Economic Review (1988 No3).

    Larry D. Wall. "Nonbank Activities and Risk." Federal Reserve Bank of Atlanta Economic Review (1986 October).

    Larry D. Wall. "Commercial Bank Profitability: Some Disturbing Trends." Federal Reserve Bank of Atlanta Economic Review (1986 No3).

    Larry D. Wall. "Profits in '85: Large Banks Gain While Others Continue to Lag." Federal Reserve Bank of Atlanta Economic Review (1986 August/September).

    Larry D. Wall. "Regulation of Banks' Equity Capital." Federal Reserve Bank of Atlanta Economic Review (1985 November).

    Larry D. Wall. "Profitability: S.E. Banks Fare Better Than Most." Federal Reserve Bank of Atlanta Economic Review (1985 June/July).

    Larry D. Wall. "Affiliated Bank Capital." Federal Reserve Bank of Atlanta Economic Review (1985 April).

    Harold D. Ford and Larry D. Wall. "Money Market Account Competition." Federal Reserve Bank of Atlanta Economic Review (1984 December).

    Larry D. Wall. "Insulating Banks from Nonbank Affiliates." Federal Reserve Bank of Atlanta Economic Review (1984 September).

    Larry D. Wall. "Commercial Bank Profitability in 1983." Federal Reserve Bank of Atlanta Economic Review (1984 June).

    Robert A. Eisenbeis and Larry D. Wall. "Risk Considerations in Deregulating Bank Activities." Federal Reserve Bank of Atlanta Economic Review (1984 May).

    Larry D. Wall. "Deposit Insurance Reform: An Analysis of the Insuring Agencies Proposals." Federal Reserve Bank of Atlanta Economic Review (1984 March).

    Larry D. Wall. "The Future of Deposit Insurance: The Insuring Agencies Proposals." Federal Reserve Bank of Atlanta Economic Review (1984 January).

    Larry D. Wall. "Why Are Some Banks More Profitable? A Statistical Cost Analysis." Federal Reserve Bank of Atlanta Economic Review (1983 October).

    Larry D. Wall. "Why Are Some Banks More Profitable?" Federal Reserve Bank of Atlanta Economic Review (1983 September).

    Larry D. Wall. "Commercial Bank Profits: Southeastern Banks Fare Well" Federal Reserve Bank of Atlanta Economic Review (1983 July).

    Larry D. Wall. "Will Bank Capital Adequacy Restrictions Slow the Development of Interstate Banking?" Federal Reserve Bank of Atlanta Economic Review (1983 May).

    Blog Posts

    Larry Wall. "The Impact of Extraordinary Policy on Interest and Foreign Exchange Rates," macroblog. December 16, 2016.

    Larry Wall. "Forecasting Loan Losses for Stress Tests," macroblog. August 11, 2016.

    Larry Wall. "Putting the MetLife Decision into an Economic Context," macroblog. April 13, 2016.

    Podcast Episodes podcast

    Larry Wall. "To Fail or Not to Fail? A Discussion of Banking's 'Too Big to Fail' Problem." Economy Matters podcast. January 5, 2017.