Financial Engineering Practitioners Seminar: Prof. Philip Giles
Date: November 17, 2014 from 6:00 pm to 7:30 pm EST
Location: Davis Auditorium, CEPSR Building
Contact: For further information regarding this event, please contact IEOR Department by sending email to info@ieor.columbia.edu .
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Title: The Fed and Quantitative Easing

Abstract: 

Central Banking Basics

  • Basic terms - definition of money, bank reserves, required reserves
  • The Fed's balance sheet prior to the beginning of the Fall 2008 financial crisis
  • A brief discussion of monetary control tools, mainly open market operations
Quantitative Easing
  • The stated purpose of QE
  • What it involves
  • The effect on interest rates and on the Fed's balance sheet
  • The Fed's exit policy

Bio: Dr. R. Philip Giles is Adjunct Professor of Finance and Economics at the Columbia University Graduate School of Business, New York City, where he teaches courses in money and financial markets: Banking and the Credit Markets, Debt Markets, Capital Markets and Investments, and The Money Markets: Domestic and International

Dr. Giles also provides on-site customized instruction in financial markets and banking topics for financial services corporations and organizations serving the financial sector. These have included: JP MorganChase, Moody's Investors Services, Calyon, The Securities and Exchange Commission, Federal Financial Institutions Examination Council, Brown Brothers Harriman, Bank of China, Wachovia, RBS Greenwich Capital, Conference of State Bank Supervisors and Mortgage Bankers' Association, among others. 

Outside of the U.S., Dr. Giles has lectured on financial market economics at the Helsinki School of Economics, Bucerius Law School in Hamburg, Bank of China, Sun Yat-Sen University, Institut de Financement du Maghreb Arabe, Institut Superieur de Gestion of the University of Tunis and the Institute of Industrial Policy Studies in Korea.

Specifically addressing his extensive teaching experience in the areas of structured finance and mortgage-backed securities, for several years he worked with the Mortgage Bankers' Association conducting workshops on The Economics of Structured Finance. He has also conducted workshops with Moody's Investor Services' London office in the field of structured finance fundamentals and with the Conference of State Bank Supervisors conducting workshops throughout the U.S. on Fundamentals of Structured Finance and Securitization

In addition to these programs, Dr. Giles has served as an expert witness in the area of structured finance, explaining the basics of CDOs with subprime collateral for both the Securities and Exchange Commission as well as a large U.S. law firm. 

Dr. Giles received his Ph.D. in Economics from Columbia University, an MBA from Ohio State University and a BA in Mathematics from Oklahoma City University.