Contact Information
202-452-2384
james.m.o'brien@frb.gov

Fields of Interest
Banking and Financial Institutions
Financial Markets

Education
Ph.D., Economics, University of Illinois, Champaign-Urbana
B.A., Economics, Merrimack College

Professional Experience
Board of Governors of the Federal Reserve System, 1977-present

Selected Publications

• Bank Commercial Loan Fair Value Practices (with John Tschirhart, Michael Moise, and Emily Yang), Finance and Economics Discussion Series 2007-29. Washington: Board of Governors of the Federal Reserve System, 2007.
• ''Estimating Bank Trading Risk: A Factor Model Approach'' (with Jeremy Berkowitz), in M. Carey and R. Stulz, eds., Risks of Financial Institutions . Chicago: University of Chicago Press: National Bureau of Economic Research, 2006.
• ''How Accurate Are Value-at-Risk Models at Commercial Banks?'' (with Jeremy Berkowitz), Journal of Finance, vol. 57 (June 2002), pp. 1093-1111.
• Estimating the Value and Interest Rate Risk of Interest-Bearing Transactions Deposits, Finance and Economics Discussion Series 2000-53. Washington: Board of Governors of the Federal Reserve System, 2000.
• ''Thrift Stock Returns and Portfolio Interest Rate Sensitivity'' (with Stephen Lumpkin), Journal of Monetary Economics, vol. 39 (July 1997), pp. 341-57.
• ''Model Alternative'' (with Paul Kupiec), Risk, vol. 8 (June 1995), pp. 37-41.
• ''Internal Affairs'' (with Paul Kupiec), Risk, vol. 8 (May 1995), pp. 43-47.
• ''The Limitations of Market Value Accounting and a More Realistic Alternative'' (with Allen Berger and Kathleen Kuester King), Journal of Banking and Finance, vol. 15 (September 1991), pp. 753-84.
• ''Market-Based Risk-Adjusted Examination Schedules for Depository Institutions'' (with Kathleen Kuester King), Journal of Banking and Finance, vol. 15 (September 1991), pp. 955-74.
• ''The Information Value of the FOMC Policy Directive Under the New Operating Procedures,'' Journal of Money, Credit and Banking, vol. 16 (May 1984), pp. 151-64.
• ''Estimating the Information Value of Immediate Disclosure of the FOMC Policy Directive,'' Journal of Finance, vol. 36 (December 1981), pp. 1047-61.
• ''On the Incidence of Selective Credit and Related Policies in a Multi-Asset Framework,'' Journal of Finance, vol. 32 (December 1977), pp. 1539-56.