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Meet the Economists

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Anya V. Kleymenova

Senior Economist Stress Testing Section Supervision and Regulation
202-452-2662
anya.kleymenova@frb.gov

Education

  • Ph.D., Accounting, London Business School, 2014
  • M.Sc., Accounting and Finance (MRes), London Business School, 2011
  • M.Sc., Finance, London Business School, 2007
  • M.Sc., Economics, London School of Economics and Political Science, 2004
  • B.S., Finance, Georgetown University, 1999
Current Research Topics
  • Real effects of regulation
  • Disclosure of enforcement
  • Senior Economist

    Board of Governors of the Federal Reserve System

    2020 - present
  • Assistant Professor

    University of Chicago Booth School of Business

    2014 - 2020
  • Visiting PhD Researcher

    Bank of England, PhD Research Internship

    2012 - 2014
  • Principal

    Charles River Associates, European Competition and Financial Economics practices

    2001 - 2009
  • Associate

    Charles River Associates, Competition practice

    1999 - 2001
  • Kleymenova, Anya V., and Li Zhang (2019). "The Impact of Banking Regulation on Voluntary Disclosures: Evidence from the Dodd-Frank Act," Chicago Booth Research Paper No. 19-08. The University of Chicago Booth School of Business.
  • Kleymenova, Anya V., and Rimmy Tomy (2019). "Observing Enforcement: Evidence from Banking," Chicago Booth Research Paper No. 19-05. The University of Chicago Booth School of Business.
  • Ertan, Aytekin, Anya V. Kleymenova, and Marcel Tuijn (2018). "Financial Intermediation Through Financial Disintermediation: Evidence from the ECB Corporate Sector Purchase Programme," Chicago Booth Research Paper No. 18-06. The University of Chicago Booth School of Business.
  • Kleymenova, Anya, Andrew K. Rose, and Tomasz Wieladek (2016). "Does Government Intervention Affect Banking Globalization?" CEPR Discussion Paper No. 11108. Centre for Economic Policy Research.
  • Kleymenova, Anya, Andrew K. Rose, and Tomasz Wieladek (2016). "Does Government Intervention Affect Banking Globalization?" Journal of the Japanese and International Economies, vol. 40, pp. 43-58.
  • Kleymenova, Anya, Andrew K. Rose, and Tomasz Wieladek (2016). "Does Government Intervention Affect Banking Globalization?" NBER Working Paper No. 21981. The National Bureau of Economic Research.
  • Kleymenova, Anya V. (2016). "Consequences of Mandated Bank Liquidity Disclosures," Chicago Booth Research Paper No. 16-04. The University of Chicago Booth School of Business.
  • Kleymenova, Anya V., and Ayse Irem Tuna (2016). "Regulation of Compensation and Systemic Risk: Evidence from the UK," Chicago Booth Research Paper No. 16-07. The University of Chicago Booth School of Business.
  • Jinkens, Brenlen, and Anya Kleymenova (2011). "Secondary Fund Transactions," in Talmor, Eli, and Florin Vasvari (eds.), International Private Equity, chapter 9, pp. 187-203. Chichester, West Sussex: John Wiley & Sons, Inc.

  • discussion

    2020

    2020 SMU Accounting Symposium

    (When) Does Public Information Hurt Liquidity? by K. Balakrishnan, A. Ertan and Y. Lee

  • discussion

    2020

    2020 FMA Virtual Conference

    Does Accounting and Regulatory Discretion with Investment Securities Affect Banks' Information Risk? by M. Arnold, M. Dong and R. Oberson

  • seminar

    2020

    Early Insights in Accounting Research

    The Lifecycle of an Enforcement Action

  • seminar

    2020

    University of Chicago Booth School of Business Banking Seminar

    The Lifecycle of an Enforcement Action

  • conference

    2020

    SARAC

    Observing Enforcement: Evidence from Banking

  • conference

    2020

    FARS

    Observing Enforcement: Evidence from Banking

  • seminar

    2020

    Federal Reserve Board

    Observing Enforcement: Evidence from Banking

  • conference

    2019

    SBFC

    Observing Enforcement: Evidence from Banking

  • discussion

    2019

    SBFC

    The Impact of TARP Capital Infusions on Bank Liquidity Creation: Does Bank Size Matter? by C. Zheng, A. Cheung and T. Cronje

  • seminar

    2019

    Ohio State University

    Observing Enforcement: Evidence from Banking

  • conference

    2019

    Knut Wicksell Conference on Financial Intermediation

    Regulators' Disclosure Decisions: Evidence from Bank Enforcement Actions

  • discussion

    2019

    Knut Wicksell Conference on Financial Intermediation

    The Impact of Bank Supervision on Corporate Credit: Evidence from Syndicated Loans by I. Ivanov and J. Wang

  • seminar

    2019

    USC

    Regulators' Disclosure Decisions: Evidence from Bank Enforcement Actions

  • seminar

    2019

    Frankfurt School of Management

    Regulators' Disclosure Decisions: Evidence from Bank Enforcement Actions

  • discussion

    2019

    Emerging Scholars in Accounting

    Do Managers Cater Voluntary Disclosure to Bond Investors? Evidence from Uncoventional Monetary Policy by R. Vincenzi

  • conference

    2019

    Berling Accounting Workshop

    Regulators' Disclosure Decisions: Evidence from Bank Enforcement Actions

  • conference

    2019

    FDIC/JFSR Bank Research Conference

    Regulators' Disclosure Decisions: Evidence from Bank Enforcement Actions

  • conference

    2019

    London Business School

    Financial Intermediation through Financial Disintermediation: Evidence from the ECB Corporate Sector Purchase Programme

  • conference

    2019

    St. Louis Fed/IU Workshop on Financial Institutions Research

    Regulators' Disclosure Decisions: Evidence from Bank Enforcement Actions

  • conference

    2019

    NBER Summer Institute

    Regulators' Disclosure Decisions: Evidence from Bank Enforcement Actions

  • conference

    2019

    London Business School

    Regulators' Disclosure Decisions: Evidence from Bank Enforcement Actions

  • conference

    2019

    American Accounting Association Annual Meeting

    Regulators' Disclosure Decisions: Evidence from Bank Enforcement Actions

  • conference

    2019

    Western Finance Association Annual Meeting (WFA)

    Financial Intermediation through Financial Disintermediation: Evidence from the ECB Corporate Sector Purchase Programme

  • conference

    2019

    Financial Intermediation Research Society (FIRS)

    Financial Intermediation through Financial Disintermediation: Evidence from the ECB Corporate Sector Purchase Programme

  • seminar

    2019

    Federal Reserve Bank of New York

    Regulators' Disclosure Decisions: Evidence from Bank Enforcement Actions

  • conference

    2019

    RFS/BAFI CAREFIN New Frontiers in Banking

    Financial Intermediation through Financial Disintermediation: Evidence from the ECB Corporate Sector Purchase Programme

  • conference

    2019

    European Winter Finance Summit

    Financial Intermediation through Financial Disintermediation: Evidence from the ECB Corporate Sector Purchase Programme

  • conference

    2019

    FARS

    Financial Intermediation through Financial Disintermediation: Evidence from the ECB Corporate Sector Purchase Programme

  • conference

    2019

    American Economic Association Annual Meeting (AEA)

    Financial Intermediation through Financial Disintermediation: Evidence from the ECB Corporate Sector Purchase Programme

  • conference

    2018

    Paris Financial Management Conference

    Financial Intermediation through Financial Disintermediation: Evidence from the ECB Corporate Sector Purchase Programme

  • seminar

    2018

    University of Chicago Booth School of Business

    Regulators' Disclosure Decisions: Evidence from Bank Enforcement Actions

  • seminar

    2018

    University of Miami

    Financial Intermediation through Financial Disintermediation: Evidence from the ECB Corporate Sector Purchase Programme

  • seminar

    2018

    INSEAD

    Regulators' Disclosure Decisions: Evidence from Bank Enforcement Actions

  • seminar

    2018

    Columbia Business School

    Financial Intermediation through Financial Disintermediation: Evidence from the ECB Corporate Sector Purchase Programme

  • discussion

    2018

    American Accounting Association Annual Meeting (AAA)

    Governance Through Shame and Aspiration: Index Creation and Corporate Behavior by Chattopadhyay, Shaffer and Wang

  • discussion

    2018

    American Accounting Association Annual Meeting (AAA)

    Fair Value Accounting, Prudential Regulation and Financial Contagion by Tang

  • conference

    2018

    ESSFM in Gerzensee

    Financial Intermediation through Financial Disintermediation: Evidence from the ECB Corporate Sector Purchase Programme

  • conference

    2018

    Yale Accounting Conference

    Financial Intermediation through Financial Disintermediation: Evidence from the ECB Corporate Sector Purchase Programme

  • conference

    2018

    European Accounting Association Annual Meeting (EAA)

    The Impact of Banking Regulation on Voluntary Disclosures: Evidence from the Dodd-Frank Act

  • discussion

    2018

    European Accounting Association Annual Meeting (EAA)

    The Impact of Top Executive Gender on Asset Prices: Evidence from Stock Price Crash Risk by Y. Li and Y. Zheng

  • discussion

    2018

    Financial Intermediation Research Society (FIRS)

    Peer Financial Distress and Individual Leverage: Evidence from 30 Million Individuals by A. Kalda

  • conference

    2018

    INSEAD

    Financial Intermediation through Financial Disintermediation: Evidence from the ECB Corporate Sector Purchase Programme

  • seminar

    2018

    University of Chicago Booth School of Business

    Financial Intermediation through Financial Disintermediation: Evidence from the ECB Corporate Sector Purchase Programme

  • seminar

    2018

    UCLA

    Financial Intermediation through Financial Disintermediation: Evidence from the ECB Corporate Sector Purchase Programme

  • discussion

    2018

    FARS

    Hub-and-Spoke Regulation and Bank Leverage by Y. Gopalan, A. Kalda and A. Manela

  • discussion

    2017

    London Business School Private Equity Symposium

    Liquidity Provision in the Secondary Market for Private Equity Fund Stakes by R. Albuquerque, J. Cassel, L. Phalippou and E. Schroth

  • seminar

    2017

    Stanford

    Regulation of Compensation

  • seminar

    2017

    University of Chicago Booth School of Business

    The Impact of Regulation on Voluntary Disclosures: Evidence from the Dodd-Frank Act

  • conference

    2017

    Illinois Young Scholars Symposium at UIUC

    The Impact of Regulation on Voluntary Disclosures: Evidence from the Dodd-Frank Act

  • seminar

    2017

    Harvard Business School

    Regulation of Compensation

  • conference

    2016

    HKUST Accounting Symposium

    Regulation of Compensation

  • seminar

    2016

    University of Rochester, Simon Business School

    Regulation of Compensation

  • conference

    2016

    CMU Accounting Mini-Conference

    Regulation of Compensation

  • conference

    2016

    American Accounting Association Annual Meeting (AAA)

    Regulation of Compensation

  • discussion

    2016

    American Accounting Association Annual Meeting (AAA)

    The Effect of Risk-taking on Earnings Quality in Banking Industry by M. Delis, I. Hasan and L. Li

  • discussion

    2016

    Lisbon Accounting Symposium

    Why Did Politicians Blame Fair Value Accounting During the Financial Crisis? by J. Bischof, H. Daske and C. Sextroh

  • conference

    2016

    European Accounting Association Annual Meeting (EAA)

    Are Universal Banks More Risky?

  • discussion

    2016

    FARS

    News and Corporate Bond Liquidity by Jiang and Sun

  • conference

    2016

    FARS

    Regulation of Compensation

  • conference

    2016

    American Economic Association Annual Meeting (AEA)

    Does Government Intervention Affect Banking Globalization?

  • conference

    2015

    HKUST Accounting Symposium

    The Transmission of Corporate Risk Culture: Evidence from Bank Acquisitions by C. Boissel, T. Bourveau and A. Matray

  • discussion

    2015

    SMU Accounting Symposium

    Bankruptcy in Groups by W. Beaver, S. Cascino, M. Correia and M. McNichols

  • seminar

    2015

    NYU

    Regulation of Compensation

  • conference

    2015

    GlA Conference, University of Chicago

    Regulation of Compensation

  • conference

    2015

    World Finance Conference

    Regulation of Compensation

  • conference

    2015

    NBER Summer Institute

    Does Government Intervention Affect Banking Globalization?

  • conference

    2015

    Society for Economic Dynamics Conference

    Does Government Internvion Affect Banking Globalization?

  • seminar

    2015

    University of Chicago Booth School of Business (Banking workshop)

    Consequences of Mandated Bank Liquidity Disclosures

  • conference

    2015

    GW Cherry Blossom Conference

    Regulation of Compensation

  • discussion

    2015

    FARS

    SFAS 166/167 and the Cost of Equity Capital - Evidence from Banks by Zhao

  • discussion

    2015

    FARS

    Bank Interest Rate Risk Management and Valuation of Earnings by Q. Burke and T. Warfield

  • seminar

    2014

    University of Zurich

    Consequences of Mandated Bank Liquidity Disclosures

  • conference

    2014

    UNC/Duke Fall Camp

    Consequences of Mandated Bank Liquidity Disclosures

  • discussion

    2014

    Review of Accounting Studies Conference

    Quarter-end Repo Borrowing Dynamics and Bank Opacity by E. Owens and J. Wu

  • seminar

    2014

    MIT

    Consequences of Mandated Bank Liquidity Disclosures

  • seminar

    2014

    Bank of England

    Consequences of Mandated Bank Liquidity Disclosures

  • conference

    2014

    European Finance Association Annual Meeting (EFA)

    Consequences of Mandated Bank Liquidity Disclosures

  • discussion

    2014

    American Accounting Association Annual Meeting (AAA)

    Procyclical Leverage: Bank Regulation or Fair Value Accounting by A. Amel-Zadeh, M. Barth and W. Landsman

  • discussion

    2014

    American Accounting Association Annual Meeting (AAA)

    An Empirical Examination of Horizon: Evidence from the Term Structue of Implied Equity Volatilities by R. Ball and J. Milian

  • discussion

    2014

    American Accounting Association Annual Meeting (AAA)

    The Effects of the US Subprime Crisis on Canadian Banks by S. Bandyopadhyay, R. Jha and D. Kennedy

  • conference

    2014

    European Accounting Association Annual Meeting (EAA)

    Consequences of Mandated Bank Liquidity Disclosures

  • conference

    2014

    British Accounting and Finance Association Annual Meeting (BAFA)

    Consequences of Mandated Bank Liquidity Disclosures

  • seminar

    2014

    Columbia Business School

    Consequences of Mandated Bank Liquidity Disclosures

  • seminar

    2014

    Northwestern University, Kellogg

    Consequences of Mandated Bank Liquidity Disclosures

  • seminar

    2014

    London School of Economics and Political Science

    Consequences of Mandated Bank Liquidity Disclosures

  • seminar

    2014

    HEC Paris

    Consequences of Mandated Bank Liquidity Disclosures

  • seminar

    2014

    INSEAD

    Consequences of Mandated Bank Liquidity Disclosures

  • seminar

    2014

    University of Chicago Booth School of Business

    Consequences of Mandated Bank Liquidity Disclosures

  • seminar

    2014

    McGill University

    Consequences of Mandated Bank Liquidity Disclosures

  • seminar

    2014

    Federal Reserve Board

    Consequences of Mandated Bank Liquidity Disclosures

  • seminar

    2014

    Washington University at St. Louis

    Consequences of Mandated Bank Liquidity Disclosures

  • seminar

    2014

    University of Pennsylvania, Wharton School

    Consequences of Mandated Bank Liquidity Disclosures

  • seminar

    2014

    University of Michigan

    Consequences of Mandated Bank Liquidity Disclosures

  • seminar

    2014

    Rice University

    Consequences of Mandated Bank Liquidity Disclosures

  • seminar

    2014

    University of Toronto

    Consequences of Mandated Bank Liquidity Disclosures

Awards
  • 2020

    EFA

    Best Paper Award in Institutional Markets (with R. Tomy)

  • 2020

    FARS Midyear Meeting

    FARS Excellence in Reviewing Award

  • 2019

    SBFC

    Bureau Van Dijk Best Paper Award in Banking (with R. Tomy)

  • 2019

    FMC, University of Chicago

    Fama-Miller Center for Research in Finance, Research Grant

  • 2019

    FMC, University of Chicago

    Fama-Miller Center for Research in Finance, Research Grant

  • 2019

    AAA Annual Meeting

    FARS Excellence in Reviewing Award

  • 2018

    FMC, University of Chicago

    Fama-Miller Center for Research in Finance, Research Grant

  • 2018

    FMC, University of Chicago

    Fama-Miller Center for Research in Finance, Research Grant

  • 2017

    FMC, University of Chicago

    Fama-Miller Center for Research in Finance, Research Grant

  • 2017

    University of Chicago

    FMC Faculty Scholar

  • 2016

    University of Chicago

    Centel Foundation/Robert P. Reuss Faculty Scholar

  • 2016

    University of Chicago

    Stigler Center for the Study of the Economy and the State

  • 2016

    University of Chicago

    Fama-Miller Center for Research in Finance, Research Grant

  • 2015

    University of Chicago

    Harry W. Kichheimer Faculty Scholar

  • 2015

    HEC Paris

    LABEX ECODEC, Research Grant (with Y. Lou)

  • 2015

    University of Chicago

    Fama-Miller Center for Research in Finance, Research Grant

  • 2013

    ABTA

    ABTA Doctoral Researcher Award

  • 2009

    ESRC (2009-2014)

    ESRC Scholarship

  • 2009

    London Business School (2009-2013)

    PhD Programme Financial Award

  • 2004

    London School of Economics

    Merit Award

  • 2002

    London School of Economics (2002-2004)

    Merit Award Scholarship

  • 2002

    London School of Economics (2002-2003)

    Citigroup Scholarship

  • 1999

    FMA

    FMA Honor Society

  • 1998

    Betta Gamma Sigma

    Betta Gamma Sigma International Honor Society

  • 1997

    Georgetown University

    International Student Grant

Conference Organization

  • August, 2016 | New York

    AAA Annual Meeting (FARS section)

    Subsection liason

  • August, 2015 | Vienna

    European Finance Association Annual Meeting

    Programme committee member

  • 2014-current

    European Accounting Association Annual Meeting

    Program committee member

  • April, 2011 | London

    TADC

    Chair of the organizing committee

Referee
  • American Economic Journal: Microeconomics
  • European Accounting Review
  • Journal of Accounting and Economics
  • Journal of Accounting Research
  • Journal of Banking and Finance
  • Journal of Business Finance and Accounting
  • Journal of Financial Intermediation
  • Journal of Financial Services Research
  • Journal of International Central Banking
  • Journal of Money, Credit and Banking
  • Management Science: Finance and Accounting
  • Review of Accounting Studies
  • Review of Finance
  • Review of Financial Economics
  • The Accounting Review
Professional Affiliation
  • American Accounting Association
  • American Economic Association
  • American Finance Association
  • Eastern Finance Association
  • European Accounting Association
  • European Finance Association
  • Financial Intermediation Research Society
  • Financial Management Association
  • Midwest Finance Association
  • Western Finance Association
Last update: December 28, 2020