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Meet the Researchers

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Marco Migueis

Principal Economist Banking, Credit and Operational Risk Section Supervision and Regulation
[email protected]

Education

  • Ph.D., Economics, Massachusetts Institute of Technology, 2010
  • B.A., Economics, Universidade Nova de Lisboa, 2003
Current Research Topics
  • Regulatory Capital, Operational Risk, and Systemic Risk
  • Political Economy
  • Principal Economist

    Board of Governors of the Federal Reserve System

    2016 - present
  • Senior Economist

    Board of Governors of the Federal Reserve System

    2015 - 2016
  • Economist

    Board of Governors of the Federal Reserve System

    2012 - 2015
  • Financial Economist

    Federal Reserve Bank of Richmond

    2010 - 2012
  • Financial Economist

    Fannie Mae

    2010
  • How to Design Rules for Ex-Post Evaluation
    Benjamin S. Kay and Marco Migueis
    FEDS Notes (2025)
    https://doi.org/10.17016/2380-7172.3698
  • Cost of Banking for LMI and Minority Communities
    Marco Migueis, Michael Suher, and Jessie Xu
    Finance and Economics Discussion Series (2025)
    https://doi.org/10.17016/FEDS.2022.040r1
  • Effect of the GSIB surcharge on the systemic risk posed by the activities of GSIBs
    Marco Migueis and Sydney Peirce
    Finance and Economics Discussion Series (2025)
    https://doi.org/10.17016/FEDS.2025.029
  • Outlining and Measuring the Benefits of Risk Sensitivity in Bank Capital Requirements
    Marco Migueis
    FEDS Notes (2025)
    https://doi.org/10.17016/2380-7172.3700
  • The information value of past losses in operational risk
    Filippo Curti and Marco Migueis
    Journal of Operational Risk (2023)
    https://doi.org/10.21314/JOP.2022.033
    See also » FRB Working Paper (2023)
  • The Information Value of Past Losses in Operational Risk
    Filippo Curti and Marco Migueis
    Finance and Economics Discussion Series (2023)
    https://doi.org/10.17016/FEDS.2023.003
  • Cost of Banking for LMI and Minority Communities
    Marco Migueis, Michael Suher, and Jessie Xu
    Finance and Economics Discussion Series (2022)
    https://doi.org/10.17016/FEDS.2022.040
  • Measuring the systemic importance of large US banks
    Andrew Hawley and Marco Migueis
    FEDS Notes (2021)
    https://doi.org/10.17016/2380-7172.2988
  • SRISKv2 – A note
    Marco Migueis and Alexander Jiron
    Economics Letters (2021)
    https://doi.org/10.1016/j.econlet.2021.109797
  • Regulatory arbitrage in the use of insurance in the new standardized approach for operational risk capital
    Marco Migueis
    Journal of Operational Risk (2021)
    https://doi.org/10.21314/JOP.2020.25
  • SRISKv2 - A Note
    Marco Migueis and Alexander Jiron
    FEDS Notes (2020)
    https://doi.org/10.17016/2380-7172.2724
  • Benchmarking Operational Risk Stress Testing Models
    Filippo Curti, Marco Migueis, and Robert Stewart
    Journal of Operational Risk (2020)
    https://doi.org/10.21314/JOP.2020.239
    See also » FRB Working Paper (2019)
  • Regulatory Arbitrage in the Use of Insurance in the New Standardized Approach for Operational Risk Capital
    Marco Migueis
    FEDS Notes (2020)
    https://doi.org/10.17016/2380-7172.2479
  • Benchmarking Operational Risk Stress Testing Models
    Filippo Curti, Marco Migueis, and Robert Stewart
    Finance and Economics Discussion Series (2019)
    https://doi.org/10.17016/FEDS.2019.038
  • Evaluating the AMA and the New Standardized Approach for Operational Risk Capital
    Marco Migueis
    Journal of Banking Regulation (2019)
    https://doi.org/10.1057/s41261-019-00095-z
  • Is Operational Risk Regulation Forward Looking and Sensitive to Current Risks?
    Marco Migueis
    Journal of Operational Risk (2018)
    https://doi.org/10.21314/JOP.2018.216
  • Forward-Looking and Incentive-Compatible Operational Risk Capital Framework
    Marco Migueis
    Journal of Operational Risk (2018)
    https://doi.org/10.21314/JOP.2018.219
    See also » FRB Working Paper (2017)
  • Is Operational Risk Regulation Forward-looking and Sensitive to Current Risks?
    Marco Migueis
    FEDS Notes (2018)
    https://doi.org/10.17016/2380-7172.2198
  • Redistributive Choices and Increasing Income Inequality: Experimental Evidence for Income as a Signal of Deservingness
    Laura K. Gee, Marco Migueis, and Sahar Parsa
    Experimental Economics (2017)
    https://doi.org/10.1007/s10683-017-9516-5
  • Benchmarking Operational Risk Models
    Filippo Curti, Ibrahim Ergen, Minh Le, Marco Migueis, and Robert Stewart
    Finance and Economics Discussion Series (2016)
    https://doi.org/10.17016/FEDS.2016.070
  • Tail Dependence and Indicators of Systemic Risk for Large US Depositories
    Eliana Balla, Ibrahim Ergen, and Marco Migueis
    Journal of Financial Stability (2014)
    https://doi.org/10.1016/j.jfs.2014.10.002
  • The Effect of Political Alignment on Transfers to Portuguese Municipalities
    Marco Migueis
    Economics & Politics (2013)
    https://doi.org/10.1111/ecpo.12005
  • Essays on Political Economy
    Marco Migueis
    Massachusetts Institute of Technology (2010)
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Last Update: November 21, 2025