HFR Podcast: Jill Cetina, Executive Professor of Finance, Texas A&M University
In this episode of the HFR Podcast, Jill Cetina joins us to discuss the evolving role of stablecoins in financial intermediation, the implications of Treasury actions on market efficiency, and the potential systemic risks posed to the banking system. She highlights the privatization of the U.S. dollar payment system and the collateralization risks associated with stablecoins. The conversation concludes with insights on the winners and losers in the stablecoin landscape, emphasizing the need for careful consideration of the risks involved.
Jill Cetina is an Executive Professor of Finance at the Mays Business School of Texas A&M University and Associate Director of their Commercial Banking Program. She is a regular invited speaker at banking and policy conferences as well as a prolific researcher.
Jill served as a financial economist on US Treasury debt management team, working on Fed credit facilities during the Great Financial Crisis at the Dallas Fed in both banking supervision and monetary policy roles.
She has served as Associate managing director for US bank ratings at Moodys. She also lectures and leads the North American chapter for global Certificate of Bank Treasury Risk Management. Jill is a CFA charter holder, board member and chair of audit committee for St Baldrick’s a pediatric cancer charity and a mother of two.
Timestamps
01:12 Introduction to Stablecoins and Financial Intermediation
07:56 Treasury Strategies and Market Efficiency
10:46 Can Stablecoins be a Tool for Monetary Policy
13:57 Systemic Risks for the Banking Sector
17:46 Collateralization Risks and Market Dynamics
19:55 Winners and Losers in the Stablecoin Landscape
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