Paul H. Kupiec is a resident scholar at the American Enterprise Institute (AEI), where he studies systemic risk and the management and regulations of banks and financial markets. He also follows the work of financial regulators such as the Federal Reserve and examines the impact of financial regulations on the US economy.

Before joining AEI, Kupiec was an associate director of the Division of Insurance and Research within the Center for Financial Research at the Federal Deposit Insurance Corporation (FDIC), where he oversaw research on bank risk measurement and the development of regulatory policies such as Basel III. Kupiec was also director of the Center for Financial Research at the FDIC and chairman of the Research Task Force of the Basel Committee on Banking Supervision. He has previously worked at the International Monetary Fund (IMF), Freddie Mac, J.P. Morgan, and for the Division of Research and Statistics at the Board of Governors of the Federal Reserve System.

Kupiec has edited many professional journals, including the Journal of Financial Services Research, Journal of Risk, and Journal of Investment Management.

He has a bachelor of science degree in economics from George Washington University and a doctorate in economics — with a specialization in finance, theory, and econometrics — from the University of Pennsylvania.


  • Chairman, Research Task Force, Basel Committee on Bank Supervision, 2010–13
  • Director, Center for Financial Research, FDIC
  • Associate Director, Division of Insurance and Research, Center for Financial Research, FDIC, 2004–13
  • Deputy Chief, Division of Banking Supervision and Regulation, Department of Monetary and Financial Systems, IMF, 2000–04
  • Director/Principal Economist, Financial Research, Freddie Mac, 1998–2000
  • Vice President, RiskMetrics Group, J.P. Morgan, 1997–98
  • Senior Economist, Division of Research and Statistics, Board of Governors of the Federal Reserve System, 1988–97
  • Official, Bank for International Settlements, Basel, Switzerland, 1990–91
  • Assistant Professor of Finance, North Carolina State University, 1985–88


Ph.D., economics (finance, theory, and econometrics), University of Pennsylvania

B.S., economics, George Washington University