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Viral V Acharya

Viral V. Acharya is the C.V. Starr Professor of Economics in the Department of Finance at New York University Stern School of Business (NYU-Stern). He is a Research Associate of the National Bureau of Economic Research (NBER) in Corporate Finance, a Research Affiliate at the Center for Economic Policy Research (CEPR), and Research Associate of the European Corporate Governance Institute (ECGI). Viral was a Resident Scholar at the Federal Reserve Bank of New York (Sep 2022-Jan 2023) and a Deputy Governor at the Reserve Bank of India (RBI) from Jan. 23 2017-July 23 2019 in charge of monetary policy, financial markets, financial stability, and research.
Commentary

Should the US Banking Crisis of 2023 Be a Footnote?

Viral V Acharya
The 2023 banking crisis that took down four banks, including Silicon Valley Bank, by all appearances appears to have been resolved by public intervention. Yet, Viral Acharya and Raghuram Rajan argue, this leaves many of the underlying weaknesses that contributed to the bank failures unaddressed. Moreover, while the authorities’ temporary fixes have stopped the panic, the system will have to absorb more unrecognized losses over time.
Monetary Policy

The Fed and Bank Failures

Raghuram Rajan
Viral Acharya and Raghuram Rajan explain how quantitative easing contributed to the problems underlying the recent bank failures such as that of Silicon Valley...

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