Jose A. Lopez is head of the Risk Modeling Research Section and a vice president in the Financial Institutions Supervision Department at the Federal Reserve Bank of San Francisco. The Section provides quantitative support to supervisory efforts throughout the Federal Reserve System. He completed his doctoral dissertation in economics at the University of Pennsylvania. His current research focuses on yield curve modeling as well credit risk measurement issues. He has published articles in the Journal of Business and Economic Statistics; the Journal of Money, Credit and Banking; the Review of Financial Studies; the International Journal of Central Banking; the Journal of Banking and Finance; and the Journal of Financial Econometrics.