Zhenyu Wang is Professor of Business Finance and Edward E. Edwards Professor at the Indiana University Kelley School of Business. He was formerly a vice president at the Federal Reserve Bank of New York, where he was the head of Financial Intermediation Function. During the recent financial crisis, he contributed directly to the design of Fed emergency liquidity facilities, the reform of Fed discount window collateral management, the bailout of Bear Stearns and AIG, the security design of TARP, and the development of new capital requirements for banks. Before working at the NY Fed, he was a faculty member at Graduate School of Business in Columbia University for nine years and at the School of Business in UT Austin for one year. Dr. Wang has published research on equity, fixed income, derivative securities, asset management, and financial econometrics. Some of his publications are influential in business education and bank regulation. One of his papers was awarded the Best Paper on Investments at the Western Finance Association. He obtained his Ph.D. degree in economics from the University of Minnesota, where he received the Alfred P. Sloan Doctoral Dissertation Fellowship.