Junko Oguri

Junko Oguri

PhD candidate in Finance

Kellogg School of Management, Northwestern University

I am a doctoral candidate in finance at Kellogg School of Management, Northwestern University. My research interests include macrofinance, financial intermediation, and financial stability. Previously, I was a financial analyst at Bank of Japan and a research associate at the Yale Program on Financial Stability.


  • PhD in Finance, 2021-

    Kellogg School of Management, Northwestern University

  • MMS in Systemic Risk, 2020

    Yale School of Management, Yale University

  • BA in Economics, 2015

    Waseda Universtiy (Tokyo, Japan)


Heterogeneity Across Uninsured Deposit Growth

  • Abstract: The uninsured deposits were one of the most concerning vulnerabilities during the banking turmoil of early 2023. This paper investigates the surge in uninsured deposits among U.S. banks in the past decade, focusing on those with assets ranging from $50 billion to $700 billion. I show that current domestic uninsured deposit levels are historically high, with significant heterogeneity across banks. My analysis suggests that the deregulation of the liquidity coverage ratio (LCR) from 2018 to 2019 has had an impact on the dynamics of uninsured deposits. Employing a regression discontinuity design (RDD) around the regulatory cut-off for asset size, I highlight the consequential shifts in liquidity funding amongst the deregulated banks.
  • Presentations: Inter-Finance PhD Seminar (2023), Kellogg Finance Department (2023)