As part of Prof. Dr. Christoph Schneider's Financial Intermediation I lecture on May 6, 2025 in the lecture hall building (H2) of the University of Münster, two former Münster students received the Deutsche Bundesbank's Science Prize for their outstanding theses. Both prizes were awarded by the President of the Bundesbank Head Office in NRW, Mr. Christian Otto, following his lecture on “Current challenges for the economy and monetary policy”. 
Jan Ihorst was awarded the prize for his thesis on “The influence of monetary policy on the systemic risk of banks - an empirical analysis”. Mr. Ihorst's master's thesis focuses on monetary policy as a possible driver of systemic risk in the financial sector. Specifically, the research question is: Is there a positive correlation between expansionary monetary policy and the systemic risk of banks? The results for the period under review show that in normal economic times, expansionary monetary policy measures are associated with an increase in the systemic risk of banks, i.e. there is a positive correlation. In times of crisis, expansionary monetary policy measures contribute to a reduction in systemic risk, i.e. there is a negative correlation.
Florian Willem Schäfer received the prize for his Master's thesis on “Sustainability Characteristics in Bank Lending - An Empirical Analysis”. Mr. Schäfer's master's thesis examines the extent to which climate-related sustainability indicators influence loan defaults and loan interest rates. Specifically, the research question is: Do ecological risks influence the default behavior of loans and how does this affect pricing (interest rates)? As a result, the analyses show that climate-related sustainability factors can significantly influence loan performance. The work also suggests that banks that integrate environmental indicators into their credit processes at an early stage can potentially reduce their risk and default rates. The results thus provide valuable implications for risk management as well as for future research on the role of sustainability criteria in banking practice.
Prof. Dr. Christoph Schneider was visibly pleased with the successful work. At the end of the event, he warmly thanked the President for his presentation, the awards for the graduates and the valuable collaboration.