The Royal Swedish Academy of Sciences announced in Stockholm on the 10th that the Nobel Prize for Economics in 2022 will be awarded to economists Ben Bernanke, Douglas Diamond and Philip Dubwig, in recognition of their outstanding contributions in the field of banking and financial crisis research. The Royal Swedish Academy of Sciences issued a statement on the same day saying that the research achievements of the winners "have deepened our understanding of the role of banks in the economy, especially during the financial crisis". One of the important findings is "why it is important to avoid bank failures". The statement said that modern bank research clarified "why do we have banks, how to make them less vulnerable in the crisis and how bank failures exacerbate the financial crisis". The basis of these studies was laid by three winners in the early 1980s. Their analysis has important practical significance in regulating the financial market and responding to the financial crisis. The statement also quoted Torre Ellison, the chairman of the Nobel Economic Prize jury, as saying that the views of the winners "have helped us improve our ability to prevent serious crises and avoid costly aid". Diamond said in a telephone interview that the award was "unexpected". Referring to the current situation of the global financial market, he said: "Compared with the 2008 financial crisis, our preparation today is certainly much better." Bernanke was born in 1953, served as the chairman of the Federal Reserve Board of the United States, and now works at the Brookings Institution of the United States; Diamond was born in 1953 and now works at the University of Chicago; Dubwig was born in 1955 and now works at Washington University in St. Louis. This year's Nobel Prize in Economics is worth 10 million Swedish kronor (about 890000 US dollars), which will be shared equally among the three winners. In the Nobel series of awards, the economics prize was not established according to the will of the late Swedish chemist Alfred Nobel, but was created by the Swedish National Bank in 1968, and the prize was paid by the Swedish National Bank. (Liu Xinshe)