News in Systemic Risk: Friday, April 24, 2020 (10 a.m. ET)

WTO and IMF Joint Statement on Trade and the COVID-19 response (International Monetary Fund)

Buffering Covid-19 losses - the role of prudential policy (Mathias Drehmann, Marc Farag, Nikola Tarashev and Kostas Tsatsaronis; Bank of International Settlements)

Post-crisis international financial regulatory reforms: a primer (Claudio Borio, Marc Farag and Nikola Tarashev; Bank of International Settlements)

SME liquidity needs during the COVID-19 shock (Niall McGeever, John McQuinn, Samantha Myers; Central Bank of Ireland)

The coronavirus stimulus package: Quantifying the transfer multiplier (Christian Bayer, Benjamin Born, Ralph Luetticke, Gernot Müller ; VoxEU)

Globalization is in retreat for the first time since the Second World War (Douglas Irwin; Peterson Institute for International Economics)

Fed Focuses on Lending Programs, but Monetary Policy Deliberations Loom (Nick Timiraos; Wall Street Journal)