News in Systemic Risk: Friday, June 4, 2021 (10 a.m. ET) June 4, 2021 The risk management approach to macro-prudential policy (Sulkhan Chavleishvili, Robert F. Engle, Stephan Fahr, Manfred Kremer, Simone Manganelli, Bernd Schwaab; European Central Bank) CP10/21 - Implementation of Basel standards: Non-performing loan securitisations (Bank of England) The Internal Capital Markets of Global Dealer Banks (Arun Gupta; Federal Reserve Board of Governors) The transmission mechanism of the ECB's Corporate Sector Purchase Programme (Frank Betz, Roberto De Santis, Andrea Zaghini; VoxEU) Analysis: A 'tsunami' of cash is driving rates ever lower. What will the Fed do? (Jonnelle Marte; Reuters) Powell Diverges From European Central Bankers on Climate Policy (Christopher Condon, Carolynn Look, William Horobin; Bloomberg) Central banks face legal risk over climate – ECB’s Elderson (Daniel Hinge; Central Banking)