News in Systemic Risk: Friday, September 14, 2018 (10 a.m. ET)

An intermediation-based model of exchange rates (Semyon Malamud, Andreas Schrimpf; BIS) 

The Risk-Taking Channel of Liquidity Regulations and Monetary Policy (Stephan Imhof, Cyril Monnet, Shengxing Zhang; Swiss National Bank)

The Mortgage Market Is Back a Decade After the Credit Crisis—With New Risks (Bloomberg)

Ireland rebuffs calls to relax rules on exchange traded funds (FT)

Turkey Banks Tap $4.5 Billion Gold Reserves to Shore Up Finances (Bloomberg)

Russia Pivots to Rate Increases After First Hike Since 2014 (Bloomberg)

High public debt in euro-area countries: comparing Belgium and Italy (Andre Sapir; Bruegel)

ECB's Draghi Seeks Tougher Policing of $49 Trillion Shadow Banks (Bloomberg)

Crisis firefighters still uninterested in fire prevention (FT)