News in Systemic Risk: Monday, December 12, 2016 (10 a.m. ET)
Italian Banking System
ECB Denies Monte dei Paschi More Time to Raise Capital - Move paves the way for the Italian government to step in and rescue the bank (WSJ)
Italy Is Up Against the Wall With Bank Bailout - Rejected extension for Banca Monte dei Paschi’s restructuring means tight deadline risks for investors (WSJ)
Fed Research Urges More Study of Fintech Links to Financial Markets - Central bank fintech research was spearheaded by Lael Brainard (WSJ)
US regulator hits out at derivatives reform deadline - Giancarlo raises concerns over whether asset managers and banks are ready (FT)
Shrinking FX market could pose stability risk: BIS (Reuters)
BIS: BIS Quarterly Review, December 2016
Prudential policies crossing borders: Evidence from the International Banking Research Network (Vox)
The fatal flaw in macropru: It ignores political risk (Vox)
The political economy of macroprudential policy (Bruegel)
Too Big for Administrative Law? FSOC Designations and the Fog of 'Systemic Risk'