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News in Systemic Risk: Monday, December 19, 2016 (10 a.m. ET)

Geithner: Financial System Still at Risk of Crisis - While​ the Dodd-Frank Act and other postcrisis regulations have made the financial system safer in many ways, there is “reason to worry” about policymakers’ capacity to deal with a new crisis​ (WSJ)

How a Monte dei Paschi Rescue Is Unlikely to Solve Italy’s Banking Problems - The industry is hamstrung by a sluggish economy and an ultratraditional business model (WSJ)

Monte dei Paschi Set to Launch Share Sale - Troubled Italian lender needs to raise more than $5 billion of fresh capital by the end of the year (WSJ)

U.S. Money Fund Reforms Come to Europe—Will Volatility Follow? - Regulation expected to take effect in 2018 or 2019 (WSJ)

EU insurance regulator says stress-test results confirm “significant challenges” (Financial Times)

Europe’s banks fret over US stress tests - CCAR could expose weaknesses in capital planning at foreign banks (

Bank of England Quarterly Bulletin 2016 Q4

New York Fed Staff Report:  Dealer Balance Sheets and Bond Liquidity Provision

New York Fed Staff Report:  Credit Spreads, Financial Crises, and Macroprudential Policy

ECB Economic Bulletin:  The impact of uncertainty on activity in the euro area

BIS Working Paper:  Macroeconomics of bank capital and liquidity regulations

Swiss National Bank’s Fritz Zurbrügg: Current developments in the area of financial stability in Switzerland

Macroprudential policy under high capital mobility: policy implications from an academic perspective (Journal of the Japanese and International Economies)