News in Systemic Risk: Thursday, January 7, 2021 (10 a.m. ET) January 7, 2021 From Lender of Last Resort to Market Maker of Last Resort via the dash for cash: why central banks need new toolsfor dealing with market dysfunction (Andrew Hauser; Bank of England) Financial Stability and too-big-to-fail after the Covid-19 Pandemic (Claudia Buch; Deutsche Bundesbank) BoE officials welcome stronger post-Brexit regulatory powers (Daniel Hinge; Central Banking) Corporate Debt ‘Relief’ Is an Economic Dud (Sheila Bair, Lawrence Goodman; Wall Street Journal)