News in Systemic Risk: Thursday, July 2, 2020 (10 a.m. ET) July 2, 2020 Clarifying the ECB’s supervisory approach to consolidation (Edouard Fernandez-Bollo; ECB Banking Supervision) The Shift from Active to Passive Investing: Potential Risks to Financial Stability? (Kenechukwu Anadu, Mathias Kruttli, Patrick McCabe, Emilio Osambela; Federal Reserve Board of Governors) Building a financial regulatory system suitable for the UK in the new era (Nausicaa Delfas; UK Financial Conduct Authority) ESRB risk dashboard (European Systemic Risk Board) Employment Situation Summary (Bureau of Labor Statistics) ESG Risk in Times of COVID-19 (Fabrizio Ferriani, Filippo Natoli; Bank of Italy) Saudi Arabia Extends Some Stimulus Measures for Business (Reema Al Othman, Vivian Nereim; Bloomberg) IMF urges Ukraine to keep central bank independent as governor's exit rattles market (Matthias Williams, Natalia Zinets; Reuters)