News in Systemic Risk: Thursday, May 10, 2018 (10 a.m. ET)

Debt Seniority and Sovereign Debt Crises (Anil Ari, Giancarlo Corsetti, Luca Dedola; IMF)

Scarcity Effects of Quantitative Easing on Market Liquidity: Evidence from the Japanese Government Bond Market (Fei Han, Dulani Seneviratne; IMF)

Where Have All the Profits Gone? European Bank Profitability Over the Financial Cycle (Enrica Detragiache, Thierry Tressel, Rima Turk-Ariss; IMF)

Argentina: Back to the Brink (Monica de Bolle; PIIE)

Foreign Currency Bank Funding and Global Factors (Signe Krogstrup, Cédric Tille; IMF)

ECB Economic Bulletin No. 3 – 10 May 2018 (ECB)

Argentina Seeks ‘Stand-By’ Agreement With IMF (Bloomberg)

Argentina signals traditional IMF bailout on the cards (FT)

Powell Warns Against Overstating Impact of Fed Policy on Global Financial Conditions (WSJ)

Switzerland’s ‘Vollgeld’ banking overhaul: how reform would work (FT)

Italy Said to Seek 6-Month Extension of Bad-Loan Guarantees (Bloomberg)

Fitch sounds warning on HK banking system’s integration with China (FT)

Chinese banks, pitching safety and returns (maybe), lure customers into deposits (Reuters)

Bank of Canada says strengthening defences against cyber attack (Reuters)