News in Systemic Risk: Thursday, May 3, 2018 (10 a.m. ET)

Federal Reserve issues FOMC statement (Federal Reserve)

BIS monthly newsletter – May 2018 (BIS)

Financial integration in Europe (ECB)

Why EMU requires more financial integration – Keynote speech by Vítor Constâncio (ECB)

Euro area financial integration improves in 2017 (ECB)

Volatility Strikes Back (Sergei Antoshin, Fabio Cortes, Will Kerry, Thomas Piontek; IMF Blog)

Implementation monitoring of PFMI: follow-up Level 3 assessment of CCPs recovery planning, coverage of financial resources and liquidity stress testing (BIS)

Liquidity ousts leverage as the big market worry (FT)

British banking leverage remains ‘dangerously high’ (FT)

ECB must think of broader picture when deciding on banks: Angeloni (Reuters)

Euro zone wasting benefits of financial integration: ECB (Reuters)

Euro zone economy to slow next year, downside risks increase: Commission (Reuters)

Luxembourg says UK banks must be realistic about EU access after Brexit (Reuters)