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News in Systemic Risk: Tuesday, December 13, 2016 (10 a.m. ET)

Italian Banking System

Time For Italy to Be Clear About Its Troubled Banks - Banca Monte dei Paschi di Siena has a deadline to recapitalize before the end of the year (WSJ)

Italy Poised to Help Monte dei Paschi if Capital Raising Fails - A government bailout isn’t likely before Saturday, say people familiar with the matter (WSJ)

Volcker Rule extension

Big Banks Could Get More Time to Sell Funds Banned by Volcker Rule - Federal Reserve issues new guidelines for banks to obtain up to five years leeway (WSJ)

Federal Reserve Press Release

How Dodd-Frank will change under Trump and the next Congress (The Hill)

Stress-test expert to lead Fed's financial stability division (Reuters)

ECB’s Vítor Constâncio - Interview with Bankfokus

Basel Committee’s William Coen:  The global financial crisis and the future of international standard setting: lessons from the Basel Committee