News in Systemic Risk: Tuesday, December 22, 2020 (10 a.m. ET) December 22, 2020 Paul Beaudry: Our quantitative easing operations - looking under the hood (Paul Beaudry; Bank for International Settlements) Why the surge in taxable municipal bonds? (Lorena Hernandez Barcena, David Wessel; Brookings Institution) What does 2021 hold for the ECB? (Victor Mendez-Barreira; Central Banking) The Pandemic Relief Bill and the Battle Over Federal Reserve Emergency Lending Authority (Lee Reiners; Duke University FinReg Blog) After months of inaction, U.S. Congress approves $892 billion COVID-19 relief package (Richard Cowan, Andy Sullivan; Reuters)