News in Systemic Risk: Tuesday, February 21, 2017 (10 a.m. ET)

President Trump Will Be Able to Recast the Fed by Filling Vacancies - Administration said to be leaning away from academics and toward candidates from banking world (WSJ)

Signs of a Step Back in Financial Regulatory Enforcement (New York Times)

We are unlikely to spot next financial crisis, Bank of England official says - MPC member Gertjan Vlieghe tells MPs that central bank’s financial models ‘are just not that good’ for predicting even a recession (Guardian)

ECB Occasional Paper:  Stress -Testing of liquidity risk in TARGET2