News in Systemic Risk: Tuesday, March 23, 2021 (10 a.m. ET) March 23, 2021 ECB Annual Report (European Central Bank) Coronavirus Aid, Relief, and Economic Security Act (Jerome Powell; Federal Reserve Board of Governors) Central Bank Swap Arrangements in the COVID-19 Crisis (Joshua Aizenman, Hiro Ito, Gurnain Kaur Pasricha; National Bureau of Economic Research) ‘Dash for cash’ versus ‘dash for collateral’: Market liquidity of European sovereign bonds during the Covid-19 crisis (Emanuel Moench, Loriana Pelizzon, Michael Schneider; VoxEu) Fiscal and exchange rate policies drive trade imbalances: New estimates (Joseph E. Gagnon, Madi Sarsenbayev; Peterson Institute for International Economics) Related Stories Fed Official Michael Barr Provides an Inside Look at Crisis Response High School Students Visit Yale SOM for Introduction to Careers in Business and Economics Visiting Yale, Treasury Secretary Janet Yellen Hails Program on Financial Stability