News in Systemic Risk: Wednesday, May 27, 2020 May 27, 2020 COVID-19 and non-performing loans: lessons from past crises (Anil Ari, Sophia Chen, Lev Ratnovski; European Central Bank) Still the world's safe haven? Redesigning the U.S. Treasury market after the COVID-19 crisis (Darrell Duffie; Brookings Institution) Fannie and Freddie's Capital Dilemma (Telis Demos; Wall Street Journal) EU Aims to Back Struggling South With Fiscal Shock and Awe (Nikos Chrysoloras, Viktoria Dendrinou; Bloomberg) Brussels wants €750bn borrowing power to fund virus recovery (Sam Fleming, Jim Brunsden; Financial Times) Sarb’s Kganyago ‘concerned’ over sovereign-bank links (CentralBanking) Global Supply Chains in the Pandemic (Barthélémy Bonadio, Zhen Huo, Andrei A. Levchenko, Nitya Pandalai-Nayar; National Bureau of Economic Research) Can the Covid Bailouts Save the Economy? (Vadim Elenev, Tim Landvoigt, Stijn Van Nieuwerburgh; National Bureau of Economic Research)