News in Systemic Risk: Wednesday, September 13, 2023 (10:00 a.m. ET) September 13, 2023 Upside down: when AT1 instruments absorb losses before equity (Rodrigo Coelho, Jatin Taneja, Rastko Vrbaski; Bank for International Settlements) ECB criticises Meloni’s windfall tax on banks (Martin Arnold, Amy Kazmin; Financial Times) Tunisian president wants central bank to directly finance budget (Central Banking) U.S. Inflation Accelerated in August as Gasoline Prices Jumped (Amara Omeokwe, Nick Timiraos; Wall Street Journal)