News in Systemic Risk: Friday, November 21, 2025 (9:45 a.m.) November 21, 2025 When is less more? Bank arrangements for liquidity vs central bank support (Viral V Acharya, Raghuram Rajan and Zhi Quan (Bill) Shu; BIS) Conversation between Pedro Machado, Member of the Supervisory Board of the ECB, and Kian Abouhossein, Managing Director at JP Morgan, at the European Financials Conference hosted by JP Morgan on 21 November 2025 (Pedro Machado, Kian Abouhossein; European Central Bank) AI, the Economy, and Financial Stability (Philip N. Jefferson; Federal Reserve) Stablecoins: A Revolutionary Payment Technology with Financial Risks (Rashad Ahmed, James A. Clouse, Fabio Natalucci, Alessandro Rebucci & Geyue Sun; NBER) The ‘Marathon Man’ approach to bank supervision (Daniel Davies; Financial Times) Related Stories Yale Program on Financial Stability Presents Financial Crisis-Fighting Playbook June 24, 2025 Master’s Degree in Systemic Risk Fed Official Michael Barr Provides an Inside Look at Crisis Response February 26, 2025 Program on Financial Stability High School Students Visit Yale SOM for Introduction to Careers in Business and Economics August 20, 2024 Program on Financial Stability
Yale Program on Financial Stability Presents Financial Crisis-Fighting Playbook June 24, 2025 Master’s Degree in Systemic Risk
Fed Official Michael Barr Provides an Inside Look at Crisis Response February 26, 2025 Program on Financial Stability
High School Students Visit Yale SOM for Introduction to Careers in Business and Economics August 20, 2024 Program on Financial Stability
