News in Systemic Risk: Monday, June 16, 2025 (9:45 a.m. ET) June 16, 2025 APRA proposes changes to capital framework for annuity products (Australian Prudential Regulation Authority) Memorandum of Understanding among the Monetary Policy Board, Payments System Board, Governance Board and Executive (Reserve Bank of Australia) How Stablecoins Can Be Destabilizing (Telis Demos; Wall Street Journal Pro Central Banking) UK financial regulators should copy Singapore model, say peers (Martin Arnold; Financial Times) Regulators ‘not done’ with bank and non-bank rules – Knot (Central Banking) Related Stories Yale Program on Financial Stability Presents Financial Crisis-Fighting Playbook 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