News in Systemic Risk: Thursday, September 4, 2025 (9:45 a.m. ET) September 4, 2025 Banks' regulatory risk tolerance (Mikael Juselius, Aurea Ponte Marques and Nikola Tarashev; BIS) Financial stability implications of tokenisation - Executive Summary (BIS) The Fed does listen: How it revised the monetary policy framework (David Wessel; The Brookings Institution) 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