News in Systemic Risk: Tuesday, September 9, 2025 (9:45 a.m.) September 9, 2025 The liquidity state dependence of monetary policy transmission (Oliver Ashtari-Tafti, Rodrigo Guimaraes, Gabor Pinter and Jean-Charles Wijnandts; BIS) Patrick Montagner: Developments in banking supervision: the quest for simplification in an ever more complex world (Patrick Montagner; Member of the Supervisory Board of the ECB) 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