News in Systemic Risk: Monday, January 12, 2026 (9:45 a.m.) January 12, 2026 Contingent convertible debt: what is and what should have been (Ricardo Correia and Francisco Javier Población García; ECB) Transformed Intermediation: Credit Risk to NBFIs, Liquidity Risk to Banks (Viral V. Acharya, Nicola Cetorelli, and Bruce Tuckman; Federal Reserve Bank of New York) Liquidity spirals (Garbrand Wiersema, Esti Kemp, J. Doyne Farmer; ECB) What if Ether Goes to Zero? How Market Risk Becomes Infrastructure Risk in Crypto (Claudia Biancotti; Banca d'Italia) 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
