News in Systemic Risk: Tuesday, January 20, 2026 (9:45 a.m.) January 20, 2026 Banks and capital requirements: evidence from countercyclical buffers (Iñaki Aldasoro, Andreas Barth, Laura Comino Suarez and Riccardo Reale; BIS) Supreme Court Will Decide if Fed Independence Has Any Legal Teeth (Nick Timiraos and James Romoser; WSJ) Market Reaction to Greenland Tensions Has Been Muted, BOE’s Bailey Says (Paul Hannon; WSJ) This Trade War Would Be Unlike Any Other (Greg Ip; WSJ) 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