Discover and read the best of Twitter Threads about #SystemicRisk

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I am at the @federalreserve #Interconnectedness conference today with awesome keynotes by @JacksonmMatt + Tobias Adrian @IMFNews. Here's a thread about some of the amazing papers presented (in particular on why networks matter beyond #contagion). Program: federalreserve.gov/conferences/in…
First up @michaelgofman has a super interesting paper with Dean Corbae where banks use interbank loans as a commitment device to engage in collusion about their credit provision. They do a serious empirical estimation and the resulting price effect is quite staggering.
Next, Alexandr Kopytov (sites.google.com/view/alexandrk…) has a seriously impressive general equilibrium model of financial interconnectedness through overlapping portfolios. There is a whole literature emerging on the topic, so check it out.
Read 12 tweets
Chopping down loan loss reserves is another form of de-regulation. #SystemicRisk
China’s banking regulator has softened rules requiring lenders to set aside provisions against losses on bad loans, to encourage banks to provide more trustworthy assessments of their health. ft.com/content/4cc6ee…
Read 6 tweets

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