UK's Central Bank Forges Ahead With Plans for a Systemic Stablecoin Regime - The U.K. recently passed the Financial Services and Markets Act 2023 into law which gave ... - https://www.coindesk.com/policy/2023/08/08/uks-central-bank-forges-ahead-with-plans-for-a-systemic-stablecoin-regime/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #bankofengland #systemicrisk #regulations #policy #crypto #news

#AI #AISafety #SystemicRisk #Nuclear: "Like Oppenheimer before them, many merchants of AI believe their creations might change the course of history, and so they wrestle with profound moral concerns. Even as they build the technology, they worry about what will happen if AI becomes smarter than humans and goes rogue, a speculative possibility that has morphed into an unshakable neurosis as generative-AI models take in vast quantities of information and appear ever more capable. More than 40 years ago, Rhodes set out to write the definitive account of one of the most consequential achievements in human history. Today, it’s scrutinized like an instruction manual.

Rhodes isn’t a doomer himself, but he understands the parallels between the work at Los Alamos in the 1940s and what’s happening in Silicon Valley today. “Oppenheimer talked a lot about how the bomb was both the peril and the hope,” Rhodes told me—it could end the war while simultaneously threatening to end humanity. He has said that AI might be as transformative as nuclear energy, and has watched with interest as Silicon Valley’s biggest companies have engaged in a frenzied competition to build and deploy it."

https://www.theatlantic.com/technology/archive/2023/07/richard-rhodes-making-of-the-atomic-bomb-ai/674777/

The failures of #SiliconValleyBank and #SignatureBank cost https://www.bloomberg.com/news/articles/2023-03-29/fdic-mulls-squeezing-big-banks-hard-to-plug-23-billion-hole#xj4y7vzkg the #FederalDepositInsuranceCorp. #FDIC almost $23B. The U.S. agency is seeking to shift an unusually large https://www.bloomberg.com/news/articles/2023-03-29/fdic-mulls-squeezing-big-banks-hard-to-plug-23-billion-hole#xj4y7vzkg portion of those #losses to large #lenders. #FinancialCrisis #FinancialStability #SystemicRisk #Banking #SVB

Loose #MonetaryPolicy and #FinancialInstability Do periods of persistently loose monetary policy increase financial fragility and the likelihood of a financial crisis? This is a central ? for policymakers yet literature does not provide #systematic #empirical# evidence about this link at the #AggregateLevel. In this paper we fill this gap by analyzing long-run #HistoricalData. https://www.nber.org/papers/w30958 #FinancialStability #FinancialSystem #risk #SystemicRisk #BankingSystem #Credit #AssetPrice

#Monetary Tightening and U.S. #BankFragility in 2023: Mark-to-Market Losses and #Uninsured #Depositor Runs? https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4387676 "We analyze U.S. banks’ asset exposure to a recent rise in the #InterestRates with implications for #FinancialStability #GlobalFinancialSystem #SystemicRisk #UnisuredDebt #SVB Us #BankingSystem

The Death of #DoddFrank: #BankingLaw's #Dobbs #Moment - #FinancialInstitutions #SystemicRisk #FinancialStability #LegalResearch #legisation #regulations #PrudentialBanking #economy #FederalReserve #Fed #SVB https://www.creditslips.org/creditslips/2023/03/the-death-of-dodd-frank-banking-laws-dobbs-moment.html

Everything everywhere all at once: responding to #multiple #GlobalShocks Speech by Fabio Panetta, Member of the Executive Board of the #ECB, at a panel on “Global shocks, policy #spillovers and geo-strategic risks: how to coordinate policies” at The ECB and its Watchers XXIII Conference https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp230322_2~af38beedf3.en.html #FinancialStability #GlobalFinancialSystem #SystemicRisk #spilloveres #GobalShocks #BankLoans #MonetaryPolicy

#ElizabethWarren Is Right: #JeromePowell Must Go
The senator is demanding that the #Fed chair step down after the #SiliconValleyBank #debacle. She’s right to do so. https://proxy.metager.de/www.thenation.com/article/politics/elizabeth-warren-jerome-powell-fed #FinanicalCrisis #SystemicRisk #FDIC #FinancialStability #FederalReserve https://proxy.metager.de/www.thenation.com/article/politics/elizabeth-warren-jerome-powell-fed?

U.S. #banks #borrowed a combined $164.8B in recent weeks from the #FederalReserve #Fed #backstop facilities. The move signals that the banking sector faces strain after #FederalRegulators were forced to seize #SiliconValleyBank and #SignatureBank last week. https://www.bloomberg.com/news/articles/2023-03-16/banks-rush-to-backstop-liquidity-borrow-164-8-billion-from-fed #FinancialCrisis #FinancialStability #banking #regulations #SystemicRisk

New fears for #stability of the #global #FinancialSystem rattled financial markets on Wednesday, after #CreditSuisse acknowledged it found “material weakness” in its #financial reporting, adding uncertainty to the already jittery banking sector in the wake of Silicon Valley Bank’s collapse. Shares of Credit Suisse were down 20 percent on the news. #European #Banking #FinancialStability #GlobalFinancialRisk Risk #SystemicRisk #GSIB https://www.washingtonpost.com/business/2023/03/15/svb-banking-credit-suisse-stocks/

Anyone remember Silicon Valley Bank, Systemic Risk, Bailouts for tech edge lords ?

No ?

Well, if you have forgotten it was a big deal on social media yesterday; that it is now ancient history tells you all you need to know about #SocialMedia

#twitter #mastodon #banking #SVB #FDIC #SystemicRisk #Bailout

Fed announced Sunday additional funding will be made available through the creation of a new Bank Term Funding Program #BTFP, offering loans of up to 1 yr in length to banks, savings associations, credit unions, other eligible depository institutions pledging US #Treasuries, #AgencyDebt, #MortgageBacked #securities #MBS. These assets will be valued at par. BTFP will be an additional source of liquidity against high-quality securities https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312a.htm #FinancialCrisis2023 #SystemicRisk

An analysis of #regulatory #filings reveals that 1,074 firms—from #AndreessenHorowitz to #GeneralCatalyst were holding capital at #SiliconValleyBank in 2022 #GSIB #SystemicRisk #Banking #FinancialStability #FinancialCrisis #FinancialRegulations https://fortune.com/2023/03/12/venture-firms-custodied-silicon-valley-bank/

Amazing how many people here on #mastodon are experts on Banking, the FDIC, systemic risk, etc
but, given that many of these *same people are also experts on Epidemiology, virology, Russian military tactics and industrial capacity, and how US attorneys handle complex criminal investigations, maybe not so surprising

BUT DON'T WORRY !!!!
In a week, tusker and #twitter will have totally fogotten about banking and moved on to the next shiny toy

#SVB #FDIC #SystemicRisk #covid #Jan6 #Garland

#Treasury, #Fed #FDIC have taken extraordinary measures aftr sudden collapse of #SiliconValleyBank announcing plan to reclassify bank along w #SignatureBank as a #SystemicRisk thus ensuring uninsured #deposits are guaranteed by #federal #Bankdeposit #insurance #fund. The action comes after an unsuccessful attempt during the weekend to auction SVB. Meanwhile, First Republic Bank has staved off a run on deposits by bolstering liquidity via funding from Fed ,JPMorgan Chase.
https://www.nytimes.com/2023/03/12/business/janet-yellen-silicon-valley-bank.html

Seems they couldn’t find a buyer, so they use the #SystemicRisk exception to make all depositors whole. #SVB Silicon Valley Bank

„Depositors will have access to all of their money starting Monday, March 13.“

„Shareholders and certain unsecured debtholders will not be protected.“

And the same approach for Signature Bank, New York.

That’s quite drastic, IMHO. Two rather small banks getting „promoted” to systemic risk.

https://home.treasury.gov/news/press-releases/jy1337

Referenced link: https://phys.org/news/2023-03-anthropogenic-climate-poses-coffee-cultivation.html
Discuss on https://discu.eu/q/https://phys.org/news/2023-03-anthropogenic-climate-poses-coffee-cultivation.html

Originally posted by Phys.org / @physorg_com: http://nitter.platypush.tech/physorg_com/status/1633543118795702272#m

Anthropogenic #climatechange poses #systemicrisk to coffee cultivation @plos @PLOSClimate https://journals.plos.org/climate/article https://phys.org/news/2023-03-anthropogenic-climate-poses-coffee-cultivation.html

RT @amalmerzouk@twitter.com

An AI approach for managing financial systemic risk via bank bailouts by taxpayers #AI #risk #systemicrisk #banking #financialStability https://www.nature.com/articles/s41467-022-34102-1

🐦🔗: https://twitter.com/amalmerzouk/status/1594369835089158147

"Today's mess is better understood as a global polycrisis. The term implies that humanity is dealing with a complex knot of seemingly distinct but actually deeply entangled crises. Precisely because these crises are so entangled, they’re causing worldwide damage much greater than the sum of their individual harms." #systemicrisk #complexity https://www.nytimes.com/2022/11/13/opinion/coronavirus-ukraine-climate-inflation.html

My #listofinterests *):

#economics
#toobigtofail
#financialstability
#systemicrisk
#shadowbanking
#cooperatives
#linux

*) Explanation:
"Let's play a game, to help some of the newcomers make connections: name 5-7 things that interest you but aren't in your profile, as tags so they are searchable. Then boost this post or repeat its instructions so others know to do the same." (an idea from @HedgeMage)