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Without Warning

Steven Kelly

Financial stability and cross-asset research notes, without introduction or specified cadence. Each one may be the last. Always free. By Steven Kelly - Associate Director of Research - Yale Program on Financial Stability - [email protected].

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Latest Issues

Recent posts by this newsletter. Browse the email archive.

New paper: "Ad Hoc Emergency Liquidity Programs in the 21st Century"

In a new paper in the Journal of Financial Crises with Vincient Arnold, Greg Feldberg, and Andrew Metrick, we survey 22 case studies of 21st century instances when financial crisis-fighters implemented ad hoc emergency liquidity (AHEL) inte...

a month ago
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New paper: "Rushing to Judgment and the Banking Crisis of 2023"

In a new Chicago Fed paper, Jonathan Rose and I review the standard account of the Banking Crisis of 2023. We highlight seven facts that depart from the standard account of the crisis that has developed:

2 months ago
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Where Debanking Didn't Happen

The 790 pages the FDIC released of its supervisory correspondence with banks regarding crypto activities have proven to be something of a Rorschach test. The debanking proselytizers see it as proof that the FDIC lied and had a concerted eff...

3 months ago
7
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EVENT: Crisis Response Workshop

While this moment of DOGE is this likely an awkward time to plug a new executive ed program for financial stability professionals to my largely US-based audience, perhaps the inaugural Crisis Response Workshop can be pitched as a cheap opti...

3 months ago
3
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Authors

The writers behind this newsletter.

  • Steven Kelly

    Associate Director of Research at the Yale Program on Financial Stability. Financial crises & how to fight them. On Twitter at @StevenKelly49. Email: [email protected].

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