rapid shift in monetary policy, played a clear role in the run on Silicon Valley Bank. The forced merger of Credit Suisse … with UBS showed what happens if a large bank's legacy and viability problems are left unresolved for a lengthy period. This …, deposits are withdrawn on a massive scale and access to market funding is lost. The episodes of bank distress in the United …

credit crunch. Evidence of an increased sovereign-bank nexus highlights risks to macro-financial stability, especially as …

analysis reveals that converting retail deposits into stablecoin issuers' deposits weakens a bank's liquidity coverage ratio … backing the stablecoins as central bank reserves or reinvest them in low-risk assets, making these funds a less effective … that when retail customers of bank A buy a stablecoin issued by a non-bank that keeps reserves at bank B, both banks could …