Intervention has taken different forms in different countries and periods of time. Moreover, the high interconnection of financial institutions makes the (implicitly or explicitly) promise of no intervention made by governments barely credible. Moreover, it is largely claimed that these...

"Banks on the Brink explains why some countries are more prone to systemic bank failures than others. We focus on the political decisions that shape the structure of financial markets and the international economic forces that make some countries especially vulnerable to financial instability....

This paper examines the driving effect of economic policy uncertainty on bank systemic risk with a distinction between systemic linkage and bank tail risk. Using bank-level data of 25 economies during the period 2010-2020, we find consistent and robust evidence that policy uncertainty is...