paper proposes the establishment of high level systemic risk councils (SRCs) in each country with responsibility for … overseeing systemic risk in both tranquil times and crisis periods and coordinating the activities of key government ministries …

We examine the impact of economic policy uncertainty (EPU) on systemic risk. Based on a large sample of 889 listed … banks from 20 countries, we provide empirical evidence that banks are more likely to contribute more to systemic risk when … EPU increases. The effect operates through the bank leverage risk and bank asset risk channels. Further analyses reveal …