A number of financial stress measures were developed after the financial crisis of 2007–2009 in the hope that they could provide regulators with advance warning of conditions that might warrant a corrective response. The Cleveland Fed’s systemic risk indicator is one such measure. This Commentary provides a review of the SRI’s performance from 2001 to 2020 and finds that it has performed well, providing a reliable, valid, and timely signal of elevated levels of financial system stress. Read More
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The Federal Reserve Bank of Cleveland and the Office of Financial Research hosted their annual financial stability conference, Financial Stability: Stress, Contagion, and Transmission, which was held virtually on November 19-20, 2020.