Using 1,584 listed banks from 65 countries during the COVID-19 pandemic, we conduct the first broad-based international study examining the effect of the pandemic on bank systemic risk. We find the pandemic increases systemic risk across countries. The effect operates through government policy...

This article applies the quantile regression forest (QRF), which is an improved method for predicting future monetary policy and macroeconomic downside risks in China. The information used to forecast is derived from Chinese systemic risk. We construct two Chinese systemic risk information sets,...