The Global Financial Crisis of 2008/9 was precipitated by subprime mortgage lending and the magic of turning risky loans into investment-grade securities. Could commercial real estate cause the next one? It’s already helped Republic First Bank go to the wall (it was seized by regulators last month). Fed Chair, Jerome Powell, expects more to follow – and all because of a quirk that limits community banks to lending outside their area of expertise in terms of product and geography, thus preventing them from spreading their risk exposure in the way big banks can.

The solution? Banks and their supervisors must analyze whether they have enough capital and liquidity to sustain extreme market volatility, and figure out the specific market factors to which their organizations are most vulnerable. To learn how, check out Alla Gil’s latest GARP column, which you can read here.