News in Systemic Risk: Friday, August 1, 2025 August 1, 2025 Statistical release: BIS international banking statistics and global liquidity indicators at end-March 2025 (BIS; BIS) Global shares in red after US jobs data, Trump's tariff salvo (Samuel Indyk and Nell Mackenzie; Reuters) Fed independence concerns raising risk premia – research (CentralBanking.com; CentralBanking.com) Related Stories Yale Program on Financial Stability Presents Financial Crisis-Fighting Playbook Fed Official Michael Barr Provides an Inside Look at Crisis Response High School Students Visit Yale SOM for Introduction to Careers in Business and Economics