News in Systemic Risk: Monday, September 8, 2025 (9:45 a.m.) September 8, 2025 Managing explanations: how regulators can address AI explainability (Fernando Perez-Cruz, Jermy Prenio, Fernando Restoy and Jeffery Yong; BIS) BSG response to Consultation on draft ITS amending Commission Implementing Regulation (EU) 2024/3172, as regards the disclosures on ESG risks, equity exposures and the aggregate exposure to shadow banking entities (; European Banking Authority) De-Dollarization? Diversification? Exploring Central Bank Gold Purchases and the Dollar’s Role in International Reserves (Colin Weiss; Federal Reserve Board) Short-Term Inflation Expectations Tick Up, Job Finding Expectations Reach Series Low (; FRBNY) Comments on proposed modifications to the Enhanced Supplementary Leverage Ratio (Nellie Liang and Haoxiang Zhu; The Brookings Institution) 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