News in Systemic Risk: Thursday, October 30, 2025 (9:45 a.m.) October 30, 2025 Statistical release: BIS international banking statistics and global liquidity indicators at end-June 2025 (BIS) Statement Regarding Phase-In Termination Date for the De Minimis Exception to the Security-Based Swap Dealer Definition (Paul S. Atkins; SEC) GDP Growth Expectations and Cash-flow Risk Premium (William N. Goetzmann, Akiko Watanabe & Masahiro Watanabe; NBER) Fed Divisions Reveal New Caution Over Continued Cuts (Nick Timiraos; WSJ) 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