News in Systemic Risk: Tuesday, April 22, 2025 (9:45 a.m. ET) April 22, 2025 The risk sensitivity of global liquidity flows: Heterogeneity, evolution and drivers (Stefan Avdjiev, Leonardo Gambacorta, Linda S Goldberg and Stefano Schiaffi; BIS) Effect of the GSIB surcharge on the systemic risk posed by the activities of GSIBs (Marco Migueis and Sydney Peirce; Fed) FDIC Modifies Approach to Resolution Planning for Large Banks (FDIC) Who supplies and demands safe assets – and why it matters (Madalen Castells-Jauregui, Dmitry Kuvshinov, Björn Richter, and Victoria Vanasco; VOXEU) Judge temporarily blocks Trump administration's mass layoffs at CFPB (Declan Harty; Politico Pro) Related Stories 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 Visiting Yale, Treasury Secretary Janet Yellen Hails Program on Financial Stability