The BIS Review is a collection of important articles and speeches by senior central bankers. This month, Federal Reserve Bank of New York President William J. McDonough discusses the importance of sound financial systems and FRB BOG member Roger W. Ferfuson, Jr. remarks on themes in international bank supervision.

According to this issue of International Banking and Financial Market Development, equity markets, especially those trading technology stocks, marked the first several months of this year as "a period of heightened market volatility."

Over the past several decades, the number of civil society organizations (such as labor unions, think tanks, and faith-based associations) has grown exponentially. The International Monetary Fund (IMF) is intimately interested in such organizations, and would like to engage with such groups "through information sharing, dialogue, and consultation at both global and national levels." Visitors to...