Board of Governors of the Federal Reserve System

International Finance

The Division of International Finance is responsible for basic research, policy analysis, and reporting in the areas of foreign economic activity, U.S. external trade and capital flows, and developments in international financial markets and institutions. Research responsibilities are shared by staff economists in the sections listed below as well as by the officers in the Program Direction group.

Global Financial Flows

The Global Financial Flows section analyzes U.S. international financial flows and their implications for the U.S. economy and the world more generally. This work focuses on the interaction between international and domestic financial markets, and section members conduct research on related topics. The section also oversees the Treasury International Capital Reports system and develops and manages extensive databases on cross-border assets and liabilities of U.S. residents and related transactions.