# Block 028 — FX intervention mechanics

**Status:** ○ queued
**Phase:** Phase 1 (FX)

## Topic scope

Verbal intervention vs actual intervention. FX reserve mechanics. Sterilized vs unsterilized intervention. SNB 2015 case study. BOJ 2022 case study.

## Plan

_(Filled at session close of prior block, per 2026-06-23 convention.)_

## Carry-forward to next block

_(Filled at session close.)_