Proprietary index · Updated first Monday monthly

Cross-Border Capital Index.

A single monthly reading of how tight — or accommodative — cross-border financing conditions are for the global diaspora. The Fed has a Financial Stress Index. Diaspora capital needed one too.

Nova Observatory · Proprietary

Cross-Border Capital Index

Composite monthly score of diaspora-capital conditions across six tracked corridors. A higher reading reflects more accommodative cross-border financing conditions.

May 26

82.9+23.9 QoQ

Conditions loosening vs prior quarter

“Auto-computed 2026-05-25T06:15:01.967Z”

FX volatility (30%)

100.0

Usury spread (25%)

90.1

Remittance Δ (20%)

89.0

Regulatory regime (15%)

67.0

Sentiment (10%)

58.0

Methodology

The index is a weighted composite of five sub-components, rescaled monthly to a 0–100 band where 50 corresponds to the December 2024 baseline reading:

30% · FX volatility across six tracked corridor pairsBloomberg / BCEAO
25% · Spread between local usury caps and Nova effective rateCentral bank filings
20% · Quarterly remittance volume changeWorld Bank KNOMAD
15% · Regulatory regime score (1–10, discretionary)Nova editorial board
10% · Diaspora sentiment (quarterly proprietary survey)Nova Letter subscribers

Updates are published the first Monday of each month and pre-announced in the Sunday edition of The Nova Letter. The diaspora sentiment component is forthcoming — see Data Hub for the survey instrument.