Caruana: financial globalisation is not over
BIS chief says “peak finance” has not arrived, despite signs of a slowdown in global banking
The retreat of financial globalisation has not yet begun, despite signs of a pull-back appearing in the data, Jaime Caruana of the Bank for International Settlements (BIS) said on February 28.
The BIS general manager said a close look at the data revealed the trend is "more regional than global, more deleveraging than deglobalisation", in his remarks to an academic audience in Geneva.
Overall, data on cross-border claims does suggest some decline in global finance since the 2008 crisis (see
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