CGFS report offers policy advice for coping with dollar funding strains

The Bank for International Settlements, Basel
Photo: Ulrich Roth

Non-bank regulation, deeper capital markets and stronger safety nets could help vulnerable countries cope with the continued dominance of the US dollar, a report by a Bank for International Settlements committee says.

A working group of the Committee on the Global Financial System, chaired by the Federal Reserve’s Sally Davies, investigated recent trends in the structure of dollar intermediation. Global funding markets remain dominated by the dollar, the report says, but the structure has

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