Bank for International Settlements (BIS)
Book notes: China’s Great Wall of Debt, by Dinny McMahon
McMahon is too pessimistic about the chances of China managing to get its great wall of debt under control, writes Michael Taylor, but he is undoubtedly right about the scale of the challenge
BIS paper outlines lower-bound risk model
Model estimates probability of hitting ELB, helping to guide policy
People: BIS appoints RBA’s Lowe to succeed Dudley on financial system committee
Lowe will chair committee charged with financial stability; IMF gets new media chief; and more
Carstens pushes for greater transparency from BIS
New general manager says greater transparency will improve dialogue with central banks
BIS sees ‘narrow’ path to safety as global risks build
BIS softens message on tighter monetary policy, but calls for concerted action as global debt reaches fresh highs
Fed policy’s global effects differ in booms and busts – BIS paper
Monetary policy appears to impact global bank lending differently depending on the “regime”
BIS calls for ‘redrawing of regulatory boundaries’ around crypto
Regulation will have to adapt to a “new reality”, BIS says, suggesting new ways the underlying technology could be applied to improve financial efficiency
BIS authors document ‘significant’ shifts in CDS risks
Credit default swaps market has changed “markedly” since 2008, authors say
Have central banks created a ‘debt trap’? No, but ...
Tougher regulation has helped ensure extraordinary monetary policy has not caused a dangerous rise in private debt
HKMA has no plans to launch digital currency - Treasury official
Hong Kong’s efficient payment infrastructure lessens incentive to go digital, official says
Powell says central banks cannot take independence for granted
Leading governors reflect on the future of central banking at Riksbank’s 350th anniversary
Small depositors do not pose greater run risk – BIS paper
Authors say their findings imply financial inclusion need not create instability
People: Weidmann re-elected as chair of BIS board
Korea appoints deputies; new Malaysian prime minister appoints team of economic advisers; new vice presidents in Richmond and Atlanta
CPMI puts forward strategy to tackle wholesale payments fraud
The Federal Reserve and the ECB welcome the proposal
The hunt for a crypto taxonomy
Cryptocurrency, crypto asset, crypto token – or something else? Finding the right term helps shed light on the structure of the fast-growing crypto market
Emerging markets still taking on dollar debts, BIS data shows
Rapid growth in credit to emerging markets echoed by broader rises in global liquidity
Policymakers should act now to prevent next crisis – IMF panellists
Preventative macro-prudential measures could help defend against next financial crisis, panel says
Claims on offshore centres at record high – BIS data
Overall cross-border claims “gained momentum” in Q4 2017
Real rates likely to move back up – BIS paper
Use of “shadow rate” allows authors to account for the effective lower bound
Do not discount central bank digital currency yet – Lagarde
IMF chief says central banks may be forced to issue their own form of crypto-asset if private sector alternatives remain ‘risky and unstable’
BIS report urges tighter global macro-pru co-ordination
Deputy general manager says global institutions could do more to promote co-ordination between advanced economies and “systemic middle-income countries”
FSI finds divergent practices on non-performing assets
Study finds it is hard to make “meaningful comparisons” of troubled assets across jurisdictions
China's policy transmission increasingly similar to advanced economies – BIS paper
Authors say monetary policy surprises have “sizeable” effects on interest rates in China
SNB rejects idea of retail central bank digital currency
Governing board member Andrea Maechler says central bank digital currency would bring “incalculable risks”, and denies that crypto tokens are “comparable with” money